320 Cessna St

Sayre, PA 18840

$58,000B

2 bd · 2.0 ba · 1,190 sqft · Built 1995 · Manufactured · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $434/mo
• Annual: $5,206/yr
• Cap rate: 15.27%
• Cash-on-cash: 32.06%
• DSCR: 2.43
• 1% rule: 1.83%
• Cash to close: $16,240

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $58k.
• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• It's been on market 22 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#419 in PA, #3,808 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Athens Area SD (town): math 38% / reading 58% proficiency, ranked #227 of 539 in PA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 66 units permitted in Bradford County in 2024 (0 in 5+ unit buildings).
• Bradford County population projected at -23% 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.3% vs local median 3.4% in Sayre — 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

• 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.