6254 Us 40 #59

Brandt, OH 45371

$26,700D

2 bd · 1.0 ba · 744 sqft · Built 1971 · Manufactured · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,530/mo
• Mortgage (P&I): −$140
• Tax + insurance: −$44
• HOA: −$350
• Vac / Maint / Mgmt: −$321
• Net cashflow: $674/mo
• Annual: $8,090/yr
• Cap rate: 36.59%
• Cash-on-cash: 108.22%
• DSCR: 5.81
• 1% rule: 5.73%
• Cash to close: $7,476

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $27k.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $27k).
• It's been on market 62 days — a 6% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $185 of loan paydown is wiped out by about $801 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bethel Local (rural): math 63% / reading 69% proficiency, ranked #174 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 23% of rent.
• Market conditions: 250 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $11k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.