205 Greyfield Dr · Manor, PA 17603

$109,900

2 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 89 Days on market

Built 1991 $70/sqft · 17% above area Est $94k · 17% over ↓ 4% since listing

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Why this score? — see what drove the C+ 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
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

Key facts

• 2 parking spots
• Community pool
• Built 1991

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 3.3% in Manor — 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 68/100 on livability (#888 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, 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.
• Market conditions: Rents flat; 292 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• 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.

Recommended offer $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.57%
• DSCR: 2.09
• GRM: 5.4

CMA / ARV

• ARV (median comp): $94,255
• List price: $109,900
• Delta: 16.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.47% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.59×
• Total profit: $18,121
• Equity at exit: $16,386

10-year hold

• IRR: 21.9%
• Equity multiple: 2.66×
• Total profit: $51,082
• Equity at exit: $9,502

Cash invested: $30,772 (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 17603

• Rents YoY: 0.5%
• Active inventory: 292
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$576
• Tax from tax record: −$79 /mo · $950/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $630

Break-even live

Break-even rent $888

Max offer price $109,900

Occupancy floor 58%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Stone Mill Rd Lancaster, PA	1.0–3.0	1.0	1002	$1,462	$1.46	13d	1	0.08mi
1415 Spencer Ave Lancaster, PA	1.0–3.0	1.0–2.0	1181	$2,610	$2.21	13d	1	0.82mi
100 Country View Ln Millersville, PA	1.0–2.0	1.0–2.0	970	$1,838	$1.89	13d	6	1.02mi
1115 Marietta Ave Unit WH15037 Lancaster, PA	2.0	2.0	1298	$1,695	$1.31	43d	1	1.10mi
101 Roselawn Ave Lancaster, PA	3.0	2.0	1166	$1,785	$1.53	13d	1	1.10mi
27 Roselle Ave Lancaster, PA	2.0	1.0	1128	$1,575	$1.40	43d	1	1.10mi
135 Grandview Ave Lancaster, PA	3.0	2.0	1395	$3,295	$2.36	13d	1	1.17mi
1831 Hidden Ln Lancaster, PA	2.0–3.0	1.5–2.5	1182	$1,898	$1.61	13d	3	1.22mi
1633A Judie Ln Lancaster, PA	1.0–2.0	1.0–2.0	848	$1,698	$2.00	13d	13	1.30mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	13d	1	1.37mi
741 Manor St Lancaster, PA	3.0	1.0	1200	$1,695	$1.41	43d	1	1.40mi
40 Fairview Ave Lancaster, PA	3.0	1.0	1152	$1,700	$1.48	13d	1	1.41mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	43d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $109,900 Active 89 DOM
2. 2026-06-17
   days on market $109,900 Active 88 DOM
3. 2026-06-16
   days on market $109,900 Active 87 DOM
4. 2026-06-15
   days on market $109,900 Active 86 DOM
5. 2026-06-14
   days on market $109,900 Active 84 DOM
6. 2026-06-10
   days on market $109,900 Active 81 DOM
7. 2026-06-09
   days on market $109,900 Active 80 DOM
8. 2026-06-08
   days on market $109,900 Active 79 DOM
9. 2026-06-07
   days on market $109,900 Active 78 DOM
10. 2026-06-03
    days on market $109,900 Active 74 DOM
11. 2026-06-02
    days on market $109,900 Active 73 DOM
12. 2026-06-01
    days on market $109,900 Active 72 DOM
13. 2026-05-31
    days on market $109,900 Active 71 DOM
14. 2026-05-30
    days on market $109,900 Active 70 DOM
15. 2026-04-28
    price $109,900 473-char remark

    Show marketing remark (473 chars)

    Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

16. 2026-04-28
    status Active 473-char remark

    Show marketing remark (473 chars)

    Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

17. 2026-04-19
    status Pending 473-char remark

    Show marketing remark (473 chars)

    Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

18. 2026-03-13
    listed $114,900 Active 473-char remark

    Show marketing remark (473 chars)

    Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

19. 2026-03-03
    historical $114,900 473-char remark

    Show marketing remark (473 chars)

    Spacious double-wide mobile home offering 3 bedrooms and 2 full bathrooms! This well maintained home features a cozy gas fireplace in the living area, perfect for relaxing evenings. The open layout provides comfortable living space with plenty of room for family and guests. Enjoy the convenience of single-level living with generous bedroom sizes and ample storage throughout. Don’t miss this opportunity to own an affordable home with great space and functionality!

ⓘ 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: $950 · $79/mo
• Projected year-2 tax: $1,343 · $112/mo
• Expected delta: +$393/yr (+$33/mo · 41.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,222
• − Mortgage interest: −$6,156
• − Property taxes: −$950
• − Insurance: −$550
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$3,197
• Taxable income: $6,134
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $6,088/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: Penn Manor SD
• NCES district ID: 4218630
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 65% ▼ -7.00%
• Median HH income: $59,275
• Composite: 50.67/100
• National rank: #1826
• State rank: #80 of 539 in PA

Livability — Manor

• Score: 68/100
• State rank: #888
• US rank: #9450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lancaster County · 390,309 people
• City population: 1,171
• Metro: Lancaster, PA
• Population (ZIP): 67,571
• Household income: $77,084
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2557.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 561,011 people
• By 2030: 570,969 · +1.8%
• By 2040: 585,929 · +4.4%
• By 2050: 591,056 · +5.4%
• By 2075: 594,747 · +6.0%
• By 2100: 558,850 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 12% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Cuban 1% Dominican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada, China, India
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Lancaster

• 2024 margin: R (+15.9) · D 41.5% · R 57.5%
• 2008→2024 swing: -4.1pp toward R · 2008: -11.8pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.8 2016: R+19.7 2012: R+19.2 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -508.78%
• Current HPI: 289.3324
• Rent YoY: ▲ 0.47%
• Metro: Lancaster, 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

-4.4% since first listed

5 events — show timeline

• 2026-04-28 Price Changed $109,900 BRIGHT MLS
• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-19 Pending — BRIGHT MLS
• 2026-03-13 Listed $114,900 BRIGHT MLS
• 2026-03-03 Coming Soon $114,900 BRIGHT MLS

Property tax history

+0.0%/yr

Latest (2026): $950 · +4.1% YoY. Source: county tax records.