6 N Water St

McVeytown, PA 17051

$99,900C-

2 bd · 1.0 ba · 976 sqft · Built 1968 · Manufactured · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $894/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $59/mo
• Annual: $714/yr
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• 1% rule: 0.90%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $59 ($714/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (10.5% below list).
• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (10.5% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($691 loan paydown + $7k appreciation (6.7% local appreciation)).
• Location reads 62/100 on livability (#1,346 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, commute F, health & safety F.
• Mifflin County SD (town): math 28% / reading 49% proficiency, ranked #380 of 539 in PA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Strodes Mills El Sch (math 34% / reading 44%, grade F, #947 of 1,518 statewide, top 65%, 237 students, 60% FRL); Mifflin Co Ms (math 16% / reading 51%, grade F, #342 of 512 statewide, top 67%, 689 students, 59% FRL); Mifflin Co Hs (math 76% / reading 24%, grade D+, #133 of 437 statewide, top 30%, 1,086 students, 34% FRL).
• Market conditions: 7 active listings in the ZIP; 58 units permitted in Mifflin County in 2024 (0 in 5+ unit buildings).
• Mifflin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.