156 Vaux Dr · New Britain, PA 18901

$200,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 35 Days on market

Built 1994 4,791 sqft lot $128/sqft · 8% above area Est $185k · 8% over

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +5.8/10.0
• ARV discount +3.8/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a 3 bedroom, 2 full bath home look no more. Large open living room with built-in wall unit, vaulted ceiling and sliding doors leading to screened in porch. The kitchen has plenty of cabinet space with a pantry and breakfast bar and pantry. Master bedroom has vaulted ceiling, walk-in closet and full master bathroom. 2 additional bedrooms with double closets and ceiling fans. Laundry/mud room with stack-able washer and dryer. A shed for storage in located in the back of the home. The home is in need of TLC and a new heating system. Buyers are welcomed to do home inspections but no repairs will be done.

Key facts

• Shed with electric
• Double sink
• Train station

Tags

• CENTRAL BUCKS SCHOOL DISTRICT
• WALK IN CLOSET
• DOUBLE SINK
• SHED WITH ELECTRIC
• TRAIN STATION

Property features AI

Finance

• Other: Property manager present; 2+ access exits (accessibility feature)
• Financial info: Monthly land lease: $1,058; 126 years of land lease remaining; Annual ground rent listed in income/expense
• HOA & community: Association fee covers common area maintenance, snow removal, trash, water and sewer; Other monthly fee: $1,053

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured / modular property; Land lease ownership; Ground rent exists
• Construction: Manufactured construction; Estimated year built
• Exterior features: Corner lot; Porch(es); Shed; Above-grade and below-grade structures

Interior

• Kitchen: Butler's pantry; Breakfast area
• Bedrooms: 3 bedrooms on main level
• Bathrooms: 2 full bathrooms (total); 2 full bathrooms on main level
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning; Electric cooling; Electric hot water
• Interior features: Master bath(s); Butler's pantry; Breakfast area; Drywall walls and ceilings; No basement
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 2.8% in New Britain — 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 73/100 on livability (#568 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute 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: Rents rising (+1.9%/yr); 116 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 + 1.9% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $200k implies a 770% gain — meaningful room to come down on a strong offer.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.44% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $184,789
• List price: $200,000
• Delta: 8.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.88% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.37×
• Total profit: $20,868
• Equity at exit: $29,821

10-year hold

• IRR: 17.8%
• Equity multiple: 2.40×
• Total profit: $78,177
• Equity at exit: $17,292

Cash invested: $56,000 (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 18901

• Rents YoY: 1.9%
• Active inventory: 116
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,871 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $886

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,024	-5% $955	+0% $886	+5% $817	+10% $748
Rent	-10% $659	-5% $773	+0% $886	+5% $999	+10% $1,113
Rate	-1.0pp $987	-0.5pp $937	base $886	+0.5pp $834	+1.0pp $782

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Commons Way Doylestown, PA	1.0–2.0	1.0–2.0	941	$2,550	$2.71	0d	1	0.30mi
170 Iron Hill Rd Doylestown, PA	3.0	2.0	1744	$3,000	$1.72	12d	1	0.32mi
409 E Butler Ave Doylestown, PA	2.0	1.0–2.0	871	$3,410	$3.91	0d	19	0.49mi
59 Providence Ave Doylestown, PA	3.0	2.5	1440	$2,400	$1.67	25d	1	0.81mi
47 Carriage Dr Doylestown, PA	3.0	2.5	1440	$2,599	$1.80	44d	1	0.85mi
3 Aspen Way #34 Doylestown, PA	2.0	1.0	1137	$2,200	$1.93	44d	1	0.87mi
63 Constitution Ave Doylestown, PA	3.0	2.5	1440	$2,450	$1.70	12d	1	0.92mi
7 Constitution Ave Doylestown, PA	3.0	2.5	1440	$2,800	$1.94	0d	1	0.93mi
303 W State St Doylestown, PA	1.0–3.0	1.0–2.0	954	$2,915	$3.06	44d	1	0.94mi
333 N Broad St Doylestown, PA	1.0–2.0	1.0–2.0	1024	$4,125	$4.03	0d	20	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $200,000 Active 35 DOM
2. 2026-06-18
   days on market $200,000 Active 32 DOM
3. 2026-06-17
   days on market $200,000 Active 31 DOM
4. 2026-06-16
   days on market $200,000 Active 30 DOM
5. 2026-06-15
   status $200,000 Active 29 DOM
6. 2026-06-10
   status $200,000 Pending 29 DOM
7. 2026-06-09
   days on market $200,000 Active 29 DOM
8. 2026-06-08
   days on market $200,000 Active 28 DOM
9. 2026-06-07
   days on market $200,000 Active 27 DOM
10. 2026-06-04
    pricedays on market $200,000 Active 24 DOM
11. 2026-06-03
    days on market $220,000 Active 23 DOM
12. 2026-06-02
    days on market $220,000 Active 22 DOM
13. 2026-06-01
    days on market $220,000 Active 21 DOM
14. 2026-05-31
    days on market $220,000 Active 20 DOM
15. 2026-05-11
    listed $225,000 Active 518-char remark
16. 2025-02-16
    historical
17. 2025-02-13
    listed $190,000 Active
18. 2016-12-16
    soldstatus $23,000 Sold

    Show marketing remark (619 chars)

    Looking for a 3 bedroom, 2 full bath home look no more. Large open living room with built-in wall unit, vaulted ceiling and sliding doors leading to screened in porch. The kitchen has plenty of cabinet space with a pantry and breakfast bar and pantry. Master bedroom has vaulted ceiling, walk-in closet and full master bathroom. 2 additional bedrooms with double closets and ceiling fans. Laundry/mud room with stack-able washer and dryer. A shed for storage in located in the back of the home. The home is in need of TLC and a new heating system. Buyers are welcomed to do home inspections but no repairs will be done.

19. 2016-12-16
    soldstatus $23,000

    Show marketing remark (619 chars)

    Looking for a 3 bedroom, 2 full bath home look no more. Large open living room with built-in wall unit, vaulted ceiling and sliding doors leading to screened in porch. The kitchen has plenty of cabinet space with a pantry and breakfast bar and pantry. Master bedroom has vaulted ceiling, walk-in closet and full master bathroom. 2 additional bedrooms with double closets and ceiling fans. Laundry/mud room with stack-able washer and dryer. A shed for storage in located in the back of the home. The home is in need of TLC and a new heating system. Buyers are welcomed to do home inspections but no repairs will be done.

20. 2016-11-22
    status Under Contract
21. 2016-11-01
    listed $49,000 Active

    Show marketing remark (619 chars)

    Looking for a 3 bedroom, 2 full bath home look no more. Large open living room with built-in wall unit, vaulted ceiling and sliding doors leading to screened in porch. The kitchen has plenty of cabinet space with a pantry and breakfast bar and pantry. Master bedroom has vaulted ceiling, walk-in closet and full master bathroom. 2 additional bedrooms with double closets and ceiling fans. Laundry/mud room with stack-able washer and dryer. A shed for storage in located in the back of the home. The home is in need of TLC and a new heating system. Buyers are welcomed to do home inspections but no repairs will be done.

22. 2016-11-01
    listed $49,000

    Show marketing remark (619 chars)

    Looking for a 3 bedroom, 2 full bath home look no more. Large open living room with built-in wall unit, vaulted ceiling and sliding doors leading to screened in porch. The kitchen has plenty of cabinet space with a pantry and breakfast bar and pantry. Master bedroom has vaulted ceiling, walk-in closet and full master bathroom. 2 additional bedrooms with double closets and ceiling fans. Laundry/mud room with stack-able washer and dryer. A shed for storage in located in the back of the home. The home is in need of TLC and a new heating system. Buyers are welcomed to do home inspections but no repairs will be done.

23. 2014-07-25
    historical
24. 2013-07-26
    listed $65,900
25. 2006-04-30
    soldstatus $105,000
26. 2006-03-10
    historical
27. 2005-06-19
    listed $105,000

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

Taxation est. · year 1

• Rental income: $34,454
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,756
• − Management: −$2,756
• − Depreciation: −$5,818
• Taxable income: $7,920
• Est. tax owed @ 24.0%: −$1,901
• After-tax cash flow: $8,732/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 — New Britain

• Score: 73/100
• State rank: #568
• US rank: #5342

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, PA
• County: Bucks County · 506,477 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 28,509
• Household income: $118,256
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1032.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 5% Italian 4% Slovak 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 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: ▼ -313.87%
• Current HPI: 296.1029
• Rent YoY: ▲ 1.88%
• 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

+90.5% since first listed

17 events — show timeline

• 2026-06-15 Relisted — BRIGHT MLS
• 2026-06-09 Pending — BRIGHT MLS
• 2026-06-03 Price Changed $200,000 BRIGHT MLS
• 2026-05-26 Price Changed $220,000 BRIGHT MLS
• 2026-05-11 Listed $225,000 BRIGHT MLS
• 2025-02-16 Listing Removed — BRIGHT MLS
• 2025-02-13 Listed $190,000 BRIGHT MLS
• 2016-12-16 Sold (MLS) $23,000 TREND
• 2016-12-16 Sold (MLS) $23,000 BRIGHT MLS
• 2016-11-22 Pending — TREND
• 2016-11-01 Listed $49,000 TREND
• 2016-11-01 Listed $49,000 BRIGHT MLS
• 2014-07-25 Listing Removed — BRIGHT MLS
• 2013-07-26 Listed $65,900 BRIGHT MLS
• 2006-04-30 Sold (MLS) $105,000 BRIGHT MLS
• 2006-03-10 Listing Removed — BRIGHT MLS
• 2005-06-19 Listed $105,000 BRIGHT MLS