12 Glen Rock Rd

Pittston, PA 18640

$49,900C+

2 bd · 1.0 ba · 728 sqft · Built 1985 · Manufactured · Pending · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $954/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $391/mo
• Annual: $4,691/yr
• Cap rate: 17.29%
• Cash-on-cash: 39.28%
• DSCR: 2.75
• 1% rule: 1.91%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $50k).
• It's been on market 87 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#493 in PA, #4,549 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittston Area SD (suburban): math 30% / reading 40% proficiency, ranked #418 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pittston City Intrmd Ctr (math 25% / reading 44%, grade F, #1,049 of 1,518 statewide, top 71%, 648 students, 63% FRL); Pittston Area Ms (math 6% / reading 36%, grade F, #432 of 512 statewide, top 85%, 964 students, 55% FRL); Pittston Area Shs (math 77% / reading 50%, grade B-, #69 of 437 statewide, top 16%, 1,022 students, 44% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 107 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.3% vs local median 6.5% in Pittston — 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 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• 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.