2304 Brownsville Rd Unit A-19

Trevose, PA 19053

$120,000D

2 bd · 1.0 ba · 700 sqft · Built 2008 · Manufactured · Active · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,639/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$115
• HOA: −$825
• Vac / Maint / Mgmt: −$344
• Net cashflow: $-275/mo
• Annual: $-3,299/yr
• Cap rate: 3.54%
• Cash-on-cash: -9.82%
• DSCR: 0.56
• 1% rule: 1.37%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (40.5% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 166 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $71k (40.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#221 in PA, #1,940 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities C-, commute F.
• Neshaminy SD (suburban): math 41% / reading 57% proficiency, ranked #150 of 539 in PA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Poquessing Ms (math 28% / reading 53%, grade F, #248 of 512 statewide, top 50%, 961 students, 44% FRL); Neshaminy Hs (math 76% / reading 24%, grade D+, #133 of 437 statewide, top 30%, 2,933 students, 38% FRL) — zoned schools average 41% FRL vs 19% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 50% of rent.
• Market conditions: 99 active listings in the ZIP; solid renter incomes; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the 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?
• It's been on market 166 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.