54 Penn Dr

Conestoga, PA 17516

$60,000B

3 bd · 2.0 ba · 980 sqft · Built 1990 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,441/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$303
• Net cashflow: $781/mo
• Annual: $9,367/yr
• Cap rate: 21.91%
• Cash-on-cash: 55.76%
• DSCR: 3.48
• 1% rule: 2.40%
• Cash to close: $16,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#721 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Penn Manor SD (suburban): math 52% / reading 65% proficiency, ranked #80 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Conestoga El Sch (math 52% / reading 72%, grade B, #313 of 1,518 statewide, top 24%, 318 students, 45% FRL); Marticville Ms (math 40% / reading 66%, grade C+, #90 of 512 statewide, top 19%, 382 students, 47% FRL); Penn Manor Hs (math 82% / reading 30%, grade C, #90 of 437 statewide, top 21%, 1,783 students, 43% FRL) — zoned schools average 45% FRL vs 27% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 active listings in the ZIP; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.