105 S 4th St Lot 16 · Cardington, OH 43315

$33,900

2 bd · 1.0 ba · 1,072 sqft · SingleFamily · 16 Days on market

Built 1993 Good condition $460/mo HOA · 45% of rent

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Why this score? — see what drove the B 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 +28.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 2-Bedroom Home in Beulah Manufactured Home Park - Move-In Ready! Located on Lot 16, this well-maintained 1993 Redman manufactured home offers 1,072 square feet of comfortable living space and features 2 bedrooms and 1 full bathroom. Spacious, open-concept kitchen with bay windows. Generously sized bathroom includes convenient laundry hookups for added functionality. All-new appliances in 2023, including a refrigerator, gas range, and dishwasher, along with a new hot water tank. A shed is also located on the property and included. This listing is for the mobile home and doesn't include the land/lot. Monthly lot fee is $460. Buyer must be approved by park management prior to purcha

Key facts

• Built 1993
• Listed 16 days

Property features AI

Finance

• Other: Property listed in Beulah's Manufactured Home Park, Cardington township
• HOA & community: Homeowners association with a monthly fee of $460; Association fee includes snow removal

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home (Other residential without deeded land); Single-story; Built in 1993; Lot identified as Lot 16 in Beulah's Manufactured Home Park
• Construction: Foundation: Other; Mobile home dimensions approximately 67 ft by 16 ft; No common walls
• Exterior features: Shed(s) on the property

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Living area of approximately 1,072; Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $34k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $33k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#310 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Cardington-Lincoln Local (rural): math 48% / reading 58% proficiency, ranked #395 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 129 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($70k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $234 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morrow County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.

Recommended offer $33,391 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.01% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.10%
• DSCR: 1.63
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $214,400
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 S 4th St Lot 16	0.00mi	2/1.0	1,072 (0%)	1mo	$32,900	$31	100
110 Lowenstein Ln	0.44mi	3/2.0 (+1)	1,100 (+3%)	3mo	$219,900	$200	64
421 Douglas St	0.06mi	3/2.0 (+1)	1,200 (+12%)	13mo	$263,500	$220	58
115 Richelderfer St	0.51mi	3/1.5 (+1)	1,120 (+4%)	13mo	$249,900	$223	50
200 Center Street St	0.72mi	2/1.0	1,134 (+6%)	20mo	$160,000	$141	40

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $1,908
• Equity at exit: $5,055

10-year hold

• IRR: 15.2%
• Equity multiple: 2.27×
• Total profit: $12,019
• Equity at exit: $2,931

Cash invested: $9,492 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43315

• Home prices YoY: -25.8%
• Active inventory: 33
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $508/yr
• Insurance: −$14
• HOA: −$460
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $112

Break-even live

Break-even rent $879

Max offer price $33,900

Occupancy floor 84%

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: $8,475
• Closing costs: $1,017
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Park St Cardington, OH	3.0	1.5	1127	$1,020	$0.91	17d	1	0.36mi

HOA detail

• Monthly dues: $460 · $5,520/yr
• Likely covers: watergas

Listing history 4 events

1. 2026-05-12
   status Pending
2. 2026-04-28
   historical Contingent
3. 2026-04-26
   listed $33,900 Active
4. 2026-04-22
   historical $33,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,240
• − Mortgage interest: −$1,899
• − Property taxes: −$508
• − Insurance: −$170
• − Repairs & maintenance: −$979
• − Management: −$979
• − HOA: −$5,520
• − Depreciation: −$986
• Taxable income: $1,198
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $1,051/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home in Beulah Park offers a spacious, open-concept kitchen and bathroom, with all-new appliances and a well-maintained exterior. Minor updates to the exterior and interior can further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value.
• Both Clean gutters — Improves drainage and property value.
• Both Replace carpet in bedrooms — Freshens up the interior and adds value.
• Both Install new light fixtures — Modernizes the space and enhances curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value. ↑
• Both Clean gutters — Improves drainage and property value. ↑
• Both Replace carpet in bedrooms — Freshens up the interior and adds value. ↑
• Both Install new light fixtures — Modernizes the space and enhances curb appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cardington-Lincoln Local
• NCES district ID: 3904879
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $50,782
• Composite: 45.31/100
• National rank: #2646
• State rank: #395 of 656 in OH

Livability — Cardington

• Score: 73/100
• State rank: #310
• US rank: #5049

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cardington, OH
• County: Morrow · 41,908 people
• Metro: Columbus, OH
• Population (ZIP): 6,996
• Household income: $69,621
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 4.1

Population outlook (Morrow County) Hauer SSP2

• Today (2025): 35,607 people
• By 2030: 35,482 · -0.4%
• By 2040: 34,369 · -3.5%
• By 2050: 32,038 · -10.0%
• By 2075: 25,090 · -29.5%
• By 2100: 17,123 · -51.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 1%
• Common ancestry: Slovak 7% Portuguese 5% Romanian 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Morrow

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.5%
• 2008→2024 swing: -32.4pp toward R · 2008: -23.4pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+54.3 2016: R+49.5 2012: R+24.6 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.79%
• Current HPI: 235.5712
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+0.0% since first listed

4 events — show timeline

• 2026-05-12 Pending — CBRMLS
• 2026-04-28 Contingent — CBRMLS
• 2026-04-26 Listed $33,900 CBRMLS
• 2026-04-22 Coming Soon $33,900 CBRMLS