131 Sunset Dr

Gratz, PA 17048

$46,900B

3 bd · 2.0 ba · 1,056 sqft · Built 1994 · Manufactured · Pending · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,534/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$322
• Net cashflow: $887/mo
• Annual: $10,648/yr
• Cap rate: 29.00%
• Cash-on-cash: 81.08%
• DSCR: 4.61
• 1% rule: 3.27%
• Cash to close: $13,132

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $47k.
• At list price, monthly cash flow is $887 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $47k).
• It's been on market 94 days — a 9% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $43k (9.0% below list) — sets the bar for market timing.
• In year one you build about $98 of equity ($324 loan paydown + $-226 appreciation (-0.5% local appreciation)).
• Location reads 59/100 on livability (#1,535 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Upper Dauphin Area SD (rural): math 37% / reading 55% proficiency, ranked #259 of 539 in PA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $23k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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 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.