500 Caravelle Ln · Exeter, PA 19606

$142,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 8 Days on market

Built 2001

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional 3 Br, 2 full bath on premium corner lot in Lincolnwood. With over 1500 sq ft - you have plenty of room to gather and spread out. A welcoming front porch which enters into a spacious vaulted living and dining room area with a wall of natural light. Then. .. enter your fantastic kitchen with loads of cabinetry, countertop and pantry space. Down the hall you have a full, common area bath. The primary suite has a walk in closet, soaking tub, walk in shower and loads of storage. The two addl bedrooms have nice closets as well. The laundry area too has addl storage and direct access to the covered rear porch. Storage is the common theme, throughout. Adorable and affordable in Exeter.

Key facts

• Premium corner lot
• Loads of cabinetry
• Soaking tub

Tags

• PREMIUM CORNER LOT
• WELCOMING FRONT PORCH
• LOADS OF CABINETRY
• PANTRY SPACE
• WALK IN CLOSET
• SOAKING TUB

Property features AI

Finance

• Other: Ownership type: Land lease
• HOA & community: Land lease of $705 per month with approximately 100 years remaining; Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water (also listed as community); Public sewer; Cable TV available; Sewer available; Water available
• Home design: Manufactured double-wide home; Excellent condition
• Construction: Vinyl siding and aluminum siding; Architectural shingle roof; Structure type: Manufactured; Above-grade finished living area recorded
• Exterior features: Not in a federal flood zone; Ground rent exists (paid annually); Park: Lincolnwood; Directions available

Interior

• Kitchen: Pantry
• Bedrooms: Three bedrooms on the main level; Rooms include: Living Room, Dining Room, Master Bedroom, Bedroom 2, Bedroom 3, Kitchen
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (oil); Central air conditioning (electric); Electric hot water
• Interior features: Soaking tub; Built-ins; Ceiling fan(s); Combination dining and living area; Pantry; Solar tube(s); Walk-in closet(s)
• Laundry & utility: Laundry located on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $143k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Cap rate 11.0% vs local median 4.1% in Exeter — 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.

Location & tenants

• Location reads 76/100 on livability (#392 in PA, #3,546 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools C-, amenities F, commute F.
• Exeter Township SD (suburban): math 41% / reading 60% proficiency, ranked #141 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $988 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~8 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: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,900

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. 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.
3. 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.
4. 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: 1.43% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $12,548
• Equity at exit: $21,307

10-year hold

• IRR: 17.3%
• Equity multiple: 2.43×
• Total profit: $57,101
• Equity at exit: $12,355

Cash invested: $40,012 (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 19606

• Active inventory: 166
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,044 medium
• Mortgage (P&I): −$749
• Tax from tax record: −$246 /mo · $2,954/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $559

Break-even live

Break-even rent $1,336

Max offer price $142,900

Occupancy floor 68%

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: $35,725
• Closing costs: $4,287
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Wessex Ct Unit 97 Reading, PA	3.0	3.0	1473	$2,200	$1.49	44d	1	1.33mi

Listing history 7 events

1. 2026-06-18
   days on market $142,900 Active 8 DOM
2. 2026-06-17
   days on market $142,900 Active 7 DOM
3. 2026-06-16
   days on market $142,900 Active 6 DOM
4. 2026-06-15
   days on market $142,900 Active 5 DOM
5. 2026-06-14
   days on market $142,900 Active 3 DOM
6. 2026-06-13
   remarks 698-char remark
7. 2026-06-13
   listed $142,900 Active 2 DOM

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,954 · $246/mo
• Projected year-2 tax: $2,954 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,524
• − Mortgage interest: −$8,005
• − Property taxes: −$2,954
• − Insurance: −$714
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$4,157
• Taxable income: $4,770
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $5,568/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.

Schools (NCES district)

• District: Exeter Township SD
• NCES district ID: 4209480
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 60% ▼ -11.00%
• Median HH income: $71,744
• Composite: 45.21/100
• National rank: #2669
• State rank: #141 of 539 in PA

Livability — Exeter

• Score: 76/100
• State rank: #392
• US rank: #3546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorane, PA
• County: Berks County · 195,629 people
• Metro: Reading, PA
• Population (ZIP): 35,853
• Household income: $85,557
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 619.0

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 3%
• Common ancestry: Romanian 7% Polish 2% Iranian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.56%
• Current HPI: 283.6138
• Rent YoY: —
• Metro: Reading, PA
• 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 $142,900 BRIGHT MLS

Property tax history

+1.5%/yr

Latest (2026): $2,954 · +0.5% YoY. Source: county tax records.