241 Boxwood Ct

Bath, PA 18014

$49,900D+

2 bd · 1.0 ba · 938 sqft · Built 1988 · Manufactured · Pending · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,752/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$63
• HOA: −$998
• Vac / Maint / Mgmt: −$368
• Net cashflow: $61/mo
• Annual: $734/yr
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• 1% rule: 3.51%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $61 ($734/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 52 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#959 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Northampton Area SD (suburban): math 47% / reading 54% proficiency, ranked #153 of 539 in PA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 57% of rent.
• Market conditions: 62 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• 2 sale attempts since 21y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $50k implies a 56% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.0% in Bath — 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 52 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.
• 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.