Skyline 32 Fohl Village Plan

North Industry, OH 44706

$149,900D

3 bd · 2.0 ba · 1,417 sqft · Built — · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,363/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$286
• Net cashflow: $41/mo
• Annual: $489/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $41 ($489/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 $136k (9.1% below list).
• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (9.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Canton Local (suburban): math 54% / reading 52% proficiency, ranked #401 of 656 in OH (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Faircrest Memorial Elementary School (math 65% / reading 56%, grade B-, #657 of 1,584 statewide, top 42%, 765 students, 0% FRL); Canton South Middle School (math 56% / reading 51%, grade C+, #362 of 654 statewide, top 57%, 391 students, 0% FRL); Canton South High School (math 32% / reading 52%, grade F, #497 of 781 statewide, top 66%, 815 students, 41% FRL) — zoned schools average 14% FRL vs 50% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 91 active listings in the ZIP; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.