1515 Lee Ln · Grove City, PA 16127

$24,900

2 bd · 1.0 ba · 851 sqft · Manufactured · 14 Days on market

Built 1984 ↓ 22% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Home Showcased With "CARE"!! Are you 55 or older and ready to simplify your life? Look forward to stress-free living here! Residing in the desirable and quiet Hidden Acres community, you’ll be thrilled to find every imaginable convenience from shopping to dining and more just a few minutes from your door! Open the door to easy one-floor living from the inviting openness of the living areas to the perfect privacy of the split bedroom design. The cheerful oak kitchen comes fully equipped and a bay window invites natural light to brighten every gathering. Low-maintenance living in this manufactured home makes it easy to focus on the things that matter most- faith, family, friends, and hobbies. Come here to see how easy and enjoyable life can be!

Key facts

• Split bedroom design
• One-floor living
• Cheerful oak kitchen

Tags

• ONE-FLOOR LIVING
• SPLIT BEDROOM DESIGN
• CHEERFUL OAK KITCHEN
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $25k).

Location & tenants

• Location reads 80/100 on livability (#223 in PA, #1,951 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Grove City Area SD (town): math 50% / reading 64% proficiency, ranked #95 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 50 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 62 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Mercer County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $24,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.52% ✓
• Cap rate: 31.04%
• Cash-on-cash: 88.37%
• DSCR: 4.93
• GRM: 2.4

CMA / ARV

• ARV (median comp): $56,571
• List price: $24,900
• Delta: -55.81%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 89.0%
• Equity multiple: 5.11×
• Total profit: $28,683
• Equity at exit: $3,713

10-year hold

• IRR: 92.0%
• Equity multiple: 10.63×
• Total profit: $67,154
• Equity at exit: $2,153

Cash invested: $6,972 (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 16127

• Active inventory: 50
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $877 high
• Mortgage (P&I): −$131
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $513

Break-even live

Break-even rent $227

Max offer price $24,900

Occupancy floor 36%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1440 Carrie Way Grove City, PA	1.0–2.0	1.0	760	$1,060	$1.39	1d	1	0.25mi
633 S Center St Unit C Grove City, PA	1.0	1.0	600	$580	$0.97	20d	1	1.20mi
515 S Center St Apt 1 Grove City, PA	1.0	1.0	600	$740	$1.23	20d	1	1.31mi
308 Elm St Unit 308 Grove City, PA	1.0	1.0	800	$700	$0.88	20d	1	1.34mi
422 S Center St Unit B Grove City, PA	2.0	1.0	800	$760	$0.95	43d	1	1.38mi
123 College Ave Unit B Grove City, PA	2.0	1.0	650	$735	$1.13	43d	1	1.45mi

Listing history 14 events

1. 2026-06-19
   days on market $24,900 Active 14 DOM
2. 2026-06-18
   days on market $24,900 Active 13 DOM
3. 2026-06-17
   days on market $24,900 Active 12 DOM
4. 2026-06-16
   days on market $24,900 Active 11 DOM
5. 2026-06-15
   days on market $24,900 Active 10 DOM
6. 2026-06-14
   days on market $24,900 Active 8 DOM
7. 2026-06-13
   days on market $24,900 Active 7 DOM
8. 2026-06-10
   days on market $24,900 Active 5 DOM
9. 2026-06-09
   days on market $24,900 Active 4 DOM
10. 2026-06-08
    days on market $24,900 Active 3 DOM
11. 2026-06-07
    pricedays on marketlisting id $24,900 Active 2 DOM
12. 2025-11-15
    price $25,000 774-char remark

    Show marketing remark (774 chars)

    A Home Showcased With "CARE"!! Are you 55 or older and ready to simplify your life? Look forward to stress-free living here! Residing in the desirable and quiet Hidden Acres community, you’ll be thrilled to find every imaginable convenience from shopping to dining and more just a few minutes from your door! Open the door to easy one-floor living from the inviting openness of the living areas to the perfect privacy of the split bedroom design. The cheerful oak kitchen comes fully equipped and a bay window invites natural light to brighten every gathering. Low-maintenance living in this manufactured home makes it easy to focus on the things that matter most- faith, family, friends, and hobbies. Come here to see how easy and enjoyable life can be!

13. 2025-09-15
    price $29,000 774-char remark

    Show marketing remark (774 chars)

    A Home Showcased With "CARE"!! Are you 55 or older and ready to simplify your life? Look forward to stress-free living here! Residing in the desirable and quiet Hidden Acres community, you’ll be thrilled to find every imaginable convenience from shopping to dining and more just a few minutes from your door! Open the door to easy one-floor living from the inviting openness of the living areas to the perfect privacy of the split bedroom design. The cheerful oak kitchen comes fully equipped and a bay window invites natural light to brighten every gathering. Low-maintenance living in this manufactured home makes it easy to focus on the things that matter most- faith, family, friends, and hobbies. Come here to see how easy and enjoyable life can be!

14. 2025-06-03
    listed $32,000 Active 774-char remark

    Show marketing remark (774 chars)

    A Home Showcased With "CARE"!! Are you 55 or older and ready to simplify your life? Look forward to stress-free living here! Residing in the desirable and quiet Hidden Acres community, you’ll be thrilled to find every imaginable convenience from shopping to dining and more just a few minutes from your door! Open the door to easy one-floor living from the inviting openness of the living areas to the perfect privacy of the split bedroom design. The cheerful oak kitchen comes fully equipped and a bay window invites natural light to brighten every gathering. Low-maintenance living in this manufactured home makes it easy to focus on the things that matter most- faith, family, friends, and hobbies. Come here to see how easy and enjoyable life can be!

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $458 · $38/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,520
• − Mortgage interest: −$1,395
• − Property taxes: −$458
• − Insurance: −$124
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$724
• Taxable income: $6,135
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $4,689/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: Grove City Area SD
• NCES district ID: 4211220
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $51,381
• Composite: 48.67/100
• National rank: #2106
• State rank: #95 of 539 in PA

Livability — Grove City

• Score: 80/100
• State rank: #223
• US rank: #1951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, PA
• County: Mercer County · 28,053 people
• City population: 15,117
• Metro: Youngstown-Warren-Boardman, OH-PA
• Population (ZIP): 15,117
• Household income: $72,429
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 181.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 108,341 people
• By 2030: 104,269 · -3.8%
• By 2040: 94,624 · -12.7%
• By 2050: 84,891 · -21.6%
• By 2075: 65,094 · -39.9%
• By 2100: 47,657 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1% Asian 1%
• Common ancestry: Romanian 4% Serbian 4% Slovak 4%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+30.2) · D 34.5% · R 64.7%
• 2008→2024 swing: -29.9pp toward R · 2008: -0.3pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+26.0 2016: R+25.0 2012: R+2.5 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.37%
• Current HPI: 151.2405
• Rent YoY: —
• Metro: Youngstown-Warren-Boardman, OH-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

-21.9% since first listed

3 events — show timeline

• 2025-11-15 Price Changed $25,000 West Penn MLS
• 2025-09-15 Price Changed $29,000 West Penn MLS
• 2025-06-03 Listed $32,000 West Penn MLS

Property tax history

-4.7%/yr

Latest (2025): $458 · +11.3% YoY. Source: county tax records.