196 Mason St

Rockland, PA 16374

$165,000D-

3 bd · 1.0 ba · 1,324 sqft · Built 1997 · Manufactured · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,173/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $-80/mo
• Annual: $-955/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• 1% rule: 0.71%
• Cash to close: $46,200

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $165k.
• At list price, monthly cash flow is $-80 ($-955/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (28.9% below list).
• It's been on market 23 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (28.9% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cranberry Area SD (rural): math 32% / reading 52% proficiency, ranked #327 of 539 in PA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cranberry El Sch (math 29% / reading 53%, grade F, #932 of 1,518 statewide, top 62%, 606 students, 46% FRL); Cranberry Area Jshs (math 35% / reading 47%, grade F, #251 of 437 statewide, top 58%, 557 students, 41% FRL).
• Market conditions: 12 active listings in the ZIP; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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.