115 Crescent Dr

Conashaugh Lakes, PA 18337

$62,000B

2 bd · 1.0 ba · 420 sqft · Built 1987 · Manufactured · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,636/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$103
• HOA: −$229
• Vac / Maint / Mgmt: −$344
• Net cashflow: $635/mo
• Annual: $7,621/yr
• Cap rate: 18.58%
• Cash-on-cash: 43.90%
• DSCR: 2.95
• 1% rule: 2.64%
• Cash to close: $17,360

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $62k. Condition is rated fair.
• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• It's been on market 34 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#786 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Delaware Valley SD (rural): math 41% / reading 66% proficiency, ranked #121 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dingman-Delaware El Sch (math 41% / reading 68%, grade C, #504 of 1,518 statewide, top 37%, 502 students, 51% FRL); Dingman-Delaware Ms (math 20% / reading 57%, grade F, #275 of 512 statewide, top 55%, 524 students, 45% FRL); Delaware Valley Hs (math 77% / reading 75%, grade A-, #25 of 437 statewide, top 6%, 1,418 students, 37% FRL) — zoned schools average 45% FRL vs 26% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 298 active listings in the ZIP; solid renter incomes; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.6% vs local median 5.2% in Conashaugh Lakes — 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.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — Older cabinets in poor condition
• Major: kitchen appliances — Dated appliances
• Moderate: exterior siding — Weathered and discolored