36 Leesburg Ct

North Fayette, PA 15126

$24,999D+

2 bd · 1.5 ba · 960 sqft · Built 2022 · Manufactured · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,242/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$75
• HOA: −$692
• Vac / Maint / Mgmt: −$261
• Net cashflow: $83/mo
• Annual: $994/yr
• Cap rate: 10.27%
• Cash-on-cash: 14.20%
• DSCR: 1.63
• 1% rule: 4.97%
• Cash to close: $7,000

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $25k. Condition is rated excellent.
• At list price, monthly cash flow is $83 ($994/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• It's been on market 48 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Location reads: area grade D — 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.
• Watch-outs: property tax is 3.1% of price; HOA is 56% of rent.
• Market conditions: 57 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $4k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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?
• 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.