173 Grasso Ln

Pine, PA 17776

$195,000F

2 bd · 1.5 ba · 1,606 sqft · Built 1977 · Manufactured · Active · 117 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,086/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$246
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-411/mo
• Annual: $-4,937/yr
• Cap rate: 4.10%
• Cash-on-cash: -7.82%
• DSCR: 0.65
• 1% rule: 0.56%
• Cash to close: $54,600

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $195k.
• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (37.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (44.3% below list).
• It's been on market 117 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (44.3% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $9k appreciation (4.7% local appreciation)).
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Wellsboro Area SD (rural): math 37% / reading 58% proficiency, ranked #230 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Don Gill El Sch (math 33% / reading 51%, grade F, #883 of 1,518 statewide, top 61%, 318 students, 55% FRL); Rock L Butler Ms (math 32% / reading 61%, grade D+, #172 of 512 statewide, top 35%, 480 students, 50% FRL); Wellsboro Area Hs (math 77%, 439 students, 45% FRL) — zoned schools average 50% FRL vs 31% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 5 active listings in the ZIP; 73 units permitted in Lycoming County in 2024 (15 in 5+ unit buildings).
• Lycoming County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $195k implies a 70% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — 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 117 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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.
• 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.