315 Cole Rd

Sandy Lake, PA 16145

$100,000D+

3 bd · 1.0 ba · 980 sqft · Built 1980 · Manufactured · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $875/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $23/mo
• Annual: $272/yr
• Cap rate: 6.57%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• 1% rule: 0.88%
• Cash to close: $28,000

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $23 ($272/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (12.5% below list).
• It's been on market 38 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.5% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($691 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 75/100 on livability (#438 in PA, #4,011 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D-, amenities F.
• Lakeview SD (rural): math 45% / reading 61% proficiency, ranked #143 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 62 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.