10 Coventry Pl · Souderton, PA 18964

$225,000

2 bd · 2.0 ba · 1,304 sqft · Manufactured public records · 24 Days on market

Built 1990 Est $228k · at est.

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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 +19.8/30.0
• ARV discount +8.1/15.0
• DSCR +6.3/10.0
• Schools +5.4/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Housing For Older Persons As Specified In Title 8

Key facts

• Built 1990
• Listed 23 days

Property features AI

Finance

• HOA & community: Ground rent payable monthly ($600/month); Senior community with 55+ age requirement

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Detached structure; Year built per assessor
• Construction: Vinyl siding; Slab foundation
• Exterior features: Detached property; No basement; Above-grade and below-grade structures noted

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Two or more access exits

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (4.0% below list).
• Recommended offer: $216k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 2.1% in Souderton — 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 80/100 on livability (#203 in PA, #1,787 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: commute F.
• Souderton Area SD (suburban): math 53% / reading 67% proficiency, ranked #59 of 539 in PA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: West Broad Street El Sch (math 62% / reading 72%, grade B+, #202 of 1,518 statewide, top 15%, 376 students, 38% FRL); Indian Crest Ms (math 30% / reading 58%, grade D, #202 of 512 statewide, top 40%, 678 students, 35% FRL); Souderton Area Shs (math 75% / reading 10%, grade F, #226 of 437 statewide, top 52%, 2,129 students, 23% FRL) — zoned schools average 32% FRL vs 16% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 67 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,936 units permitted in Montgomery County in 2024 (530 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 $7k of value loss. Plan a longer hold.
• Montgomery County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $225k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $215,942 (4.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $228,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Asheton Ln	0.06mi	2/2.0	1,430 (+10%)	6mo	$250,000	$175	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-19,369
• Equity at exit: $33,548

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $5,029
• Equity at exit: $19,454

Cash invested: $63,000 (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 18964

• Home prices YoY: -30.3%
• Active inventory: 67
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,159 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$163 /mo · $1,960/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $269

Break-even live

Break-even rent $1,819

Max offer price $225,000

Occupancy floor 83%

Sensitivity live

Price	-10% $396	-5% $333	+0% $269	+5% $205	+10% $142
Rent	-10% $98	-5% $184	+0% $269	+5% $354	+10% $440
Rate	-1.0pp $382	-0.5pp $326	base $269	+0.5pp $211	+1.0pp $151

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 N School Ln Souderton, PA	3.0	2.5	1765	$2,900	$1.64	11d	1	0.77mi
30 W Broad St #5 Souderton, PA	2.0	1.0	906	$1,950	$2.15	0d	1	0.89mi
30 W Broad St Ste 7 Souderton, PA	3.0	2.0	1645	$2,800	$1.70	45d	1	0.89mi
3120 Penn St Hatfield, PA	1.0–2.0	1.0–2.0	1005	$2,250	$2.24	0d	2	1.07mi
42 Grandview Dr Telford, PA	3.0	2.5	1641	$3,000	$1.83	0d	1	1.20mi
143 Green St Souderton, PA	3.0	1.5	1280	$2,200	$1.72	0d	1	1.25mi
203 Green St Souderton, PA	2.0	1.0	1236	$1,950	$1.58	13d	1	1.30mi

Listing history 18 events

1. 2026-06-21
   days on market $225,000 Active 24 DOM
2. 2026-06-18
   days on market $225,000 Active 21 DOM
3. 2026-06-17
   days on market $225,000 Active 20 DOM
4. 2026-06-16
   days on market $225,000 Active 19 DOM
5. 2026-06-15
   days on market $225,000 Active 18 DOM
6. 2026-06-13
   days on market $225,000 Active 16 DOM
7. 2026-06-09
   days on market $225,000 Active 12 DOM
8. 2026-06-08
   days on market $225,000 Active 11 DOM
9. 2026-06-07
   days on market $225,000 Active 10 DOM
10. 2026-06-04
    days on market $225,000 Active 7 DOM
11. 2026-06-03
    days on market $225,000 Active 6 DOM
12. 2026-06-02
    days on market $225,000 Active 5 DOM
13. 2026-06-01
    days on market $225,000 Active 4 DOM
14. 2026-05-31
    days on market $225,000 Active 3 DOM
15. 2026-05-27
    historical $225,000
16. 1998-08-28
    soldstatus $75,000 49-char remark

    Show marketing remark (49 chars)

    Housing For Older Persons As Specified In Title 8

17. 1998-07-22
    historical 49-char remark

    Show marketing remark (49 chars)

    Housing For Older Persons As Specified In Title 8

18. 1998-04-01
    listed $75,000 49-char remark

    Show marketing remark (49 chars)

    Housing For Older Persons As Specified In Title 8

ⓘ 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: $1,960 · $163/mo
• Projected year-2 tax: $2,757 · $230/mo
• Expected delta: +$798/yr (+$66/mo · 40.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,913
• − Mortgage interest: −$12,603
• − Property taxes: −$1,960
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$6,545
• Taxable loss: −$467
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $3,340/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: Souderton Area SD
• NCES district ID: 4221870
• Math proficiency: 53% ▼ -7.00%
• Reading proficiency: 67% ▼ -8.00%
• Median HH income: $79,449
• Composite: 53.84/100
• National rank: #1411
• State rank: #59 of 539 in PA

Livability — Souderton

• Score: 80/100
• State rank: #203
• US rank: #1787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 712,331 people
• City population: 14,546
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 14,546
• Household income: $96,143
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 540.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 856,074 people
• By 2030: 870,887 · +1.7%
• By 2040: 891,195 · +4.1%
• By 2050: 896,417 · +4.7%
• By 2075: 903,212 · +5.5%
• By 2100: 843,240 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 7% Asian 6% Black 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 2% Polish 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 8% Vietnamese 3% Other Indo-European 3%

Political lean MEDSL · Montgomery

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: 20.8pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+26.3 2016: D+21.1 2012: D+14.3 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.31%
• Current HPI: 276.9404
• 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

+200.0% since first listed

4 events — show timeline

• 2026-05-27 Coming Soon $225,000 BRIGHT MLS
• 1998-08-28 Sold (MLS) $75,000 BRIGHT MLS
• 1998-07-22 Listing Removed — BRIGHT MLS
• 1998-04-01 Listed $75,000 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $1,960 · +4.0% YoY. Source: county tax records.