22 Wisteria Ct · Richboro, PA 18938

$275,000

2 bd · 2.0 ba · 1,560 sqft · Manufactured · 160 Days on market

Built 1992 5,227 sqft lot $176/sqft · at area comps Est $265k · at est.

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +6.9/10.0
• ARV discount +5.9/15.0
• Schools +5.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the vibrant 55+ community of Villages of Buckingham Springs! This well-maintained Gwynedd model offers comfort, convenience, and great potential to make it your own. A ramp leads you to a spacious covered front porch—an ideal spot to relax and enjoy the peaceful surroundings. Inside, you’re greeted by a generous formal living room with easy access to the hallway, a second bedroom, and a full hall bathroom located at the front of the home. Continuing through, you’ll find a conveniently located laundry room with access to the side deck and a nearby storage shed. The main living area features an inviting kitchen with a breakfast bar, seamlessly flowing into the formal dining room and cozy family room—perfect for everyday living and entertaining. Just off the dining room is the primary suite, complete with dual closets and a private en-suite bathroom featuring a soaking tub, separate shower, and a large double vanity. Engineered wood flooring extends throughout most of the home, adding warmth and style. Major updates include a newer HVAC system and hot water heater (2019), as well as a roof replacement in 2017. This home presents a fantastic and affordable opportunity to downsize while adding your personal touch. Seller is motivated to get this home SOLD

Key facts

• Large double vanity
• Laundry room access
• Soaking tub

Tags

• LAUNDRY ROOM ACCESS
• BREAKFAST BAR
• PRIVATE EN-SUITE BATH
• SOAKING TUB
• SEPARATE SHOWER STALL
• LARGE DOUBLE VANITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $275k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.6% in Richboro — 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.

Location & tenants

• Location reads 75/100 on livability (#459 in PA, #4,183 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Central Bucks SD (suburban): math 55% / reading 71% proficiency, ranked #37 of 539 in PA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 126 active listings in the ZIP; high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $275k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.89%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

• ARV (median comp): $265,457
• List price: $275,000
• Delta: 3.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $8,082
• Equity at exit: $41,003

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $74,737
• Equity at exit: $23,777

Cash invested: $77,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18938

• Home prices YoY: -31.6%
• Active inventory: 126
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,285 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$211 /mo · $2,533/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $827

Break-even live

Break-even rent $2,238

Max offer price $275,000

Occupancy floor 70%

Sensitivity live

Price	-10% $983	-5% $905	+0% $827	+5% $749	+10% $671
Rent	-10% $568	-5% $697	+0% $827	+5% $957	+10% $1,087
Rate	-1.0pp $966	-0.5pp $897	base $827	+0.5pp $756	+1.0pp $683

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $275,000 Active 160 DOM
2. 2026-06-18
   days on market $275,000 Active 157 DOM
3. 2026-06-17
   price $275,000 Active 156 DOM
4. 2026-06-17
   days on market $290,000 Active 156 DOM
5. 2026-06-16
   days on market $290,000 Active 155 DOM
6. 2026-06-15
   days on market $290,000 Active 154 DOM
7. 2026-06-13
   days on market $290,000 Active 152 DOM
8. 2026-06-09
   days on market $290,000 Active 148 DOM
9. 2026-06-08
   days on market $290,000 Active 147 DOM
10. 2026-06-07
    days on market $290,000 Active 146 DOM
11. 2026-06-04
    days on market $290,000 Active 143 DOM
12. 2026-06-03
    days on market $290,000 Active 142 DOM
13. 2026-06-02
    days on market $290,000 Active 141 DOM
14. 2026-06-01
    days on market $290,000 Active 140 DOM
15. 2026-05-31
    days on market $290,000 Active 139 DOM
16. 2026-04-15
    price $290,000 1305-char remark

    Show marketing remark (1305 chars)

    Welcome to the vibrant 55+ community of Villages of Buckingham Springs! This well-maintained Gwynedd model offers comfort, convenience, and great potential to make it your own. A ramp leads you to a spacious covered front porch—an ideal spot to relax and enjoy the peaceful surroundings. Inside, you’re greeted by a generous formal living room with easy access to the hallway, a second bedroom, and a full hall bathroom located at the front of the home. Continuing through, you’ll find a conveniently located laundry room with access to the side deck and a nearby storage shed. The main living area features an inviting kitchen with a breakfast bar, seamlessly flowing into the formal dining room and cozy family room—perfect for everyday living and entertaining. Just off the dining room is the primary suite, complete with dual closets and a private en-suite bathroom featuring a soaking tub, separate shower, and a large double vanity. Engineered wood flooring extends throughout most of the home, adding warmth and style. Major updates include a newer HVAC system and hot water heater (2019), as well as a roof replacement in 2017. This home presents a fantastic and affordable opportunity to downsize while adding your personal touch. Seller is motivated to get this home SOLD

17. 2026-04-14
    price $295,000 1305-char remark

    Show marketing remark (1305 chars)

    Welcome to the vibrant 55+ community of Villages of Buckingham Springs! This well-maintained Gwynedd model offers comfort, convenience, and great potential to make it your own. A ramp leads you to a spacious covered front porch—an ideal spot to relax and enjoy the peaceful surroundings. Inside, you’re greeted by a generous formal living room with easy access to the hallway, a second bedroom, and a full hall bathroom located at the front of the home. Continuing through, you’ll find a conveniently located laundry room with access to the side deck and a nearby storage shed. The main living area features an inviting kitchen with a breakfast bar, seamlessly flowing into the formal dining room and cozy family room—perfect for everyday living and entertaining. Just off the dining room is the primary suite, complete with dual closets and a private en-suite bathroom featuring a soaking tub, separate shower, and a large double vanity. Engineered wood flooring extends throughout most of the home, adding warmth and style. Major updates include a newer HVAC system and hot water heater (2019), as well as a roof replacement in 2017. This home presents a fantastic and affordable opportunity to downsize while adding your personal touch. Seller is motivated to get this home SOLD

18. 2026-01-12
    listed $300,000 Active 1305-char remark

    Show marketing remark (1305 chars)

    Welcome to the vibrant 55+ community of Villages of Buckingham Springs! This well-maintained Gwynedd model offers comfort, convenience, and great potential to make it your own. A ramp leads you to a spacious covered front porch—an ideal spot to relax and enjoy the peaceful surroundings. Inside, you’re greeted by a generous formal living room with easy access to the hallway, a second bedroom, and a full hall bathroom located at the front of the home. Continuing through, you’ll find a conveniently located laundry room with access to the side deck and a nearby storage shed. The main living area features an inviting kitchen with a breakfast bar, seamlessly flowing into the formal dining room and cozy family room—perfect for everyday living and entertaining. Just off the dining room is the primary suite, complete with dual closets and a private en-suite bathroom featuring a soaking tub, separate shower, and a large double vanity. Engineered wood flooring extends throughout most of the home, adding warmth and style. Major updates include a newer HVAC system and hot water heater (2019), as well as a roof replacement in 2017. This home presents a fantastic and affordable opportunity to downsize while adding your personal touch. Seller is motivated to get this home SOLD

19. 2011-11-17
    soldstatus $97,000 759-char remark

    Show marketing remark (759 chars)

    Discounted just in time for the spring market. Bring your suitcase and move into this charming home nestled along a pine tree buffer with a side deck and front covered porch. The large living room leads you into a nice kitchen featuring oak cabinets, a pantry and breakfast bar. The dining room has a built-in china closet and oak wainscoting with french doors leading into a six window sunroom with two skylights and a ceiling fan. Master bedroom has an adjacent large bath w/soaking tub and separate shower. Other upgrades are newer water heater, digital thermostat, Aprilaire humidifier, new hi-rise commode in bath #1, 3 smoke alarms, brass interior door levers. This home is newly painted and includes all GE Appliances. Seller very motivated.....

20. 2011-11-17
    soldstatus $97,000

    Show marketing remark (759 chars)

    Discounted just in time for the spring market. Bring your suitcase and move into this charming home nestled along a pine tree buffer with a side deck and front covered porch. The large living room leads you into a nice kitchen featuring oak cabinets, a pantry and breakfast bar. The dining room has a built-in china closet and oak wainscoting with french doors leading into a six window sunroom with two skylights and a ceiling fan. Master bedroom has an adjacent large bath w/soaking tub and separate shower. Other upgrades are newer water heater, digital thermostat, Aprilaire humidifier, new hi-rise commode in bath #1, 3 smoke alarms, brass interior door levers. This home is newly painted and includes all GE Appliances. Seller very motivated.....

21. 2011-09-19
    historical
22. 2011-03-17
    listed $99,900 759-char remark

    Show marketing remark (759 chars)

    Discounted just in time for the spring market. Bring your suitcase and move into this charming home nestled along a pine tree buffer with a side deck and front covered porch. The large living room leads you into a nice kitchen featuring oak cabinets, a pantry and breakfast bar. The dining room has a built-in china closet and oak wainscoting with french doors leading into a six window sunroom with two skylights and a ceiling fan. Master bedroom has an adjacent large bath w/soaking tub and separate shower. Other upgrades are newer water heater, digital thermostat, Aprilaire humidifier, new hi-rise commode in bath #1, 3 smoke alarms, brass interior door levers. This home is newly painted and includes all GE Appliances. Seller very motivated.....

23. 2011-03-17
    listed $99,900

    Show marketing remark (759 chars)

    Discounted just in time for the spring market. Bring your suitcase and move into this charming home nestled along a pine tree buffer with a side deck and front covered porch. The large living room leads you into a nice kitchen featuring oak cabinets, a pantry and breakfast bar. The dining room has a built-in china closet and oak wainscoting with french doors leading into a six window sunroom with two skylights and a ceiling fan. Master bedroom has an adjacent large bath w/soaking tub and separate shower. Other upgrades are newer water heater, digital thermostat, Aprilaire humidifier, new hi-rise commode in bath #1, 3 smoke alarms, brass interior door levers. This home is newly painted and includes all GE Appliances. Seller very motivated.....

24. 2010-12-31
    historical
25. 2010-03-11
    listed $109,900
26. 2009-12-15
    historical
27. 2009-06-23
    listed $134,900
28. 2009-05-20
    historical
29. 2008-11-20
    listed $189,900
30. 2008-10-28
    historical
31. 2008-06-28
    listed $200,000
32. 2008-01-24
    historical
33. 2007-12-22
    listed $210,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,533 · $211/mo
• Projected year-2 tax: $3,439 · $287/mo
• Expected delta: +$906/yr (+$75/mo · 35.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,416
• − Mortgage interest: −$15,404
• − Property taxes: −$2,533
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,153
• − Management: −$3,153
• − Depreciation: −$8,000
• Taxable income: $5,797
• Est. tax owed @ 24.0%: −$1,391
• After-tax cash flow: $8,533/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Central Bucks SD
• NCES district ID: 4205310
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 71% ▼ -12.00%
• Median HH income: $97,513
• Composite: 58.05/100
• National rank: #1032
• State rank: #37 of 539 in PA

Livability — Richboro

• Score: 75/100
• State rank: #459
• US rank: #4183

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bucks County · 506,477 people
• City population: 10,864
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,649
• Household income: $184,833
• Rent vs Own: 11.0% rent · 89.0% own
• Severe rent burden: 212.0

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 6% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Italian 4% Scotch-Irish 3%
• Foreign-born: 10% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.64%
• Current HPI: 289.3189
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+37.8% since first listed

18 events — show timeline

• 2026-04-15 Price Changed $290,000 BRIGHT MLS
• 2026-04-14 Price Changed $295,000 BRIGHT MLS
• 2026-01-12 Listed $300,000 BRIGHT MLS
• 2011-11-17 Sold (MLS) $97,000 BRIGHT MLS
• 2011-11-17 Sold (MLS) $97,000 TREND
• 2011-09-19 Listing Removed — BRIGHT MLS
• 2011-03-17 Listed $99,900 BRIGHT MLS
• 2011-03-17 Listed $99,900 TREND
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2010-03-11 Listed $109,900 BRIGHT MLS
• 2009-12-15 Listing Removed — BRIGHT MLS
• 2009-06-23 Listed $134,900 BRIGHT MLS
• 2009-05-20 Listing Removed — BRIGHT MLS
• 2008-11-20 Listed $189,900 BRIGHT MLS
• 2008-10-28 Listing Removed — BRIGHT MLS
• 2008-06-28 Listed $200,000 BRIGHT MLS
• 2008-01-24 Listing Removed — BRIGHT MLS
• 2007-12-22 Listed $210,500 BRIGHT MLS

Property tax history

+1.3%/yr

Latest (2026): $2,533 · +6.1% YoY. Source: county tax records.