148 Troy Cir

Greensburg, PA 15601

$70,000B

3 bd · 2.0 ba · 1,120 sqft · Built 2000 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,406/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $588/mo
• Annual: $7,055/yr
• Cap rate: 16.37%
• Cash-on-cash: 35.99%
• DSCR: 2.60
• 1% rule: 2.01%
• Cash to close: $19,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#584 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: employment D+, health & safety D+, commute F.
• Hempfield Area SD (suburban): math 50% / reading 64% proficiency, ranked #90 of 539 in PA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.0%/yr); 296 active listings in the ZIP; solid renter incomes; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $15k; list at $70k implies a 367% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 16.4% vs local median 2.4% in Greensburg — 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.