17 Canary Dr

Danville, PA 17821

$45,000B

3 bd · 1.5 ba · 1,064 sqft · Built 2005 · Manufactured · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,793/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$54
• HOA: −$600
• Vac / Maint / Mgmt: −$377
• Net cashflow: $527/mo
• Annual: $6,319/yr
• Cap rate: 20.33%
• Cash-on-cash: 50.15%
• DSCR: 3.23
• 1% rule: 3.98%
• Cash to close: $12,600

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $45k.
• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• It's been on market 43 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#508 in PA, #4,632 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: amenities D-, commute F, employment D-.
• Danville Area SD (suburban): math 50% / reading 67% proficiency, ranked #83 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 27 units permitted in Montour County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 3y ago; this cycle's ask has dropped $13k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.3% vs local median 5.1% in Danville — 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 43 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.