10655 Bailey Springs Ln #12 · Washington, PA 17268

$99,900

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 65 Days on market

Built 2002 $89/sqft · 24% above area Est $80k · 24% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +4.2/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice comfortable manufactured home with 2 bedrooms and 2 full bathrooms. An open floor plan of living room and dining room with doors that lead to a newly constructed deck, 2025. There is an enclosed porch to the main door and a 2-car parking area. There is a detached shed for storage. The kitchen is a bright eat-in kitchen. Shed has a new roof. Buyers must be approved by park. Listing agent is related to owner.

Key facts

• Open floor plan
• Enclosed porch
• Detached shed

Tags

• OPEN FLOOR PLAN
• NEWLY CONSTRUCTED DECK
• ENCLOSED PORCH
• DETACHED SHED
• BRIGHT EAT IN KITCHEN
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.7% in Washington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#77 in PA, #558 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• Waynesboro Area SD (town): math 36% / reading 52% proficiency, ranked #283 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 230 active listings in the ZIP; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.92%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $80,444
• List price: $99,900
• Delta: 24.19%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.32×
• Total profit: $8,938
• Equity at exit: $14,895

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $40,167
• Equity at exit: $8,638

Cash invested: $27,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 17268

• Active inventory: 230
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,354 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$110 /mo · $1,318/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $394

Break-even live

Break-even rent $855

Max offer price $99,900

Occupancy floor 66%

Sensitivity live

Price	-10% $451	-5% $423	+0% $394	+5% $366	+10% $338
Rent	-10% $287	-5% $341	+0% $394	+5% $448	+10% $501
Rate	-1.0pp $445	-0.5pp $420	base $394	+0.5pp $368	+1.0pp $342

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $99,900 Active 65 DOM
2. 2026-06-17
   days on market $99,900 Active 64 DOM
3. 2026-06-16
   days on market $99,900 Active 63 DOM
4. 2026-06-15
   days on market $99,900 Active 62 DOM
5. 2026-06-14
   days on market $99,900 Active 60 DOM
6. 2026-06-13
   days on market $99,900 Active 59 DOM
7. 2026-06-10
   days on market $99,900 Active 57 DOM
8. 2026-06-09
   days on market $99,900 Active 56 DOM
9. 2026-06-08
   days on market $99,900 Active 55 DOM
10. 2026-06-07
    days on market $99,900 Active 54 DOM
11. 2026-06-05
    days on market $99,900 Active 51 DOM
12. 2026-06-03
    days on market $99,900 Active 50 DOM
13. 2026-06-02
    days on market $99,900 Active 49 DOM
14. 2026-06-01
    days on market $99,900 Active 48 DOM
15. 2026-05-31
    days on market $99,900 Active 47 DOM
16. 2026-05-30
    days on market $99,900 Active 46 DOM
17. 2026-04-14
    listed $99,900 Active 415-char remark

    Show marketing remark (415 chars)

    Nice comfortable manufactured home with 2 bedrooms and 2 full bathrooms. An open floor plan of living room and dining room with doors that lead to a newly constructed deck, 2025. There is an enclosed porch to the main door and a 2-car parking area. There is a detached shed for storage. The kitchen is a bright eat-in kitchen. Shed has a new roof. Buyers must be approved by park. Listing agent is related to owner.

18. 2019-06-07
    soldstatus $30,000 Closed 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

19. 2019-06-05
    status Pending 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

20. 2019-06-01
    status Active 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

21. 2019-05-14
    status Pending 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

22. 2019-04-02
    price $39,500 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

23. 2018-10-23
    price $44,900 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

24. 2018-09-21
    listed $47,900 Active 403-char remark

    Show marketing remark (403 chars)

    BACK ON THE MARKET, SELLER VERY MOTIVATED MAKE AN OFFER, HOUSE MUST SELL * * PRICE REDUCTION * * Beautiful, well maintained 2-3 BR, 2 BA home in great location of community. Wood floors, screened porch, master bath, separate DR could be turned back into 3rd bedroom. Updates include new flooring, new counter tops and freshly painted. Home must remain in community & community approval required.

25. 2015-02-18
    soldstatus $28,500
26. 2015-01-30
    historical
27. 2014-08-26
    listed $32,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,318 · $110/mo
• Projected year-2 tax: $1,448 · $121/mo
• Expected delta: +$130/yr (+$11/mo · 9.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,248
• − Mortgage interest: −$5,596
• − Property taxes: −$1,318
• − Insurance: −$500
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$2,906
• Taxable income: $3,329
• Est. tax owed @ 24.0%: −$799
• After-tax cash flow: $3,933/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Waynesboro Area SD
• NCES district ID: 4225110
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $50,445
• Composite: 37.79/100
• National rank: #4342
• State rank: #283 of 539 in PA

Livability — Washington

• Score: 85/100
• State rank: #77
• US rank: #558

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C Employment D- Housing A+ Health & safety B- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin County · 56,916 people
• City population: 50,348
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 29,362
• Household income: $73,161
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 539.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 157,827 people
• By 2030: 158,933 · +0.7%
• By 2040: 159,060 · +0.8%
• By 2050: 155,132 · -1.7%
• By 2075: 138,545 · -12.2%
• By 2100: 112,321 · -28.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+43.0) · D 28.1% · R 71.1%
• 2008→2024 swing: -10.4pp toward R · 2008: -32.6pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+43.1 2016: R+46.5 2012: R+38.5 2008: R+32.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.20%
• Current HPI: 189.6931
• Rent YoY: —
• Metro: Chambersburg-Waynesboro, PA
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+203.6% since first listed

11 events — show timeline

• 2026-04-14 Listed $99,900 BRIGHT MLS
• 2019-06-07 Sold (MLS) $30,000 BRIGHT MLS
• 2019-06-05 Pending — BRIGHT MLS
• 2019-06-01 Relisted — BRIGHT MLS
• 2019-05-14 Pending — BRIGHT MLS
• 2019-04-02 Price Changed $39,500 BRIGHT MLS
• 2018-10-23 Price Changed $44,900 BRIGHT MLS
• 2018-09-21 Listed $47,900 BRIGHT MLS
• 2015-02-18 Sold (MLS) $28,500 BRIGHT MLS
• 2015-01-30 Listing Removed — BRIGHT MLS
• 2014-08-26 Listed $32,900 BRIGHT MLS

Property tax history

+2.7%/yr

Latest (2026): $1,318 · +0.0% YoY. Source: county tax records.