615 Morgantown Rd

South Union, PA 15401

$110,000B-

4 bd · 1.5 ba · 1,832 sqft · Built 1945 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,966/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $788/mo
• Annual: $9,459/yr
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• 1% rule: 1.79%
• Cash to close: $30,800

Investor read

• This is a 4-bed/1.5-bath manufactured listed at $110k.
• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Laurel Highlands SD (suburban): math 29% / reading 49% proficiency, ranked #372 of 539 in PA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hatfield El Sch (math 37% / reading 62%, grade D, #654 of 1,518 statewide, top 47%, 326 students, 43% FRL); Laurel Highlands Ms (math 16% / reading 44%, grade F, #380 of 512 statewide, top 74%, 632 students, 54% FRL); Laurel Highlands Shs (math 62% / reading 75%, grade B, #53 of 437 statewide, top 13%, 831 students, 31% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 27y 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 $50k; list at $110k implies a 120% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.