7500 Molly Pitcher Hwy, Lot #30

Shippensburg, PA 17257

$38,000B-

2 bd · 2.0 ba · 840 sqft · Built 2018 · Manufactured · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,190/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $636/mo
• Annual: $7,627/yr
• Cap rate: 26.36%
• Cash-on-cash: 71.68%
• DSCR: 4.19
• 1% rule: 3.13%
• Cash to close: $10,640

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $38k.
• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 26 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#741 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A; Watch: employment D+, amenities F, commute F.
• Shippensburg Area SD (town): math 31% / reading 52% proficiency, ranked #335 of 539 in PA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 161 active listings in the ZIP; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).
• 2 sale attempts since 8y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 26.4% vs local median 3.5% in Shippensburg — 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

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.