6319 Fuller Dr

Levittown, PA 19067

$80,000B+

3 bd · 2.0 ba · 1,000 sqft · Built 1999 · Manufactured · Pending · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,023/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$635
• Net cashflow: $1,871/mo
• Annual: $22,447/yr
• Cap rate: 34.35%
• Cash-on-cash: 100.21%
• DSCR: 5.46
• 1% rule: 3.78%
• Cash to close: $22,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• It's been on market 160 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 75/100 on livability (#470 in PA, #4,342 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• Pennsbury SD (suburban): math 46% / reading 69% proficiency, ranked #67 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.1%/yr); 168 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 34.4% vs local median 3.9% in Levittown — 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.

Questions for listing agent

• It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.