475-LT 12 Wabash Rd

Stevens, PA 17522

$50,000B-

2 bd · 2.0 ba · 952 sqft · Built 1994 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,295/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$49
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $712/mo
• Annual: $8,540/yr
• Cap rate: 23.37%
• Cash-on-cash: 61.00%
• DSCR: 3.71
• 1% rule: 2.59%
• Cash to close: $14,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $712 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 46/100 on livability (#1,722 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Cocalico SD (suburban): math 45% / reading 60% proficiency, ranked #130 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Reamstown El Sch (math 47% / reading 62%, grade C, #504 of 1,518 statewide, top 37%, 396 students, 43% FRL); Cocalico Ms (math 34% / reading 59%, grade D+, #172 of 512 statewide, top 35%, 682 students, 43% FRL); Cocalico Shs (math 78% / reading 24%, grade D+, #121 of 437 statewide, top 28%, 1,008 students, 38% FRL) — zoned schools average 41% FRL vs 22% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 117 active listings in the ZIP; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.