104 Raptor Dr · Hanover, PA 17331

$92,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 149 Days on market

Built 2003 $55/sqft · 5% below area Est $97k · 5% under $915/mo HOA · 45% of rent

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Why this score? — see what drove the C 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 +16.5/30.0
• 1% rule +10.0/10.0
• ARV discount +9.9/15.0
• DSCR +5.1/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Eagle View! This affordable home is situated in a beautiful manufactured home park and includes 3 bedrooms, 2 bathrooms, and a gorgeous covered porch with views of the mountains and surrounding area. From the spacious driveway a new deck/ramp awaits on the right cascading to the front door, and to the left a huge storage shed. The rooms are large and the primary bedroom includes a walk-in closet, bath with a garden tub, sky light, and a separate shower. Yard boasts a huge 12'x20' shed! Come see today!

Key facts

• Covered porch
• Huge storage shed
• Walk-in closet

Tags

• COVERED PORCH
• NEW DECK
• HUGE STORAGE SHED
• WALK-IN CLOSET
• GARDEN TUB
• SKY LIGHT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $54 ($652/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.7% in Hanover — 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.

Location & tenants

• Location reads 76/100 on livability (#373 in PA, #3,295 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D, commute F.
• Conewago Valley SD (suburban): math 39% / reading 56% proficiency, ranked #215 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 386 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $92k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.
• 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.

Recommended offer $80,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.23% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 3.7

CMA / ARV

• ARV (median comp): $97,170
• List price: $92,000
• Delta: -5.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.71×
• Total profit: $-7,342
• Equity at exit: $13,717

10-year hold

• IRR: 6.7%
• Equity multiple: 1.60×
• Total profit: $15,377
• Equity at exit: $7,954

Cash invested: $25,760 (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 17331

• Home prices YoY: -33.8%
• Rents YoY: 4.7%
• Active inventory: 386
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,050 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$129 /mo · $1,551/yr
• Insurance: −$38
• HOA: −$915
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $54

Break-even live

Break-even rent $1,981

Max offer price $92,000

Occupancy floor 92%

Sensitivity live

Price	-10% $106	-5% $80	+0% $54	+5% $28	+10% $2
Rent	-10% $-108	-5% $-27	+0% $54	+5% $135	+10% $216
Rate	-1.0pp $101	-0.5pp $78	base $54	+0.5pp $31	+1.0pp $6

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
267 Summerfield DR Hanover, PA	3.0	4.0	2007	$2,395	$1.19	44d	1	1.33mi
267 Summerfield Dr Unit C New Oxford, PA	3.0	4.0	2007	$2,395	$1.19	21d	1	1.41mi

HOA detail

• Monthly dues: $915 · $10,980/yr

Listing history 20 events

1. 2026-05-31
   status $92,000 Pending 149 DOM
2. 2026-05-30
   days on market $92,000 Active 149 DOM
3. 2026-04-08
   price $92,000 517-char remark

   Show marketing remark (517 chars)

   Welcome to Eagle View! This affordable home is situated in a beautiful manufactured home park and includes 3 bedrooms, 2 bathrooms, and a gorgeous covered porch with views of the mountains and surrounding area. From the spacious driveway a new deck/ramp awaits on the right cascading to the front door, and to the left a huge storage shed. The rooms are large and the primary bedroom includes a walk-in closet, bath with a garden tub, sky light, and a separate shower. Yard boasts a huge 12'x20' shed! Come see today!

4. 2026-01-01
   listed $97,000 Active 517-char remark

   Show marketing remark (517 chars)

   Welcome to Eagle View! This affordable home is situated in a beautiful manufactured home park and includes 3 bedrooms, 2 bathrooms, and a gorgeous covered porch with views of the mountains and surrounding area. From the spacious driveway a new deck/ramp awaits on the right cascading to the front door, and to the left a huge storage shed. The rooms are large and the primary bedroom includes a walk-in closet, bath with a garden tub, sky light, and a separate shower. Yard boasts a huge 12'x20' shed! Come see today!

5. 2025-12-31
   historical
6. 2025-10-23
   price $97,000
7. 2025-08-18
   price $104,900
8. 2025-07-11
   listed $110,000 Active
9. 2025-07-08
   historical
10. 2024-07-28
    historical
11. 2024-07-11
    price $115,000
12. 2024-07-01
    price $119,000
13. 2024-06-07
    listed $120,000 Active
14. 2023-07-26
    historical
15. 2023-07-21
    listed $90,000 Active
16. 2014-04-23
    soldstatus $47,000
17. 2014-03-24
    historical
18. 2014-03-04
    listed $49,900
19. 2012-11-01
    historical
20. 2012-06-01
    listed $59,900

ⓘ 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: $1,551 · $129/mo
• Projected year-2 tax: $1,551 · $129/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,598
• − Mortgage interest: −$5,153
• − Property taxes: −$1,551
• − Insurance: −$460
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$10,980
• − Depreciation: −$2,676
• Taxable loss: −$158
• Est. tax savings @ 24.0%: +$38
• After-tax cash flow: $690/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: Conewago Valley SD
• NCES district ID: 4206550
• Math proficiency: 39% ▼ -15.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $54,603
• Composite: 41.08/100
• National rank: #3572
• State rank: #215 of 539 in PA

Livability — Hanover

• Score: 76/100
• State rank: #373
• US rank: #3295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: York County · 278,806 people
• City population: 56,443
• Metro: York-Hanover, PA
• Population (ZIP): 56,443
• Household income: $79,488
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 1076.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 102,494 people
• By 2030: 101,890 · -0.6%
• By 2040: 98,417 · -4.0%
• By 2050: 92,014 · -10.2%
• By 2075: 76,128 · -25.7%
• By 2100: 58,931 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 7% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+33.6) · D 32.7% · R 66.4%
• 2008→2024 swing: -14.1pp toward R · 2008: -19.6pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+34.1 2016: R+36.4 2012: R+27.6 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.48%
• Current HPI: 251.8974
• Rent YoY: ▲ 4.67%
• Metro: York-Hanover, PA
• 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

+53.6% since first listed

18 events — show timeline

• 2026-04-08 Price Changed $92,000 BRIGHT MLS
• 2026-01-01 Listed $97,000 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-10-23 Price Changed $97,000 BRIGHT MLS
• 2025-08-18 Price Changed $104,900 BRIGHT MLS
• 2025-07-11 Listed $110,000 BRIGHT MLS
• 2025-07-08 Coming Soon — BRIGHT MLS
• 2024-07-28 Listing Removed — BRIGHT MLS
• 2024-07-11 Price Changed $115,000 BRIGHT MLS
• 2024-07-01 Price Changed $119,000 BRIGHT MLS
• 2024-06-07 Listed $120,000 BRIGHT MLS
• 2023-07-26 Listing Removed — BRIGHT MLS
• 2023-07-21 Listed $90,000 BRIGHT MLS
• 2014-04-23 Sold (MLS) $47,000 BRIGHT MLS
• 2014-03-24 Listing Removed — BRIGHT MLS
• 2014-03-04 Listed $49,900 BRIGHT MLS
• 2012-11-01 Listing Removed — BRIGHT MLS
• 2012-06-01 Listed $59,900 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2026): $1,551 · +1.9% YoY. Source: county tax records.