40 Jeanette St

Conyngham, PA 18655

$99,900D

2 bd · 2.0 ba · 980 sqft · Built 2022 · Manufactured · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $700/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$147
• Net cashflow: $-86/mo
• Annual: $-1,029/yr
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• 1% rule: 0.70%
• Cash to close: $27,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $85k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $70k (29.9% below list).
• It's been on market 69 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (29.9% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 77/100 on livability (#331 in PA, #2,897 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Greater Nanticoke Area SD (suburban): math 14% / reading 34% proficiency, ranked #479 of 539 in PA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gna El Ctr (math 15% / reading 36%, grade F, #1,172 of 1,518 statewide, top 77%, 505 students, 100% FRL); Greater Nanticoke Area Ed Ctr (math 4% / reading 32%, grade F, #453 of 512 statewide, top 89%, 539 students, 100% FRL); Greater Nanticoke Area Shs (math 52%, 714 students, 89% FRL) — zoned schools average 96% FRL vs 52% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $100k implies a 1232% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.3% vs local median 3.0% in Conyngham — 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 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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.