31 Jere Rd

Leacock, PA 17529

$83,900B

2 bd · 2.0 ba · 960 sqft · Built 2001 · Manufactured · Pending · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,692/mo
• Mortgage (P&I): −$440
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $831/mo
• Annual: $9,976/yr
• Cap rate: 18.18%
• Cash-on-cash: 42.46%
• DSCR: 2.89
• 1% rule: 2.02%
• Cash to close: $23,492

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $84k.
• At list price, monthly cash flow is $831 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• It's been on market 165 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($580 loan paydown + $2k appreciation (1.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pequea Valley SD (rural): math 27% / reading 44% proficiency, ranked #390 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $11k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $84k implies a 115% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 23% 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.

Questions for listing agent

• It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.