4234 Independence Ln

Lehigh, PA 18088

$109,900D

3 bd · 2.0 ba · 1,188 sqft · Built 2001 · Manufactured · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,921/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$146
• HOA: −$800
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-5/mo
• Annual: $-65/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• 1% rule: 1.75%
• Cash to close: $30,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $-5 ($-65/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (0.9% below list).
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 120 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• 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.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Northampton Area SD (suburban): math 47% / reading 54% proficiency, ranked #153 of 539 in PA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lehigh El Sch (math 57% / reading 62%, grade B-, #377 of 1,518 statewide, top 28%, 492 students, 39% FRL); Northampton Area Ms (math 24% / reading 46%, grade F, #322 of 512 statewide, top 64%, 1,256 students, 42% FRL); Northampton Area Hs (math 60% / reading 24%, grade F, #230 of 437 statewide, top 53%, 1,862 students, 31% FRL) — zoned schools average 38% FRL vs 22% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 42% of rent.
• Market conditions: 43 active listings in the ZIP; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• 3 sale attempts since 16y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $110k implies a 120% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.