178 Ash Cir

Centre Hall, PA 16828

$49,900B

3 bd · 2.0 ba · 1,064 sqft · Built 1998 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,842/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$387
• Net cashflow: $1,150/mo
• Annual: $13,805/yr
• Cap rate: 33.96%
• Cash-on-cash: 98.80%
• DSCR: 5.40
• 1% rule: 3.69%
• Cash to close: $13,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#684 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Penns Valley Area SD (rural): math 48% / reading 57% proficiency, ranked #144 of 539 in PA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $35k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

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 A-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?
• 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.