273 Odonnal Rd

Springfield, PA 15464

$59,900B+

1 bd · 1.5 ba · 920 sqft · Built 1985 · Manufactured · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $888/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$186
• Net cashflow: $290/mo
• Annual: $3,485/yr
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• 1% rule: 1.48%
• Cash to close: $16,772

Investor read

• This is a 1-bed/1.5-bath manufactured listed at $60k.
• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $60k).
• It's been on market 35 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($414 loan paydown + $4k appreciation (5.9% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Connellsville Area SD (rural): math 23% / reading 39% proficiency, ranked #440 of 539 in PA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.