284 Cessna St

South Waverly, PA 18840

$69,000C+

3 bd · 2.0 ba · 1,216 sqft · Built 2014 · Manufactured · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,144/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $425/mo
• Annual: $5,102/yr
• Cap rate: 13.69%
• Cash-on-cash: 26.41%
• DSCR: 2.17
• 1% rule: 1.66%
• Cash to close: $19,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $69k.
• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#177 in PA, #1,473 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, amenities D-, commute F.
• Athens Area SD (town): math 38% / reading 58% proficiency, ranked #227 of 539 in PA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 66 units permitted in Bradford County in 2024 (0 in 5+ unit buildings).
• Bradford County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~5 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.