66 Kip Rd

Millersburg, PA 17032

$77,500C+

3 bd · 2.0 ba · 924 sqft · Built 2019 · Manufactured · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $959/mo
• Mortgage (P&I): −$406
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $166/mo
• Annual: $1,993/yr
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.55
• 1% rule: 1.24%
• Cash to close: $21,700

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $78k.
• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $78k).
• It's been on market 26 days — a 2% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $536 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#480 in PA, #4,444 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Halifax Area SD (rural): math 28% / reading 55% proficiency, ranked #310 of 539 in PA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Halifax Area Hs (math 54%, 244 students, 30% FRL) — zoned schools at 30% FRL track the district average.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 4.5% in Millersburg — 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

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.