232 Yankee Rd #316 · Richland, PA 18951

$99,900

2 bd · 2.0 ba · 1,056 sqft · SingleFamily · 8 Days on market

Built 2009 Good condition Est $115k · 13% under

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Why this score? — see what drove the B+ 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).

• Cash flow +30.0/30.0
• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully 2009 Marlette double-wide manufactured home located in the desirable Richland Meadows community in Quakertown, PA. Situated on a lot toward the back of the neighborhood, this move-in-ready home offers comfortable one-floor living with 2 spacious bedrooms and 2 full bathrooms. Both bedrooms feature large walk-in closets, while fresh paint and new flooring throughout create a bright, modern feel. The thoughtfully designed floor plan includes a spacious living area, a well-appointed kitchen with a center island, and a dedicated dining room perfect for everyday meals or entertaining guests. A separate laundry room includes the washer and dryer, and a convenient hallw

Key facts

• One-floor living
• 3 parking spots
• Built 2009

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• ONE-FLOOR LIVING
• LARGE WALK-IN CLOSETS
• WELL-APPOINTED KITCHEN
• DEDICATED DINING ROOM
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Property condition listed as good
• Financial info: Monthly land lease: $655; Land lease years remaining: 99
• HOA & community: Land lease community (Richland Meadows)

Exterior

• Parking: Driveway parking (3 spaces total)
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Manufactured home (double wide, Marlette model); Single-story entry level; Estimated year built
• Construction: Vinyl siding; Double wide manufactured construction; 24 ft by 44 ft
• Exterior features: Located in Richland Meadows park; No basement

Interior

• Kitchen: Oven/Range - Electric; Refrigerator; Kitchen island and table space
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (electric); Ceiling fans for cooling; Window air conditioning units (electric)
• Interior features: Ceiling fans; Dining area; Floor plan - traditional; Kitchen island; Kitchen table space; Recessed lighting; Walk-in closets; Entry-level bedroom
• Laundry & utility: Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).

Location & tenants

• Location reads 74/100 on livability (#498 in PA, #4,585 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Quakertown Community SD (suburban): math 45% / reading 55% proficiency, ranked #154 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 144 active listings in the ZIP; solid renter incomes; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.79% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.97%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $115,104
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 Dogwood Dr	0.14mi	2/2.0	1,056 (0%)	3mo	$115,000	$109	91
20 Laurel Run Dr	0.15mi	2/2.0	1,080 (+2%)	1mo	$111,500	$103	88
215 Laurel Run Dr	0.10mi	2/2.0	1,056 (0%)	13mo	$115,000	$109	85
400 Laurel Run Dr	0.17mi	2/2.0	1,056 (0%)	9mo	$105,000	$99	84
232 Yankee Rd #156	0.24mi	2/1.0	960 (-9%)	5mo	$35,000	$36	65
290 Poplar Dr	0.06mi	2/1.0	938 (-11%)	12mo	$109,000	$116	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 25.8%
• Equity multiple: 2.07×
• Total profit: $29,815
• Equity at exit: $14,895

10-year hold

• IRR: 33.5%
• Equity multiple: 4.05×
• Total profit: $85,274
• Equity at exit: $8,638

Cash invested: $27,972 (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 18951

• Active inventory: 144
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,788 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $722

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 55%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $99,900 Active 8 DOM
2. 2026-06-17
   days on market $99,900 Active 7 DOM
3. 2026-06-16
   days on market $99,900 Active 6 DOM
4. 2026-06-15
   days on market $99,900 Active 5 DOM
5. 2026-06-13
   days on market $99,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $99,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,452
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$2,906
• Taxable income: $7,520
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $6,858/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in-ready 2009 Marlette double-wide manufactured home offers a good condition with fresh paint and new flooring, making it an attractive option for both resale and rental.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace old carpet — improves comfort and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace old carpet — improves comfort and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Quakertown Community SD
• NCES district ID: 4219890
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 55% ▼ -15.00%
• Median HH income: $66,186
• Composite: 44.3/100
• National rank: #2833
• State rank: #154 of 539 in PA

Livability — Richland

• Score: 74/100
• State rank: #498
• US rank: #4585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bucks County · 506,477 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 36,568
• Household income: $98,268
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 488.0

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 6% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 5% Polish 3% Slovak 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -247.25%
• Current HPI: 283.2262
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

1 event — show timeline

• 2026-06-10 Listed $99,900 BRIGHT MLS