1124 Atlantis Dr

Collinsburg, PA 15089

$39,900B-

4 bd · 2.0 ba · 1,568 sqft · Built 1994 · Manufactured · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,408/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$155
• HOA: −$509
• Vac / Maint / Mgmt: −$296
• Net cashflow: $240/mo
• Annual: $2,875/yr
• Cap rate: 13.50%
• Cash-on-cash: 25.73%
• DSCR: 2.14
• 1% rule: 3.53%
• Cash to close: $11,172

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 82 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#1,619 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, employment A; Watch: amenities F, commute F, health & safety F.
• Belle Vernon Area SD (suburban): math 34% / reading 56% proficiency, ranked #267 of 539 in PA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rostraver El Sch (math 37% / reading 57%, grade D-, #737 of 1,518 statewide, top 52%, 646 students, 45% FRL); Belle Vernon Area Ms (math 12% / reading 52%, grade F, #362 of 512 statewide, top 71%, 334 students, 46% FRL); Belle Vernon Area Hs (math 57%, 752 students, 36% FRL).
• Watch-outs: property tax is 4.2% of price; HOA is 36% of rent.
• Market conditions: 22 active listings in the ZIP; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.