256 Hickory St · Continental Courts, PA 16823

$79,999

2 bd · 1.0 ba · 980 sqft · Manufactured public records · 1 Days on market

Built 1987

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

Listing remarks MLS

This charming 2-bedroom, 1-bathroom home features, Custom wood kitchen cabinets, Updated appliances, custom blinds, newer furnace and heat pump, Triple pane windows, Stunning 12x16 covered porch with weather resistant decking and 8x26 three season enclosed patio. Don't miss your opportunity to live in the desirable Continental Courts community in Bellefonte. 15 minutes from State College.

Key facts

• Nice sunroom
• Propane furnace
• Trane central air

Tags

• BRIGHT OPEN FLOOR PLAN
• BEAUTIFUL KITCHEN CABINETRY
• RECENTLY REMODELED BATHROOM
• PROPANE FURNACE
• TRANE CENTRAL AIR
• NICE SUNROOM

Property features AI

Finance

• Other: Property manager present; Ownership interest: Other
• HOA & community: Located in the Continental Courts park

Exterior

• Parking: Paved driveway with space for three vehicles (driveway provides 3 spaces)
• Utilities: Public water; Public sewer
• Home design: Manufactured home (single wide, Skyline); Estimated 980 sq ft finished above grade; 2025 effective year for major renovation/remodel
• Construction: Aluminum siding; Architectural shingle roof; Triple-pane windows; No basement
• Exterior features: Rented lot; Shed on property; Not in a federal flood zone; 2+ access exits (accessibility feature)

Interior

• Kitchen: Gas range/oven; Stainless steel appliances
• Bedrooms: Two main-level bedrooms
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning
• Interior features: Family room off the kitchen; Eat-in kitchen
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 14.2% vs local median 2.5% in Continental Courts — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Bellefonte Area SD (town): math 48% / reading 57% proficiency, ranked #140 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bellefonte Area Hs (math 72%, 847 students, 16% FRL).
• Market conditions: 198 active listings in the ZIP; solid renter incomes; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 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 $50k; list at $80k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $79,999

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: 1.60% ✓
• Cap rate: 14.24%
• Cash-on-cash: 28.37%
• DSCR: 2.26
• GRM: 5.2

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: 22.6%
• Equity multiple: 1.93×
• Total profit: $20,744
• Equity at exit: $11,928

10-year hold

• IRR: 30.6%
• Equity multiple: 3.74×
• Total profit: $61,401
• Equity at exit: $6,917

Cash invested: $22,400 (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 16823

• Active inventory: 198
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $530

Break-even live

Break-even rent $611

Max offer price $79,999

Occupancy floor 54%

Sensitivity live

Price	-10% $575	-5% $552	+0% $530	+5% $507	+10% $484
Rent	-10% $428	-5% $479	+0% $530	+5% $580	+10% $631
Rate	-1.0pp $570	-0.5pp $550	base $530	+0.5pp $509	+1.0pp $488

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-05
   remarks 693-char remark
2. 2026-06-05
   listed $79,999 Pending 1 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: $359 · $30/mo
• Projected year-2 tax: $812 · $68/mo
• Expected delta: +$452/yr (+$38/mo · 125.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,378
• − Mortgage interest: −$4,481
• − Property taxes: −$359
• − Insurance: −$400
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$2,327
• Taxable income: $5,350
• Est. tax owed @ 24.0%: −$1,284
• After-tax cash flow: $5,071/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: Bellefonte Area SD
• NCES district ID: 4203240
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $54,460
• Composite: 45.25/100
• National rank: #2662
• State rank: #140 of 539 in PA

Livability — Continental Courts

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Continental Courts, PA
• County: Centre County · 99,000 people
• Metro: State College, PA
• Population (ZIP): 29,126
• Household income: $76,245
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 855.0

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.54%
• Current HPI: 202.598
• Rent YoY: —
• Metro: State College, 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

+60.0% since first listed

5 events — show timeline

• 2026-06-05 Pending — BRIGHT MLS
• 2026-06-03 Listed $79,999 BRIGHT MLS
• 2025-05-19 Sold (MLS) $49,999 BRIGHT MLS
• 2025-04-28 Pending — BRIGHT MLS
• 2025-04-28 Listed $49,999 BRIGHT MLS

Property tax history

+1.2%/yr

Latest (2026): $359 · +2.1% YoY. Source: county tax records.