34 Jess Ln

North Fayette, PA 15057

$88,500B+

3 bd · 2.0 ba · 1,512 sqft · Built 2005 · Manufactured · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,200/mo
• Mortgage (P&I): −$464
• Tax + insurance: −$128
• HOA: −$505
• Vac / Maint / Mgmt: −$462
• Net cashflow: $641/mo
• Annual: $7,692/yr
• Cap rate: 14.98%
• Cash-on-cash: 31.04%
• DSCR: 2.38
• 1% rule: 2.49%
• Cash to close: $24,780

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $88k.
• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 120 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $612 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• West Allegheny SD (suburban): math 64% / reading 77% proficiency, ranked #22 of 539 in PA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mckee El Sch (math 65% / reading 80%, grade A, #121 of 1,518 statewide, top 8%, 489 students, 38% FRL); West Allegheny Ms (math 46% / reading 70%, grade B, #59 of 512 statewide, top 12%, 767 students, 30% FRL); West Allegheny Shs (math 76%, 997 students, 23% FRL).
• Watch-outs: HOA is 23% of rent.
• Market conditions: 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 13y 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 $58k; list at $88k implies a 52% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.