S761 Hummingbird Dr

Covington, PA 18424

$59,999B+

2 bd · 1.0 ba · 751 sqft · Built — · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,340/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$163
• Vac / Maint / Mgmt: −$282
• Net cashflow: $481/mo
• Annual: $5,776/yr
• Cap rate: 15.92%
• Cash-on-cash: 34.38%
• DSCR: 2.53
• 1% rule: 2.23%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $60k. Condition is rated fair.
• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 31 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 $5k of equity ($415 loan paydown + $5k appreciation (8.4% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• North Pocono SD (rural): math 45% / reading 71% proficiency, ranked #82 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 299 active listings in the ZIP; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).
• Lackawanna County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof shingles — visible wear
• Major: exterior siding — gray siding with discoloration
• Major: interior walls — wood paneling with discoloration
• Minor: HVAC units — standard units