32 Olivers Park Dr

Annville, PA 17003

$100,000B+

3 bd · 2.0 ba · 1,216 sqft · Built 2016 · Manufactured · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,565/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$131
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $581/mo
• Annual: $6,969/yr
• Cap rate: 13.26%
• Cash-on-cash: 24.89%
• DSCR: 2.11
• 1% rule: 1.57%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#384 in PA, #3,423 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Annville-Cleona SD (rural): math 38% / reading 58% proficiency, ranked #202 of 539 in PA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Annville El Sch (math 35% / reading 59%, grade D-, #737 of 1,518 statewide, top 52%, 444 students, 41% FRL) — zoned schools average 41% FRL vs 23% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 167 active listings in the ZIP; 315 units permitted in Lebanon County in 2024 (36 in 5+ unit buildings).
• Lebanon County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 19y 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 $10k; list at $100k implies a 900% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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.
• Cap rate 13.3% vs local median 1.1% in Annville — 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

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.