2723 S Queen St Lot 75 · Spry, PA 17403

$24,500

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 7 Days on market

Built 1976 $602/mo HOA · 51% of rent

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 1-bathroom 1976 singlewide has seen several renovations over the past 3 years and is move-in ready. The most recent upgrades include a new roof in 2024, new hot water heater in 2025. It is located in the M & G Mobile Home Park. The home features an enclosed porch, off-street parking, and includes the refrigerator, stove (propane), washer, and dryer. Forced hot air oil heat. Lot rent is $602/month, covering water, sewer, and trash. All buyers must be park-approved by PMI and adhere to all park rules and pet policies. Cash only due to age of home. No financing available.

Key facts

• New hot water heater
• Includes stove
• Enclosed porch

Tags

• NEW ROOF
• NEW HOT WATER HEATER
• ENCLOSED PORCH
• OFF-STREET PARKING
• INCLUDES REFRIGERATOR
• INCLUDES STOVE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $24k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).

Location & tenants

• Location reads 81/100 on livability (#173 in PA, #1,445 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D-, commute F.
• Dallastown Area SD (suburban): math 47% / reading 63% proficiency, ranked #102 of 539 in PA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dallastown Area Shs (math 71% / reading 24%, grade D, #164 of 437 statewide, top 38%, 2,014 students, 33% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 223 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $169 of loan paydown is wiped out by about $735 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $7k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 51% of rent.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,500

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 4.79% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.38%
• DSCR: 2.40
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 1.78×
• Total profit: $5,350
• Equity at exit: $3,653

10-year hold

• IRR: 29.8%
• Equity multiple: 4.33×
• Total profit: $22,842
• Equity at exit: $2,118

Cash invested: $6,860 (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 17403

• Home prices YoY: -26.9%
• Rents YoY: 4.4%
• Active inventory: 223
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,174 medium
• Mortgage (P&I): −$128
• Tax from tax record: −$8 /mo · $91/yr
• Insurance: −$10
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$602
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $113

Break-even live

Break-even rent $1,031

Max offer price $24,500

Occupancy floor 85%

Sensitivity live

Price	-10% $127	-5% $120	+0% $113	+5% $106	+10% $99
Rent	-10% $20	-5% $67	+0% $113	+5% $159	+10% $206
Rate	-1.0pp $125	-0.5pp $119	base $113	+0.5pp $107	+1.0pp $100

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: $6,125
• Closing costs: $735
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Oak Manor Dr York, PA	2.0	1.0	750	$1,080	$1.44	23d	1	0.69mi

HOA detail

• Monthly dues: $602 · $7,224/yr
• Likely covers: watersewertrash

Listing history 2 events

1. 2026-03-16
   status Pending
2. 2026-03-09
   listed $24,500 Active

ⓘ 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: $91 · $8/mo
• Projected year-2 tax: $239 · $20/mo
• Expected delta: +$148/yr (+$12/mo · 162.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,091
• − Mortgage interest: −$1,372
• − Property taxes: −$91
• − Insurance: −$920
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − HOA: −$7,224
• − Depreciation: −$713
• Taxable income: $1,516
• Est. tax owed @ 24.0%: −$364
• After-tax cash flow: $991/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: Dallastown Area SD
• NCES district ID: 4207230
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 63% ▼ -9.00%
• Median HH income: $61,805
• Composite: 48.0/100
• National rank: #2199
• State rank: #102 of 539 in PA

Livability — Spry

• Score: 81/100
• State rank: #173
• US rank: #1445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spry, PA
• County: York County · 278,806 people
• City population: 184,764
• Metro: York-Hanover, PA
• Population (ZIP): 40,287
• Household income: $75,384
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1305.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Arabic 1%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.51%
• Current HPI: 284.0731
• Rent YoY: ▲ 4.43%
• Metro: York-Hanover, PA
• 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

2 events — show timeline

• 2026-03-16 Pending — BRIGHT MLS
• 2026-03-09 Listed $24,500 BRIGHT MLS

Property tax history

+2.0%/yr

Latest (2025): $91 · +0.0% YoY. Source: county tax records.