254 Rabbit Run · Montgomeryville, PA 19454

$239,900

2 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 66 Days on market

Built 1982 ↓ 4% since listing

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the 55+ community of Neshaminy Falls, this 3-bedroom, 2-bath corner home is a Schult Cedarknoll model, a rare layout known for its room size and storage. The home includes a wider driveway, a covered front porch, and an enclosed porch. The interior has been freshly painted, with new carpeting in most rooms . The living room features a cathedral ceiling and bay window. The formal dining room includes a built-in china cabinet and sliding glass doors leading to the enclosed porch. The eat-in kitchen offers newer appliances, a deep sink with updated faucet, pendant lighting, and a breakfast booth. There is also a bar cabinet with glass shelves and a sink. The family room includes a built-in corner cabinet with a tabletop suitable for a TV. Two bedrooms and a full hall bath are located toward the rear of the home, along with a hallway linen closet. The utility room includes a washer, dryer, closet, and additional storage space. The primary bedroom is situated on the opposite end of the home and includes an brand new walk-in shower with a vanity, , toilet, and walk-in closet.

Key facts

• Covered front porch
• Wider driveway
• Corner home

Tags

• CORNER HOME
• SCHULT CEDARKNOLL MODEL
• WIDER DRIVEWAY
• COVERED FRONT PORCH
• ENCLOSED PORCH
• FRESHLY PAINTED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.9% in Montgomeryville — 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 77/100 on livability (#327 in PA, #2,871 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, cost of living D, commute F.
• North Penn SD (suburban): math 48% / reading 67% proficiency, ranked #76 of 539 in PA (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.6%/yr); 100 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Montgomery County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $67k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.62% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.03×
• Total profit: $2,241
• Equity at exit: $35,770

10-year hold

• IRR: 11.9%
• Equity multiple: 2.00×
• Total profit: $67,492
• Equity at exit: $20,742

Cash invested: $67,172 (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 19454

• Rents YoY: 4.6%
• Active inventory: 100
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,613 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$127 /mo · $1,530/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $579

Break-even live

Break-even rent $1,880

Max offer price $239,900

Occupancy floor 73%

Sensitivity live

Price	-10% $714	-5% $647	+0% $579	+5% $511	+10% $443
Rent	-10% $372	-5% $475	+0% $579	+5% $682	+10% $785
Rate	-1.0pp $699	-0.5pp $640	base $579	+0.5pp $516	+1.0pp $453

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Filly Dr North Wales, PA	3.0	2.5	2178	$3,200	$1.47	44d	1	0.60mi
415 Stump Rd North Wales, PA	2.0	1.0–2.0	827	$2,702	$3.27	2d	17	0.90mi
204 Livingston Ct North Wales, PA	3.0	1.5	1281	$2,500	$1.95	2d	1	1.31mi

Listing history 8 events

1. 2026-05-07
   status Pending 1097-char remark

   Show marketing remark (1097 chars)

   Located in the 55+ community of Neshaminy Falls, this 3-bedroom, 2-bath corner home is a Schult Cedarknoll model, a rare layout known for its room size and storage. The home includes a wider driveway, a covered front porch, and an enclosed porch. The interior has been freshly painted, with new carpeting in most rooms . The living room features a cathedral ceiling and bay window. The formal dining room includes a built-in china cabinet and sliding glass doors leading to the enclosed porch. The eat-in kitchen offers newer appliances, a deep sink with updated faucet, pendant lighting, and a breakfast booth. There is also a bar cabinet with glass shelves and a sink. The family room includes a built-in corner cabinet with a tabletop suitable for a TV. Two bedrooms and a full hall bath are located toward the rear of the home, along with a hallway linen closet. The utility room includes a washer, dryer, closet, and additional storage space. The primary bedroom is situated on the opposite end of the home and includes an brand new walk-in shower with a vanity, , toilet, and walk-in closet.

2. 2026-03-26
   price $239,900 1097-char remark

   Show marketing remark (1097 chars)

   Located in the 55+ community of Neshaminy Falls, this 3-bedroom, 2-bath corner home is a Schult Cedarknoll model, a rare layout known for its room size and storage. The home includes a wider driveway, a covered front porch, and an enclosed porch. The interior has been freshly painted, with new carpeting in most rooms . The living room features a cathedral ceiling and bay window. The formal dining room includes a built-in china cabinet and sliding glass doors leading to the enclosed porch. The eat-in kitchen offers newer appliances, a deep sink with updated faucet, pendant lighting, and a breakfast booth. There is also a bar cabinet with glass shelves and a sink. The family room includes a built-in corner cabinet with a tabletop suitable for a TV. Two bedrooms and a full hall bath are located toward the rear of the home, along with a hallway linen closet. The utility room includes a washer, dryer, closet, and additional storage space. The primary bedroom is situated on the opposite end of the home and includes an brand new walk-in shower with a vanity, , toilet, and walk-in closet.

3. 2026-03-16
   price $249,900 1097-char remark

   Show marketing remark (1097 chars)

   Located in the 55+ community of Neshaminy Falls, this 3-bedroom, 2-bath corner home is a Schult Cedarknoll model, a rare layout known for its room size and storage. The home includes a wider driveway, a covered front porch, and an enclosed porch. The interior has been freshly painted, with new carpeting in most rooms . The living room features a cathedral ceiling and bay window. The formal dining room includes a built-in china cabinet and sliding glass doors leading to the enclosed porch. The eat-in kitchen offers newer appliances, a deep sink with updated faucet, pendant lighting, and a breakfast booth. There is also a bar cabinet with glass shelves and a sink. The family room includes a built-in corner cabinet with a tabletop suitable for a TV. Two bedrooms and a full hall bath are located toward the rear of the home, along with a hallway linen closet. The utility room includes a washer, dryer, closet, and additional storage space. The primary bedroom is situated on the opposite end of the home and includes an brand new walk-in shower with a vanity, , toilet, and walk-in closet.

4. 2026-03-02
   listed $255,000 Active 1097-char remark

   Show marketing remark (1097 chars)

   Located in the 55+ community of Neshaminy Falls, this 3-bedroom, 2-bath corner home is a Schult Cedarknoll model, a rare layout known for its room size and storage. The home includes a wider driveway, a covered front porch, and an enclosed porch. The interior has been freshly painted, with new carpeting in most rooms . The living room features a cathedral ceiling and bay window. The formal dining room includes a built-in china cabinet and sliding glass doors leading to the enclosed porch. The eat-in kitchen offers newer appliances, a deep sink with updated faucet, pendant lighting, and a breakfast booth. There is also a bar cabinet with glass shelves and a sink. The family room includes a built-in corner cabinet with a tabletop suitable for a TV. Two bedrooms and a full hall bath are located toward the rear of the home, along with a hallway linen closet. The utility room includes a washer, dryer, closet, and additional storage space. The primary bedroom is situated on the opposite end of the home and includes an brand new walk-in shower with a vanity, , toilet, and walk-in closet.

5. 2024-11-01
   soldstatus $249,900 Closed 1754-char remark

   Show marketing remark (1754 chars)

   What a remarkable inside transformation this spectacular home in the 55+ Village of Neshaminy Falls has undergone! The huge, 3 bedroom, 2 bath corner home is one of the rare layouts, a Schult—Cedarknoll, that includes all the rooms and storage space most buyers want. From a wider driveway to covered and enclosed porches, this listing checks all the boxes for a high-valued home. From the front covered porch, you and your neighbors can take in the sights of residents moving about in the community. A welcoming foyer is impressive with a simple overhead pendant lamp on beadboard. The home was freshly painted with brand-new carpets in most rooms and subfloors replaced as needed. The spacious living room has a cathedral ceiling and bay window allowing for multiple ways to furnish and decorate the home. The formal dining room with a built-in China cabinet also has sliding glass doors to a roomy enclosed porch for entertaining guests. The eat-in kitchen with newer appliances, a deep sink with an updated faucet, and an overhead pendant light includes a breakfast booth to enjoy morning coffee or chat with friends. Don't miss the bar cabinet with glass shelves and sink! Just around the corner is the family room with a built-in corner cabinet and table top for your TV. Farther back is two bedrooms with a guest bath and hallway linen closet. The Utility room includes a washer and dryer, a closet, and a bonus space for even more storage. On the opposite end of the home is the primary bedroom with an ensuite bathroom including the vanity, shower, soaking tub, commode, and walk-in closet. The roof and water heater were replaced in 2022 in addition to some windows. Come see this home on Saturday, October 5th at the Open House from 1-3.

6. 2024-10-08
   status Pending 1754-char remark

   Show marketing remark (1754 chars)

   What a remarkable inside transformation this spectacular home in the 55+ Village of Neshaminy Falls has undergone! The huge, 3 bedroom, 2 bath corner home is one of the rare layouts, a Schult—Cedarknoll, that includes all the rooms and storage space most buyers want. From a wider driveway to covered and enclosed porches, this listing checks all the boxes for a high-valued home. From the front covered porch, you and your neighbors can take in the sights of residents moving about in the community. A welcoming foyer is impressive with a simple overhead pendant lamp on beadboard. The home was freshly painted with brand-new carpets in most rooms and subfloors replaced as needed. The spacious living room has a cathedral ceiling and bay window allowing for multiple ways to furnish and decorate the home. The formal dining room with a built-in China cabinet also has sliding glass doors to a roomy enclosed porch for entertaining guests. The eat-in kitchen with newer appliances, a deep sink with an updated faucet, and an overhead pendant light includes a breakfast booth to enjoy morning coffee or chat with friends. Don't miss the bar cabinet with glass shelves and sink! Just around the corner is the family room with a built-in corner cabinet and table top for your TV. Farther back is two bedrooms with a guest bath and hallway linen closet. The Utility room includes a washer and dryer, a closet, and a bonus space for even more storage. On the opposite end of the home is the primary bedroom with an ensuite bathroom including the vanity, shower, soaking tub, commode, and walk-in closet. The roof and water heater were replaced in 2022 in addition to some windows. Come see this home on Saturday, October 5th at the Open House from 1-3.

7. 2024-10-05
   listed $249,900 Active 1754-char remark

   Show marketing remark (1754 chars)

   What a remarkable inside transformation this spectacular home in the 55+ Village of Neshaminy Falls has undergone! The huge, 3 bedroom, 2 bath corner home is one of the rare layouts, a Schult—Cedarknoll, that includes all the rooms and storage space most buyers want. From a wider driveway to covered and enclosed porches, this listing checks all the boxes for a high-valued home. From the front covered porch, you and your neighbors can take in the sights of residents moving about in the community. A welcoming foyer is impressive with a simple overhead pendant lamp on beadboard. The home was freshly painted with brand-new carpets in most rooms and subfloors replaced as needed. The spacious living room has a cathedral ceiling and bay window allowing for multiple ways to furnish and decorate the home. The formal dining room with a built-in China cabinet also has sliding glass doors to a roomy enclosed porch for entertaining guests. The eat-in kitchen with newer appliances, a deep sink with an updated faucet, and an overhead pendant light includes a breakfast booth to enjoy morning coffee or chat with friends. Don't miss the bar cabinet with glass shelves and sink! Just around the corner is the family room with a built-in corner cabinet and table top for your TV. Farther back is two bedrooms with a guest bath and hallway linen closet. The Utility room includes a washer and dryer, a closet, and a bonus space for even more storage. On the opposite end of the home is the primary bedroom with an ensuite bathroom including the vanity, shower, soaking tub, commode, and walk-in closet. The roof and water heater were replaced in 2022 in addition to some windows. Come see this home on Saturday, October 5th at the Open House from 1-3.

8. 2024-10-01
   historical $249,900 1754-char remark

   Show marketing remark (1754 chars)

   What a remarkable inside transformation this spectacular home in the 55+ Village of Neshaminy Falls has undergone! The huge, 3 bedroom, 2 bath corner home is one of the rare layouts, a Schult—Cedarknoll, that includes all the rooms and storage space most buyers want. From a wider driveway to covered and enclosed porches, this listing checks all the boxes for a high-valued home. From the front covered porch, you and your neighbors can take in the sights of residents moving about in the community. A welcoming foyer is impressive with a simple overhead pendant lamp on beadboard. The home was freshly painted with brand-new carpets in most rooms and subfloors replaced as needed. The spacious living room has a cathedral ceiling and bay window allowing for multiple ways to furnish and decorate the home. The formal dining room with a built-in China cabinet also has sliding glass doors to a roomy enclosed porch for entertaining guests. The eat-in kitchen with newer appliances, a deep sink with an updated faucet, and an overhead pendant light includes a breakfast booth to enjoy morning coffee or chat with friends. Don't miss the bar cabinet with glass shelves and sink! Just around the corner is the family room with a built-in corner cabinet and table top for your TV. Farther back is two bedrooms with a guest bath and hallway linen closet. The Utility room includes a washer and dryer, a closet, and a bonus space for even more storage. On the opposite end of the home is the primary bedroom with an ensuite bathroom including the vanity, shower, soaking tub, commode, and walk-in closet. The roof and water heater were replaced in 2022 in addition to some windows. Come see this home on Saturday, October 5th at the Open House from 1-3.

ⓘ 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: $1,530 · $127/mo
• Projected year-2 tax: $2,660 · $222/mo
• Expected delta: +$1,130/yr (+$94/mo · 73.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,354
• − Mortgage interest: −$13,438
• − Property taxes: −$1,530
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,508
• − Management: −$2,508
• − Depreciation: −$6,979
• Taxable income: $3,191
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $6,178/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: North Penn SD
• NCES district ID: 4217280
• Math proficiency: 48% ▼ -10.00%
• Reading proficiency: 67% ▼ -9.00%
• Median HH income: $76,866
• Composite: 51.5/100
• National rank: #1722
• State rank: #76 of 539 in PA

Livability — Montgomeryville

• Score: 77/100
• State rank: #327
• US rank: #2871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 712,331 people
• City population: 288
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 27,755
• Household income: $118,177
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 459.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 856,074 people
• By 2030: 870,887 · +1.7%
• By 2040: 891,195 · +4.1%
• By 2050: 896,417 · +4.7%
• By 2075: 903,212 · +5.5%
• By 2100: 843,240 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 18% Black 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 17% · South Korea, China, Vietnam
• Languages at home: 81% English-only · Korean 5% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Montgomery

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: 20.8pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+26.3 2016: D+21.1 2012: D+14.3 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -220.54%
• Current HPI: 270.3006
• Rent YoY: ▲ 4.62%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

-4.0% since first listed

8 events — show timeline

• 2026-05-07 Pending — BRIGHT MLS
• 2026-03-26 Price Changed $239,900 BRIGHT MLS
• 2026-03-16 Price Changed $249,900 BRIGHT MLS
• 2026-03-02 Listed $255,000 BRIGHT MLS
• 2024-11-01 Sold (MLS) $249,900 BRIGHT MLS
• 2024-10-08 Pending — BRIGHT MLS
• 2024-10-05 Listed $249,900 BRIGHT MLS
• 2024-10-01 Coming Soon $249,900 BRIGHT MLS

Property tax history

+3.0%/yr

Latest (2026): $1,530 · +6.8% YoY. Source: county tax records.