4 Kansas Rd

Spring, PA 17040

$149,000D

3 bd · 2.0 ba · 1,104 sqft · Built 1986 · Manufactured · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,131/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $-100/mo
• Annual: $-1,201/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• 1% rule: 0.76%
• Cash to close: $41,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $149k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (24.1% below list).
• It's been on market 28 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (24.1% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• West Perry SD (rural): math 37% / reading 60% proficiency, ranked #189 of 539 in PA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Perry Shs (math 72% / reading 87%, grade A-, #19 of 437 statewide, top 4%, 686 students, 38% FRL).
• Zoned-school proficiency averages 80% at this address vs 48% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the West Perry SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 13 active listings in the ZIP; 107 units permitted in Perry County in 2024 (0 in 5+ unit buildings).
• Perry County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 21y 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 $80k; list at $149k implies a 86% gain — meaningful room to come down on a strong offer.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.