2581 Old Harrisburg Rd #46

Gettysburg, PA 17325

$50,000B

3 bd · 2.0 ba · 1,404 sqft · Built 2006 · Manufactured · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,481/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $795/mo
• Annual: $9,534/yr
• Cap rate: 25.36%
• Cash-on-cash: 68.10%
• DSCR: 4.03
• 1% rule: 2.96%
• Cash to close: $14,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 13 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 87/100 on livability (#45 in PA, #253 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment D.
• Gettysburg Area SD (rural): math 46% / reading 60% proficiency, ranked #132 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gettysburg Area Hs (math 80% / reading 24%, grade C-, #112 of 437 statewide, top 26%, 1,024 students, 37% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 313 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 25.4% vs local median 2.1% in Gettysburg — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.