96 Buttonwood Dr

Dillsburg, PA 17019

$39,700B

2 bd · 1.0 ba · 720 sqft · Built 1976 · Manufactured · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,381/mo
• Mortgage (P&I): −$208
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $792/mo
• Annual: $9,508/yr
• Cap rate: 32.25%
• Cash-on-cash: 92.71%
• DSCR: 5.13
• 1% rule: 3.48%
• Cash to close: $11,116

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $792 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 118 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $274 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#398 in PA, #3,615 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Northern York County SD (rural): math 35% / reading 57% proficiency, ranked #223 of 539 in PA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Northern El Sch (math 27% / reading 47%, grade F, #1,004 of 1,518 statewide, top 68%, 395 students, 40% FRL); Northern Ms (math 23% / reading 52%, grade F, #292 of 512 statewide, top 58%, 751 students, 26% FRL); Northern Hs (math 56%, 1,051 students, 21% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 94 active listings in the ZIP; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 2 sale attempts since 4y ago; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $40k implies a 98% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 32.3% vs local median 2.2% in Dillsburg — 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

• It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.