None

Conewago, PA 17022

$33,000D

3 bd · 1.0 ba · 924 sqft · Built 1983 · Manufactured · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,649/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $1,097/mo
• Annual: $13,160/yr
• Cap rate: 46.17%
• Cash-on-cash: 142.42%
• DSCR: 7.34
• 1% rule: 5.00%
• Cash to close: $9,240

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $33k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $33k).
• It's been on market 88 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lower Dauphin SD (suburban): math 45% / reading 59% proficiency, ranked #130 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.5%/yr); 202 active listings in the ZIP; solid renter incomes; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $9k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $9k cash investment doubles in ~1 year — 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

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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.