10644 W Main Rd #36 · North East, PA 16428

$25,000

2 bd · 1.0 ba · 804 sqft · Manufactured public records · 20 Days on market

Built 1982 $505/mo HOA · 40% of rent ↓ 20% since listing

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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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move in ready, home built in 1982. 12x67, plus 10x46 patio, and a carport. A storage building in the rear. a concrete pad for parking 2 cars. Appliances include gas range, refrigerator, washer and dryer. 2025 taxes were $187. Homestead status would lessen taxes. Forced air furnace and newer central air. * * Must have park approval and loan approval or proof of funds with offer.

Key facts

• Concrete pad
• Storage building
• Carport

Tags

• MOVE IN READY
• PATIO
• CARPORT
• STORAGE BUILDING
• CONCRETE PAD
• GAS RANGE

Property features AI

Finance

• Other: Zoning: A-RES
• HOA & community: Homeowners association with a $505 monthly fee (includes trash)

Exterior

• Parking: Carport (2 parking spaces total)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Slab foundation; Roof: see remarks
• Exterior features: Patio; Storage; Landscaped, level lot; Paved road access

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Window coverings and drapes; Storage shed(s)
• Laundry & utility: Washer; Dryer

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 $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.8% vs local median 3.3% in North East — 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 88/100 on livability (#42 in PA, #233 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+.
• North East SD (town): math 47% / reading 69% proficiency, ranked #88 of 539 in PA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Erie County population projected at -14% 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

• It's been on market 20 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 5.10% ✓
• Cap rate: 22.85%
• Cash-on-cash: 59.13%
• DSCR: 3.63
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 58.3%
• Equity multiple: 3.61×
• Total profit: $18,238
• Equity at exit: $3,728

10-year hold

• IRR: 63.3%
• Equity multiple: 7.50×
• Total profit: $45,470
• Equity at exit: $2,162

Cash invested: $7,000 (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 16428

• Home prices YoY: -26.0%
• Active inventory: 61
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$16 /mo · $190/yr
• Insurance: −$10
• HOA: −$505
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $345

Break-even live

Break-even rent $838

Max offer price $25,000

Occupancy floor 68%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2007 N Pearl St North East, PA	1.0–3.0	1.0–1.5	1125	$1,275	$1.13	44d	2	1.09mi

HOA detail

• Monthly dues: $505 · $6,060/yr
• Likely covers: gas

Listing history 2 events

1. 2026-05-14
   status Pending 383-char remark
2. 2026-04-24
   listed $25,000 Active 383-char remark

ⓘ 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: $190 · $16/mo
• Projected year-2 tax: $292 · $24/mo
• Expected delta: +$103/yr (+$9/mo · 54.2%)

ⓘ 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 2/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,300
• − Mortgage interest: −$1,400
• − Property taxes: −$190
• − Insurance: −$125
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − HOA: −$6,060
• − Depreciation: −$727
• Taxable income: $4,350
• Est. tax owed @ 24.0%: −$1,044
• After-tax cash flow: $3,095/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 East SD
• NCES district ID: 4217160
• Math proficiency: 47% ▼ -15.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $48,844
• Composite: 49.22/100
• National rank: #2037
• State rank: #88 of 539 in PA

Livability — North East

• Score: 88/100
• State rank: #42
• US rank: #233

Category grades

Amenities C+ Commute B 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

• Population (ZIP): 12,508

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 13% Lithuanian 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Arabic 1% Spanish 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.46%
• Current HPI: 257.9847
• Rent YoY: —
• Metro: —
• 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

-20.0% since first listed

3 events — show timeline

• 2026-06-01 Sold (MLS) $20,000 GEBOR
• 2026-05-14 Pending — GEBOR
• 2026-04-24 Listed $25,000 GEBOR

Property tax history

+2.2%/yr

Latest (2026): $190 · +3.4% YoY. Source: county tax records.