97 Acorn Ct E · Richboro, PA 18938

$349,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 20 Days on market

Built 1992

---

Why this score? — see what drove the D+ 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 +17.5/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +5.5/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New flooring going in Wed April 17th. Laminate in LR/DR, hallway and bathrooms. New neutral carpet in the bedrooms. Pictures will be updated once completed. This Warrington model has an open floor plan which is light and airy. Walk into a sunny porch which welcomes you to this bright and sunny home. Newer appliances, refrigerator, dishwasher, stove, micro-wave, washer and dryer were all replaced in 2017 when the owner purchased the home. Whole house water filter system. HVAC is 6 years old. The kitchen has an abundance of cabinets and a sliding door to the porch. Laminated flooring was recently put into the dining room. There is a pellet stove which significantly reduces heating costs in the winter. The kitchen is large and has an abundance of cabinet space and has two skylights. There is a sliding door to the enclosed porch from the kitchen. Full bath in the hallway. Laundry room has door to deck. En-suite main bath has comfort height toilet. There are gutter guards on all gutters. There is a retractable awning over the deck. Close to the clubhouse and the pool and mail boxes. Bus service available. Sewer included in monthly fee.

Key facts

• New appliances
• Community pool
• Built 1992

Tags

• SCREENED IN FRONT PORCH
• WHITE CABINETRY PANTRY
• ENDLESS GRANITE COUNTERS
• CUSTOM STONE BACK-SPLASH
• NEW APPLIANCES
• OVERSIZED CUSTOM CLOSET

Property features AI

Finance

• Other: Ground rent exists and is paid annually; Property manager present
• Financial info: Monthly land lease of $800 (99 years remaining); Annual ground rent applies
• HOA & community: HOA offers clubhouse and outdoor pool; HOA services include management, pool, recreation facility, road maintenance, sewer, snow removal, trash, and common area maintenance; One-time other fee of $100

Exterior

• Parking: Driveway
• Utilities: Community water; Community septic tank
• Home design: Manufactured single-wide home; Located in a 55+ senior community; Land lease ownership; Property in excellent condition
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Estimated year built
• Exterior features: Enclosed porch; Porches and decks; Screened outdoor living area; Community pool; Shed

Interior

• Kitchen: Dishwasher; Electric range/oven; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s) heating; Central air conditioning (electric)
• Interior features: Cathedral ceilings; Sliding glass door; Screened porch
• Laundry & utility: Washer and dryer on the main floor; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $349k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (11.0% below list).
• Recommended offer: $310k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 2.7% in Richboro — 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 75/100 on livability (#459 in PA, #4,183 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Central Bucks SD (suburban): math 55% / reading 71% proficiency, ranked #37 of 539 in PA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Buckingham El Sch (math 58% / reading 78%, grade B+, #187 of 1,518 statewide, top 13%, 450 students, 12% FRL).
• Market conditions: 125 active listings in the ZIP; high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $220k; list at $349k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,492 (11.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.27%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-39,692
• Equity at exit: $52,037

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-13,106
• Equity at exit: $30,175

Cash invested: $97,720 (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 18938

• Home prices YoY: -31.6%
• Active inventory: 125
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,105 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$211 /mo · $2,533/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $266

Break-even live

Break-even rent $2,768

Max offer price $349,000

Occupancy floor 86%

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $349,000 Active 20 DOM
2. 2026-06-17
   days on market $349,000 Active 19 DOM
3. 2026-06-16
   days on market $349,000 Active 18 DOM
4. 2026-06-15
   days on market $349,000 Active 17 DOM
5. 2026-06-13
   days on market $349,000 Active 15 DOM
6. 2026-06-09
   days on market $349,000 Active 11 DOM
7. 2026-06-08
   days on market $349,000 Active 10 DOM
8. 2026-06-07
   days on market $349,000 Active 9 DOM
9. 2026-06-04
   days on market $349,000 Active 6 DOM
10. 2026-06-03
    days on market $349,000 Active 5 DOM
11. 2026-06-02
    days on market $349,000 Active 4 DOM
12. 2026-06-01
    days on market $349,000 Active 3 DOM
13. 2026-05-31
    days on market $349,000 Active 2 DOM

ⓘ 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: $2,533 · $211/mo
• Projected year-2 tax: $4,024 · $335/mo
• Expected delta: +$1,490/yr (+$124/mo · 58.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,259
• − Mortgage interest: −$19,549
• − Property taxes: −$2,533
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,981
• − Management: −$2,981
• − Depreciation: −$10,153
• Taxable loss: −$2,683
• Est. tax savings @ 24.0%: +$644
• After-tax cash flow: $3,838/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: Central Bucks SD
• NCES district ID: 4205310
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 71% ▼ -12.00%
• Median HH income: $97,513
• Composite: 58.05/100
• National rank: #1032
• State rank: #37 of 539 in PA

Livability — Richboro

• Score: 75/100
• State rank: #459
• US rank: #4183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bucks County · 506,477 people
• City population: 10,864
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,649
• Household income: $184,833
• Rent vs Own: 11.0% rent · 89.0% own
• Severe rent burden: 212.0

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 6% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Italian 4% Scotch-Irish 3%
• Foreign-born: 10% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.64%
• Current HPI: 289.3189
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+134.2% since first listed

14 events — show timeline

• 2026-05-29 Listed $349,000 BRIGHT MLS
• 2026-03-29 Listing Removed — BRIGHT MLS
• 2026-03-23 Price Changed $334,900 BRIGHT MLS
• 2026-02-23 Listed $339,900 BRIGHT MLS
• 2024-07-24 Sold (MLS) $220,000 BRIGHT MLS
• 2024-05-14 Pending — BRIGHT MLS
• 2023-09-10 Listed $245,000 BRIGHT MLS
• 2023-08-21 Coming Soon $245,000 BRIGHT MLS
• 2017-12-15 Sold (MLS) $149,000 TREND
• 2017-12-15 Sold (MLS) $149,000 BRIGHT MLS
• 2017-10-27 Pending — TREND
• 2017-09-26 Price Changed $149,000 TREND
• 2017-07-07 Listed $159,000 TREND
• 2017-07-07 Listed $149,000 BRIGHT MLS

Property tax history

+1.3%/yr

Latest (2026): $2,533 · +6.1% YoY. Source: county tax records.