165 W Ridge Pike #132 · Trappe, PA 19468

$27,500

2 bd · 1.0 ba · 822 sqft · Manufactured public records · 6 Days on market

Built 1963

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible opportunity for affordable living in the highly sought-after Spring Ford School District! This 3-bedroom, 1-bathroom modular home offers massive potential for investors, contractors, or handy buyers looking to renovate and customize a space of their own. Outside, the property features a side porch perfect for relaxing, one dedicated parking space, a standalone storage shed, and an additional built-in shed for extra convenience. Enjoy the benefits of exceptionally low taxes in a prime location. Please note the monthly lot rent and fee breakdown starting August 2026: Base lot rent is $700.00 (which includes snow removal), plus mandatory monthly fees of $79.00 for water, $90.00 for

Key facts

• Built-in shed
• Low taxes
• Side porch

Tags

• SIDE PORCH
• DEDICATED PARKING SPACE
• STANDALONE STORAGE SHED
• BUILT-IN SHED
• LOW TAXES
• PRIME LOCATION

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer; Water and sewer available; Cable TV available; Municipal trash service
• Home design: Mobile pre-1976 single-wide; Ownership is land lease with approximately 127 years remaining; Land lease payment of $675 monthly; Year built estimated
• Construction: Vinyl siding; Other structures above and below grade; Fleetwood make
• Exterior features: Not in a federal flood zone; Tidal water: no; Park located in LIMERICK TERRACE

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Hot water and electric baseboard heating; Oil hot water heating (oil listed as heating fuel)
• Interior features: No basement; Living area value sourced from assessor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $28k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $28k).
• Cap rate 69.6% vs local median 1.4% in Trappe — 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 79/100 on livability (#245 in PA, #2,090 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: commute F, health & safety D-.
• Spring-Ford Area SD (suburban): math 58% / reading 78% proficiency, ranked #23 of 539 in PA (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.2%/yr); 135 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $190 of loan paydown is wiped out by about $825 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 + 0.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $27,500

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.56% ✓
• Cap rate: 69.65%
• Cash-on-cash: 226.27%
• DSCR: 11.07
• GRM: 1.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.64×
• Total profit: $81,956
• Equity at exit: $4,100

10-year hold

• IRR: —
• Equity multiple: 22.69×
• Total profit: $167,026
• Equity at exit: $2,378

Cash invested: $7,700 (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 19468

• Rents YoY: -1.2%
• Active inventory: 135
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$144
• Tax est. 1.5%: −$34 /mo · $412/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $1,452

Break-even live

Break-even rent $241

Max offer price $27,500

Occupancy floor 25%

Sensitivity live

Price	-10% $1,471	-5% $1,461	+0% $1,452	+5% $1,442	+10% $1,433
Rent	-10% $1,288	-5% $1,370	+0% $1,452	+5% $1,534	+10% $1,616
Rate	-1.0pp $1,466	-0.5pp $1,459	base $1,452	+0.5pp $1,445	+1.0pp $1,438

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: $6,875
• Closing costs: $825
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 W Ridge Pike #2 Royersford, PA	1.0	1.0	720	$1,475	$2.05	19d	1	0.47mi
151 Holly Dr Royersford, PA	1.0–3.0	1.0–2.5	1168	$2,470	$2.11	2d	10	1.31mi
150 Morgan Dr Royersford, PA	1.0–3.0	1.0–2.5	1075	$2,395	$2.23	2d	15	1.34mi
150 Morgan Dr Royersford, PA	1.0–3.0	1.0–2.5	1075	$2,590	$2.41	44d	15	1.34mi
100 Hunsberger Dr Royersford, PA	1.0–3.0	1.0–2.0	1104	$2,699	$2.44	2d	6	1.47mi
350 Brooke Dr Royersford, PA	1.0–3.0	1.0–2.5	1025	$2,410	$2.35	4d	9	1.50mi

Listing history 7 events

1. 2026-06-18
   days on market $27,500 Active 6 DOM
2. 2026-06-18
   price $27,500 Active 5 DOM
3. 2026-06-17
   days on market $30,000 Active 5 DOM
4. 2026-06-16
   days on market $30,000 Active 4 DOM
5. 2026-06-15
   days on market $30,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $30,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,941
• − Mortgage interest: −$1,540
• − Property taxes: −$412
• − Insurance: −$138
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$800
• Taxable income: $18,060
• Est. tax owed @ 24.0%: −$4,334
• After-tax cash flow: $13,088/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: Spring-Ford Area SD
• NCES district ID: 4222560
• Math proficiency: 58% ▼ -11.00%
• Reading proficiency: 78% ▼ -5.00%
• Median HH income: $84,931
• Composite: 60.97/100
• National rank: #802
• State rank: #23 of 539 in PA

Livability — Trappe

• Score: 79/100
• State rank: #245
• US rank: #2090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 712,331 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 28,194
• Household income: $108,534
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 555.0

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 (84%)
• Race & ethnicity: White 84% Asian 7% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 9% Slovak 1% Lithuanian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 2%

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: ▼ -269.11%
• Current HPI: 300.9404
• Rent YoY: ▼ -1.17%
• 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

1 event — show timeline

• 2026-06-12 Listed $30,000 BRIGHT MLS

Property tax history

-11.7%/yr

Latest (2026): $36 · +4.7% YoY. Source: county tax records.