120 Bordic Rd

Exeter, PA 19606

$49,900B+

2 bd · 1.5 ba · 840 sqft · Built 2001 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,706/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $981/mo
• Annual: $11,772/yr
• Cap rate: 29.88%
• Cash-on-cash: 84.25%
• DSCR: 4.75
• 1% rule: 3.42%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $50k.
• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#392 in PA, #3,546 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F.
• Exeter Township SD (suburban): math 41% / reading 60% proficiency, ranked #141 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lorane El Sch (math 32% / reading 62%, grade D-, #737 of 1,518 statewide, top 52%, 451 students, 36% FRL); Reiffton Sch (math 37% / reading 66%, grade C, #109 of 512 statewide, top 22%, 612 students, 39% FRL); Exeter Twp Shs (math 74% / reading 24%, grade D, #149 of 437 statewide, top 34%, 1,286 students, 30% FRL).
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 15y 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 $16k; list at $50k implies a 212% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 29.9% vs local median 4.2% in Exeter — 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.
• 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.