11 Heather Dr

Schlusser, PA 17013

$115,900B

3 bd · 2.0 ba · 1,560 sqft · Built 1986 · Manufactured · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,959/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$411
• Net cashflow: $832/mo
• Annual: $9,978/yr
• Cap rate: 14.90%
• Cash-on-cash: 30.75%
• DSCR: 2.37
• 1% rule: 1.69%
• Cash to close: $32,452

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $116k.
• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• It's been on market 74 days — a 6% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#1,058 in PA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Carlisle Area SD (urban): math 33% / reading 55% proficiency, ranked #277 of 539 in PA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crestview El Sch (math 37% / reading 62%, grade D, #654 of 1,518 statewide, top 47%, 516 students, 51% FRL); Wilson Ms (math 20% / reading 53%, grade F, #307 of 512 statewide, top 61%, 577 students, 52% FRL); Carlisle Area Hs (math 70% / reading 75%, grade B+, #37 of 437 statewide, top 8%, 1,578 students, 39% FRL) — zoned schools average 47% FRL vs 30% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 312 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 7y 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 $37k; list at $116k implies a 213% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.9% vs local median 3.5% in Schlusser — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.