2719 Greencrest Dr · Erie, PA 16506

$104,900

3 bd · 2.0 ba · 1,104 sqft · Manufactured public records · 29 Days on market

Manufactured home Built 2020 $417/mo HOA · 31% of rent ↓ 13% since listing

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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).

• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.8/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

Key facts

• Open floor plan
• Large eat in kitchen
• Community room

Tags

• PUBLIC TRANSPORTATION
• COMMUNITY ROOM
• POOL
• PLAYGROUND
• OPEN FLOOR PLAN
• LARGE EAT IN KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $105k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (25.4% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $78k (25.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 83/100 on livability (#109 in PA, #840 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D+, employment F.
• Millcreek Township SD (suburban): math 46% / reading 65% proficiency, ranked #105 of 539 in PA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Asbury El Sch (math 61% / reading 74%, grade B+, #192 of 1,518 statewide, top 13%, 539 students, 34% FRL); Westlake Ms (math 29% / reading 60%, grade D, #194 of 512 statewide, top 39%, 470 students, 59% FRL); Mcdowell Hs (math 76% / reading 50%, grade B-, #72 of 437 statewide, top 16%, 2,205 students, 40% FRL) — zoned schools average 45% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $78,295 (25.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 4.57%
• Cash-on-cash: -6.15%
• DSCR: 0.73
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-26,279
• Equity at exit: $15,641

10-year hold

• IRR: -22.3%
• Equity multiple: -0.16×
• Total profit: $-33,969
• Equity at exit: $9,070

Cash invested: $29,372 (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 16506

• Active inventory: 99
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$188 /mo · $2,262/yr
• Insurance: −$44
• HOA: −$417
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-151

Break-even live

Break-even rent $1,518

Max offer price $78,295

Occupancy floor —

Sensitivity live

Price	-10% $-91	-5% $-121	+0% $-151	+5% $-180	+10% $-210
Rent	-10% $-255	-5% $-203	+0% $-151	+5% $-98	+10% $-46
Rate	-1.0pp $-98	-0.5pp $-124	base $-151	+0.5pp $-178	+1.0pp $-205

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1046 Grace St Erie, PA	2.0	1.0	850	$1,400	$1.65	46d	1	1.08mi
2412 Powell Ave Erie, PA	3.0	2.0	1500	$1,550	$1.03	46d	1	1.12mi
4060 Chilton Ct Unit 2 Erie, PA	2.0	1.0	768	$1,400	$1.82	46d	1	1.46mi

HOA detail

• Monthly dues: $417 · $5,004/yr
• Likely covers: pool

Listing history 5 events

1. 2026-05-19
   status Pending 703-char remark

   Show marketing remark (703 chars)

   So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

2. 2026-05-04
   price $104,900 703-char remark

   Show marketing remark (703 chars)

   So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

3. 2026-04-29
   status Active 703-char remark

   Show marketing remark (703 chars)

   So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

4. 2026-03-26
   historical 703-char remark

   Show marketing remark (703 chars)

   So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

5. 2026-03-16
   listed $119,900 Active 703-char remark

   Show marketing remark (703 chars)

   So clean you could eat off the floors! Located in a welcoming and beautifully maintained Millcreek park close to public transportation, entertainment and shopping, and complete with community room, pool and playground, this mint condition, one single owner 24x46 home is sure to impress. Six years young, the convenient open floor plan includes a large eat in kitchen with loads of cupboards and spotless appliances, gracious sized living room, laundry room with storage, 3 bedrooms and 2 full baths, including a master suite with jumbo closet and a spacious en suite bath with easy walk in shower. A large front porch, along with a storage shed for your seasonal items and tools, round out the picture.

ⓘ 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: $2,262 · $188/mo
• Projected year-2 tax: $2,262 · $188/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $15,929
• − Mortgage interest: −$5,876
• − Property taxes: −$2,262
• − Insurance: −$524
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − HOA: −$5,004
• − Depreciation: −$3,052
• Taxable loss: −$3,337
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $-1,006/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: Millcreek Township SD
• NCES district ID: 4215330
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 65% ▼ -9.00%
• Median HH income: $55,734
• Composite: 47.82/100
• National rank: #2224
• State rank: #105 of 539 in PA

Livability — Erie

• Score: 83/100
• State rank: #109
• US rank: #840

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 92,215 people
• City population: 92,215
• Metro: Erie, PA
• Population (ZIP): 24,070
• Household income: $81,060
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 894.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Italian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -152.21%
• Current HPI: 228.7506
• Rent YoY: —
• Metro: Erie, 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

-12.5% since first listed

5 events — show timeline

• 2026-05-19 Pending — GEBOR
• 2026-05-04 Price Changed $104,900 GEBOR
• 2026-04-29 Relisted — GEBOR
• 2026-03-26 Delisted — GEBOR
• 2026-03-16 Listed $119,900 GEBOR

Property tax history

+3.5%/yr

Latest (2026): $2,262 · +3.6% YoY. Source: county tax records.