387 Rebecca St

Somerset, PA 15501

$92,000C+

2 bd · 1.0 ba · 792 sqft · Built 1970 · Manufactured · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $939/mo
• Mortgage (P&I): −$482
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $177/mo
• Annual: $2,124/yr
• Cap rate: 8.60%
• Cash-on-cash: 8.25%
• DSCR: 1.37
• 1% rule: 1.02%
• Cash to close: $25,760

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $92k.
• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $92k).
• 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 $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#1,031 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing B+; Watch: amenities F, commute F, employment D-.
• Somerset Area SD (town): math 40% / reading 61% proficiency, ranked #185 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 98 active listings in the ZIP; 78 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $30k; list at $92k implies a 207% gain — meaningful room to come down on a strong offer.
• Cap rate 8.6% vs local median 4.3% in Somerset — 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.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.