11682 Route 97 Rte N #6 · Waterford, PA 16441

$25,900

2 bd · 2.0 ba · 804 sqft · SingleFamily · 11 Days on market

Built 1986 Est $30k · 13% under $435/mo HOA · 32% of rent

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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 +15.0/30.0
• ARV discount +13.3/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 2 bedroom, 2 full bath mobile home located in the Fort LeBoeuf school district! There is an open concept feel with fresh flooring & paint througout. Additional highlights include a master suite and patio. Subject to park approval. SELLER IS WILLING TO ENTERTAIN OWNER FINANCE OPTIONS WITH A MINIMUM OF $7500 DOWN! Call today!

Key facts

• Covered deck
• Private master suite
• Open-concept layout

Tags

• PRIVATE MASTER SUITE
• COVERED DECK
• OPEN-CONCEPT LAYOUT
• MODERN VINYL FLOORING
• FORT LEBOEUF SCHOOL DISTRICT
• RAINBOW VALLEY COMMUNITY

Property features AI

Finance

• Other: Subdivision: Rainbow Valley
• HOA & community: Homeowners association; Association fee $435 monthly; Association fees include sewer, snow removal, trash, water

Exterior

• Parking: 2 parking spaces
• Utilities: Sewer included in association; Water included in association
• Home design: Single family residence; Residential property; Zoned R-1
• Construction: Metal siding; Rubber roof
• Exterior features: Shed(s); Level lot; Paved road access

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 7 total rooms (bedroom count not specified)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No cooling
• Interior features: Storage; Porch
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $26k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).

Location & tenants

• Location reads 85/100 on livability (#79 in PA, #576 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute D-.
• Fort Leboeuf SD (rural): math 52% / reading 68% proficiency, ranked #77 of 539 in PA (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $179 of loan paydown is wiped out by about $777 of value loss. Plan a longer hold.
• Erie County population projected at -14% 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago 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.
• Current owner paid $22k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $25,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 5.28% ✓
• Cap rate: 27.88%
• Cash-on-cash: 77.11%
• DSCR: 4.43
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $29,748
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11682 Route 97 N #146	0.02mi	2/1.0	924 (+15%)	8mo	$30,000	$32	63
11682 Route 97 Trl N #64	0.02mi	3/2.0 (+1)	924 (+15%)	22mo	$34,000	$37	51
11682 Route 97 Rte N	0.27mi	3/2.0 (+1)	924 (+15%)	14mo	$55,000	$60	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 77.5%
• Equity multiple: 4.55×
• Total profit: $25,770
• Equity at exit: $3,862

10-year hold

• IRR: 81.2%
• Equity multiple: 9.53×
• Total profit: $61,825
• Equity at exit: $2,239

Cash invested: $7,252 (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 16441

• Home prices YoY: -33.2%
• Active inventory: 40
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,367 medium
• Mortgage (P&I): −$136
• Tax est. 1.5%: −$32 /mo · $388/yr
• Insurance: −$11
• HOA: −$435
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $466

Break-even live

Break-even rent $777

Max offer price $25,900

Occupancy floor 61%

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: $6,475
• Closing costs: $777
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $435 · $5,220/yr

Listing history 10 events

1. 2026-06-17
   status $25,900 Pending 11 DOM
2. 2026-06-16
   days on market $25,900 Active 11 DOM
3. 2026-06-15
   days on market $25,900 Active 10 DOM
4. 2026-06-14
   days on market $25,900 Active 8 DOM
5. 2026-06-13
   days on market $25,900 Active 7 DOM
6. 2026-06-10
   days on market $25,900 Active 5 DOM
7. 2026-06-09
   days on market $25,900 Active 4 DOM
8. 2026-06-08
   days on market $25,900 Active 3 DOM
9. 2026-06-07
   remarks 620-char remark
10. 2026-06-07
    listed $25,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,405
• − Mortgage interest: −$1,451
• − Property taxes: −$388
• − Insurance: −$130
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − HOA: −$5,220
• − Depreciation: −$753
• Taxable income: $5,838
• Est. tax owed @ 24.0%: −$1,401
• After-tax cash flow: $4,191/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: Fort Leboeuf SD
• NCES district ID: 4209990
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 68% ▼ -6.00%
• Median HH income: $54,607
• Composite: 51.46/100
• National rank: #1725
• State rank: #77 of 539 in PA

Livability — Waterford

• Score: 85/100
• State rank: #79
• US rank: #576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,485

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 11% Serbian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.87%
• Current HPI: 245.5495
• Rent YoY: —
• Metro: —
• 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

+13.1% since first listed

3 events — show timeline

• 2026-06-05 Listed $25,900 GEBOR
• 2023-12-04 Sold (MLS) $22,000 GEBOR
• 2023-10-17 Listed $22,900 GEBOR