41 Northview Ave

Harveys Lake, PA 18618

$119,000B

3 bd · 1.0 ba · 576 sqft · Built 1972 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $595/mo
• Annual: $7,141/yr
• Cap rate: 12.29%
• Cash-on-cash: 21.43%
• DSCR: 1.95
• 1% rule: 1.39%
• Cash to close: $33,320

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $119k.
• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• It's been on market 21 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($823 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 68/100 on livability (#923 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Lake-Lehman SD (rural): math 39% / reading 59% proficiency, ranked #176 of 539 in PA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y 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.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.