119 Meadow Ln

Warwick, PA 17543

$79,900B-

2 bd · 2.0 ba · 812 sqft · Built 2021 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,721/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$80
• HOA: −$625
• Vac / Maint / Mgmt: −$361
• Net cashflow: $235/mo
• Annual: $2,821/yr
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• 1% rule: 2.15%
• Cash to close: $22,372

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 21 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Warwick SD (suburban): math 42% / reading 58% proficiency, ranked #158 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Warwick Shs (math 86% / reading 50%, grade B, #59 of 437 statewide, top 14%, 1,230 students, 28% FRL).
• Zoned-school proficiency averages 68% at this address vs 50% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Warwick SD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 36% of rent.
• Market conditions: 214 active listings in the ZIP; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.