304 Raven Ct

Hampden, PA 17050

$63,900B

2 bd · 1.5 ba · 840 sqft · Built 2007 · Manufactured · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,767/mo
• Mortgage (P&I): −$335
• Tax + insurance: −$128
• HOA: −$570
• Vac / Maint / Mgmt: −$371
• Net cashflow: $362/mo
• Annual: $4,344/yr
• Cap rate: 14.34%
• Cash-on-cash: 28.74%
• DSCR: 2.28
• 1% rule: 2.76%
• Cash to close: $17,892

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $64k.
• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• It's been on market 24 days — a 2% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Cumberland Valley SD (suburban): math 54% / reading 71% proficiency, ranked #52 of 539 in PA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Watch-outs: flood insurance adds $66/mo; HOA is 32% of rent.
• Market conditions: Rents rising (+2.0%/yr); 339 active listings in the ZIP; high-income renter base; 1,052 units permitted in Cumberland County in 2024 (310 in 5+ unit buildings).
• Cumberland County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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 $38k; list at $64k implies a 68% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; 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

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.