186 Hampton Ave

Enlow, PA 15126

$54,500D+

3 bd · 2.0 ba · 924 sqft · Built 2021 · Manufactured · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,296/mo
• Mortgage (P&I): −$286
• Tax + insurance: −$87
• HOA: −$668
• Vac / Maint / Mgmt: −$272
• Net cashflow: $-17/mo
• Annual: $-200/yr
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• 1% rule: 2.38%
• Cash to close: $15,260

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $54k. Condition is rated good.
• At list price, monthly cash flow is $-17 ($-200/yr) — negative.
• To cash-flow at today's rent, offer at most $52k (5.4% below list).
• Meets the 1% rule at list price ($1k rent vs $54k).
• It's been on market 97 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $377 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#1,199 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• West Allegheny SD (suburban): math 64% / reading 77% proficiency, ranked #22 of 539 in PA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 52% of rent.
• Market conditions: 57 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 2y ago; this cycle's ask has dropped $7k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 5.9% vs local median 3.0% in Enlow — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.