456 Brendon Dr

Leola, PA 17540

$90,999C+

2 bd · 1.0 ba · 900 sqft · Built 2017 · Manufactured · Pending · 238 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,642/mo
• Mortgage (P&I): −$477
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $729/mo
• Annual: $8,748/yr
• Cap rate: 15.91%
• Cash-on-cash: 34.33%
• DSCR: 2.53
• 1% rule: 1.80%
• Cash to close: $25,480

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $91k.
• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $91k).
• It's been on market 238 days — a 12% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $629 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#646 in PA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, crime A-; Watch: schools D, amenities F, commute F.
• Conestoga Valley SD (suburban): math 43% / reading 59% proficiency, ranked #156 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 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.
• 3 sale attempts; this cycle's ask has dropped $44k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.