269 Kelton Rd

West Grove, PA 19390

$24,900D+

2 bd · 1.0 ba · 780 sqft · Built 1985 · Manufactured · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,058/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$432
• Net cashflow: $1,454/mo
• Annual: $17,444/yr
• Cap rate: 76.35%
• Cash-on-cash: 250.19%
• DSCR: 12.13
• 1% rule: 8.26%
• Cash to close: $6,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $25k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• It's been on market 30 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads 81/100 on livability (#183 in PA, #1,542 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• Avon Grove SD (suburban): math 54% / reading 61% proficiency, ranked #63 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 70 active listings in the ZIP; 1,513 units permitted in Chester County in 2024 (354 in 5+ unit buildings).
• Chester County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — 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 76.3% vs local median 1.8% in West Grove — 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.
• 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?
• 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?
• 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.