93 Cessna St

South Waverly, PA 18840

$93,000C+

3 bd · 2.0 ba · 1,456 sqft · Built 1995 · Manufactured · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$210
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $270/mo
• Annual: $3,235/yr
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• 1% rule: 1.32%
• Cash to close: $26,040

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $93k.
• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• It's been on market 70 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#177 in PA, #1,473 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, amenities D-, commute F.
• Athens Area SD (town): math 38% / reading 58% proficiency, ranked #227 of 539 in PA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 66 units permitted in Bradford County in 2024 (0 in 5+ unit buildings).
• Bradford County population projected at -23% 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 $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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 D-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.