9253 Route 417

Shinglehouse, PA 14754

$134,900C-

3 bd · 1.5 ba · 1,344 sqft · Built 2015 · Manufactured · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-2/mo
• Annual: $-20/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $135k. Condition is rated fair.
• At list price, monthly cash flow is $-2 ($-20/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (12.7% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $118k (12.7% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (9.8% local appreciation)).
• Location reads 63/100 on livability (#1,290 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• Bolivar-Richburg Central School District (rural): math 50% / reading 51% proficiency, ranked #395 of 590 in NY (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y 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 $70k; list at $135k implies a 93% gain — meaningful room to come down on a strong offer.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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: wooden deck — visible wear and tear
• Major: wooden deck railings — visible wear and tear
• Major: wooden deck flooring — visible wear and tear