217 Bauder Mill Rd

Muddy Creek, PA 16037

$115,000B

2 bd · 1.0 ba · 1,260 sqft · Built 1984 · Manufactured · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,983/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$270
• HOA: −$0
• Vac / Maint / Mgmt: −$416
• Net cashflow: $693/mo
• Annual: $8,318/yr
• Cap rate: 14.11%
• Cash-on-cash: 27.90%
• DSCR: 2.24
• 1% rule: 1.72%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Slippery Rock Area SD (town): math 56% / reading 72% proficiency, ranked #57 of 539 in PA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 59 active listings in the ZIP; 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.