511 Earnhardt Dr

East Altoona, PA 16601

$42,000C+

3 bd · 2.0 ba · 910 sqft · Built 2006 · Manufactured · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,251/mo
• Mortgage (P&I): −$220
• Tax + insurance: −$70
• HOA: −$408
• Vac / Maint / Mgmt: −$263
• Net cashflow: $290/mo
• Annual: $3,485/yr
• Cap rate: 14.59%
• Cash-on-cash: 29.63%
• DSCR: 2.32
• 1% rule: 2.98%
• Cash to close: $11,760

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $42k. Condition is rated fair.
• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• It's been on market 16 days — a 2% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $23k; list at $42k implies a 83% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Major: deck flooring — damaged and uneven
• Moderate: kitchen cabinets — dated and worn
• Moderate: bathroom fixtures — standard and dated