65 W Overlook St

Lightstreet, PA 17859

$39,900A

2 bd · 2.0 ba · 1,174 sqft · Built 1988 · Manufactured · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,495/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$94
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $878/mo
• Annual: $10,532/yr
• Cap rate: 32.69%
• Cash-on-cash: 94.27%
• DSCR: 5.19
• 1% rule: 3.75%
• Cash to close: $11,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($276 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#1,125 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety D, schools F, amenities F.
• Central Columbia SD (suburban): math 58% / reading 73% proficiency, ranked #51 of 539 in PA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y 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 $16k; list at $40k implies a 149% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.