121 Grimm Ln · Highspire, PA 17057

$15,995

2 bd · 1.0 ba · 600 sqft · Manufactured public records · 8 Days on market

Built 1963 0.25 ac lot $595/mo HOA · 53% of rent ↓ 50% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living in the heart of Middletown! This 2-bedroom, 1.5-bath mobile home offers a great opportunity for buyers looking for low-cost homeownership. This home is move-in ready and provides a functional layout with comfortable living space. While in overall fair condition, it has solid potential to make it your own with a little personal touch. Located in a well maintained park, residents enjoy added convenience with lot rent that covers water, sewer and trash- helping keep monthly expenses predictable and affordable. Plus, the home is conveniently located near major routes, making commuting and travel a breeze. Whether you're a first time home buyer, downsizing or looking for an inv

Key facts

• 0.25 acre lot
• Built 1963
• Listed 8 days

Property features AI

Finance

• Other: Not located in a federal flood zone; Annual ground rent noted in income/expense listing
• Financial info: Ownership is via ground rent; Property manager present
• HOA & community: Monthly ground rent of $595 (includes water, trash, sewer)

Exterior

• Parking: Paved parking and on-street parking available
• Utilities: Public water; Public sewer; Cable internet; Hot water: Other
• Home design: Single-wide mobile home (pre-1976); Estimated year built
• Construction: Metal siding; Shingle roof; No basement
• Exterior features: Paved parking; Street parking; Shed; Ground rent applies (monthly)

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom on the main level; 1 half bathroom on the main level
• Heating & cooling: Propane heating (leased)
• Interior features: Ceiling fans; Carpeted areas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $16k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Cap rate 20.2% vs local median 4.2% in Highspire — 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 63/100 on livability (#1,272 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Middletown Area SD (suburban): math 31% / reading 45% proficiency, ranked #368 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Middletown Area Hs (math 72% / reading 10%, grade F, #251 of 437 statewide, top 58%, 747 students, 51% FRL).
• Market conditions: Rents rising (+1.6%/yr); 146 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $110 of loan paydown is wiped out by about $480 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $4k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $12k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 53% of rent.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,995

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 7.05% ✓
• Cap rate: 20.17%
• Cash-on-cash: 49.55%
• DSCR: 3.20
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 1.85×
• Total profit: $3,789
• Equity at exit: $2,385

10-year hold

• IRR: 26.8%
• Equity multiple: 2.88×
• Total profit: $8,402
• Equity at exit: $1,383

Cash invested: $4,479 (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 17057

• Home prices YoY: -23.9%
• Rents YoY: 1.6%
• Active inventory: 146
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$84
• Tax from tax record: −$20 /mo · $246/yr
• Insurance: −$7
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$595
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $118

Break-even live

Break-even rent $978

Max offer price $15,995

Occupancy floor 84%

Sensitivity live

Price	-10% $128	-5% $123	+0% $118	+5% $114	+10% $109
Rent	-10% $29	-5% $74	+0% $118	+5% $163	+10% $208
Rate	-1.0pp $127	-0.5pp $123	base $118	+0.5pp $114	+1.0pp $110

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: $3,999
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 2nd St Unit 2 Highspire, PA	1.0	1.0	525	$875	$1.67	15d	1	1.22mi

HOA detail

• Monthly dues: $595 · $7,140/yr
• Likely covers: watersewertrash

Listing history 8 events

1. 2026-05-08
   status Pending 757-char remark
2. 2026-05-01
   listed $15,995 Active 757-char remark
3. 2026-04-29
   historical $15,995 757-char remark
4. 2025-08-06
   historical
5. 2025-08-05
   price $16,900
6. 2025-08-05
   price $19,995
7. 2025-07-30
   listed $24,999 Active
8. 2025-07-29
   historical

ⓘ 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: $246 · $20/mo
• Projected year-2 tax: $249 · $21/mo
• Expected delta: +$3/yr ($0/mo · 1.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,534
• − Mortgage interest: −$896
• − Property taxes: −$246
• − Insurance: −$877
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − HOA: −$7,140
• − Depreciation: −$465
• Taxable income: $1,744
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $1,003/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: Middletown Area SD
• NCES district ID: 4215240
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $53,128
• Composite: 33.08/100
• National rank: #5567
• State rank: #368 of 539 in PA

Livability — Highspire

• Score: 63/100
• State rank: #1272
• US rank: #15383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dauphin County · 247,857 people
• City population: 2,988
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 23,560
• Household income: $73,407
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 748.0

Population outlook (Dauphin County) Hauer SSP2

• Today (2025): 281,628 people
• By 2030: 283,549 · +0.7%
• By 2040: 285,385 · +1.3%
• By 2050: 286,188 · +1.6%
• By 2075: 291,053 · +3.3%
• By 2100: 282,374 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 3% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Dauphin

• 2024 margin: Lean D (+5.9) · D 52.4% · R 46.5% · Other 1.1%
• 2008→2024 swing: -3.1pp toward R · 2008: 9.1pp · 2024: 5.9pp
• All cycles: 2024: D+5.9 2020: D+8.5 2016: D+2.8 2012: D+6.0 2008: D+9.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.17%
• Current HPI: 265.6077
• Rent YoY: ▲ 1.58%
• Metro: Harrisburg-Carlisle, 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

-50.0% since first listed

9 events — show timeline

• 2026-06-12 Sold (MLS) $12,500 BRIGHT MLS
• 2026-05-08 Pending — BRIGHT MLS
• 2026-05-01 Listed $15,995 BRIGHT MLS
• 2026-04-29 Coming Soon $15,995 BRIGHT MLS
• 2025-08-06 Listing Removed — BRIGHT MLS
• 2025-08-05 Price Changed $16,900 BRIGHT MLS
• 2025-08-05 Price Changed $19,995 BRIGHT MLS
• 2025-07-30 Listed $24,999 BRIGHT MLS
• 2025-07-29 Coming Soon — BRIGHT MLS

Property tax history

+1.5%/yr

Latest (2026): $246 · +4.7% YoY. Source: county tax records.