17 Coral Dr

North Middleton, PA 17013

$59,900B-

2 bd · 2.0 ba · 980 sqft · Built 1999 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,552/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$63
• HOA: −$600
• Vac / Maint / Mgmt: −$326
• Net cashflow: $249/mo
• Annual: $2,989/yr
• Cap rate: 11.28%
• Cash-on-cash: 17.82%
• DSCR: 1.79
• 1% rule: 2.59%
• Cash to close: $16,772

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Carlisle Area SD (urban): math 33% / reading 55% proficiency, ranked #277 of 539 in PA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carlisle Area Hs (math 70% / reading 75%, grade B+, #37 of 437 statewide, top 8%, 1,578 students, 39% FRL).
• Zoned-school proficiency averages 72% at this address vs 44% district-wide (+28 pts) — the actual schools serving this property are materially stronger than the Carlisle Area SD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 39% of rent.
• Market conditions: Rents rising (+2.5%/yr); 308 active listings in the ZIP; 1,052 units permitted in Cumberland County in 2024 (310 in 5+ unit buildings).
• Cumberland County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 17y ago; this cycle's ask is 100% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $28k; list at $60k implies a 118% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $17k cash investment doubles in ~7 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.