304 W Penn St · Martinsburg, PA 16662

$67,900

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 282 Days on market

Built 2004 2,613 sqft lot $52/sqft · 25% above area Est $54k · 25% over ↓ 14% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.5/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

Key facts

• Covered porch
• Parking area
• Open floorplan

Tags

• COVERED PORCH
• LARGE KITCHEN
• OPEN FLOORPLAN
• NEWER METAL ROOF
• NEW FLOORING
• PARKING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#580 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Spring Cove SD (town): math 31% / reading 51% proficiency, ranked #344 of 539 in PA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($469 loan paydown + $2k appreciation (2.9% local appreciation)).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.55%
• DSCR: 2.36
• GRM: 4.8

CMA / ARV

• ARV (median comp): $54,387
• List price: $67,900
• Delta: 24.85%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
363 Ake Ln	0.28mi	3/2.0	1,248 (-4%)	7mo	$59,000	$47	74
564 Camerer Ln	0.34mi	3/2.0	1,216 (-6%)	15mo	$16,180	$13	61
301 N Railroad St	0.23mi	3/2.5	1,456 (+12%)	8mo	$63,000	$43	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.2%
• Equity multiple: 3.04×
• Total profit: $38,737
• Equity at exit: $30,243

10-year hold

• IRR: 36.4%
• Equity multiple: 6.00×
• Total profit: $95,060
• Equity at exit: $46,386

Cash invested: $19,012 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16662

• Home prices YoY: 2.1%
• Active inventory: 20
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$356
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $484

Break-even live

Break-even rent $569

Max offer price $67,900

Occupancy floor 54%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,975
• Closing costs: $2,037
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $67,900 Active 282 DOM
2. 2026-06-17
   days on market $67,900 Active 281 DOM
3. 2026-06-16
   days on market $67,900 Active 280 DOM
4. 2026-06-15
   days on market $67,900 Active 279 DOM
5. 2026-06-13
   days on market $67,900 Active 277 DOM
6. 2026-06-12
   days on market $67,900 Active 276 DOM
7. 2026-06-09
   days on market $67,900 Active 273 DOM
8. 2026-06-08
   days on market $67,900 Active 272 DOM
9. 2026-06-08
   days on market $67,900 Active 271 DOM
10. 2026-06-05
    days on market $67,900 Active 269 DOM
11. 2026-06-04
    days on market $67,900 Active 267 DOM
12. 2026-06-02
    days on market $67,900 Active 266 DOM
13. 2026-06-01
    days on market $67,900 Active 265 DOM
14. 2026-05-31
    days on market $67,900 Active 264 DOM
15. 2026-04-29
    status Active 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

16. 2026-03-13
    status Pending 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

17. 2025-10-31
    price $67,900 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

18. 2025-10-06
    price $69,900 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

19. 2025-09-11
    price $70,900 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

20. 2025-07-23
    listed $72,900 Active 312-char remark

    Show marketing remark (312 chars)

    Attractive Double Wide on a large rented lot, featuring a spacious covered porch, 2 sheds and parking area. The rooms are bright and spacious with large kitchen and open floorplan. Newer metal Roof in 2017. Some new flooring, plumbing and refrigerator. Room to move both inside and outside! Monthly Rent is $485

21. 2023-08-25
    soldstatus $65,900 Closed 329-char remark

    Show marketing remark (329 chars)

    Well cared for double wide on rented lot features covered porch, handicap access ramp, open living area. Large kitchen with all appliances. built in entertainment center in living area. Nice sized bedrooms, off street parking. Some new plumbing in 2022. Monthly rent is $405 and includes trash. Buyer must be approved for lease.

22. 2023-08-14
    historical 329-char remark

    Show marketing remark (329 chars)

    Well cared for double wide on rented lot features covered porch, handicap access ramp, open living area. Large kitchen with all appliances. built in entertainment center in living area. Nice sized bedrooms, off street parking. Some new plumbing in 2022. Monthly rent is $405 and includes trash. Buyer must be approved for lease.

23. 2023-08-08
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Well cared for double wide on rented lot features covered porch, handicap access ramp, open living area. Large kitchen with all appliances. built in entertainment center in living area. Nice sized bedrooms, off street parking. Some new plumbing in 2022. Monthly rent is $405 and includes trash. Buyer must be approved for lease.

24. 2023-06-21
    listed $78,700 Active 329-char remark

    Show marketing remark (329 chars)

    Well cared for double wide on rented lot features covered porch, handicap access ramp, open living area. Large kitchen with all appliances. built in entertainment center in living area. Nice sized bedrooms, off street parking. Some new plumbing in 2022. Monthly rent is $405 and includes trash. Buyer must be approved for lease.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $779 · $65/mo
• Projected year-2 tax: $926 · $77/mo
• Expected delta: +$147/yr (+$12/mo · 18.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,176
• − Mortgage interest: −$3,803
• − Property taxes: −$779
• − Insurance: −$340
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$1,975
• Taxable income: $5,010
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $4,605/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spring Cove SD
• NCES district ID: 4222530
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 51% ▼ -10.00%
• Median HH income: $46,105
• Composite: 34.88/100
• National rank: #5083
• State rank: #344 of 539 in PA

Livability — Martinsburg

• Score: 73/100
• State rank: #580
• US rank: #5581

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsburg, PA
• Population (ZIP): 5,866

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Slovak 1% Romanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 90% English-only · German/W. Germanic 9% Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.92%
• Current HPI: 141.408
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

-13.7% since first listed

10 events — show timeline

• 2026-04-29 Relisted — AHARMLS
• 2026-03-13 Pending — AHARMLS
• 2025-10-31 Price Changed $67,900 AHARMLS
• 2025-10-06 Price Changed $69,900 AHARMLS
• 2025-09-11 Price Changed $70,900 AHARMLS
• 2025-07-23 Listed $72,900 AHARMLS
• 2023-08-25 Sold (MLS) $65,900 AHARMLS
• 2023-08-14 Delisted — AHARMLS
• 2023-08-08 Pending — AHARMLS
• 2023-06-21 Listed $78,700 AHARMLS

Property tax history

-3.0%/yr

Latest (2025): $779 · +4.3% YoY. Source: county tax records.