71 Cowbell Ln

Brittany Farms-The Highlands, PA 18914

$224,900C+

2 bd · 2.0 ba · 1,458 sqft · Built 1988 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,538/mo
• Mortgage (P&I): −$1,179
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$533
• Net cashflow: $640/mo
• Annual: $7,685/yr
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• 1% rule: 1.13%
• Cash to close: $62,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $225k.
• At list price, monthly cash flow is $640 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• It's been on market 16 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Central Bucks SD (suburban): math 55% / reading 71% proficiency, ranked #37 of 539 in PA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Butler El Sch (math 54% / reading 71%, grade B, #308 of 1,518 statewide, top 20%, 827 students, 14% FRL); Unami Ms (math 36% / reading 66%, grade C, #116 of 512 statewide, top 24%, 777 students, 9% FRL); Central Bucks Hs-South (math 91% / reading 75%, grade A, #14 of 437 statewide, top 3%, 1,720 students, 9% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 130 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 2.8% in Brittany Farms-The Highlands — 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.