CAVCO Schmidt "A" Plan · Delaware, OH 43015

$115,900

3 bd · 2.0 ba · 1,309 sqft · Manufactured · 124 Days on market

Good condition ↓ 4% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting manufactured home located in the desirable Crystal Lake Community, Lot 71. This spacious double-wide offers 3 bedrooms, 2 bathrooms, and approximately 1,309 square feet of comfortable living space - perfect for families, roommates, or anyone looking for extra room to spread out. Inside, you'll find a practical layout designed for everyday living, with generous bedroom sizes and open common areas that make relaxing or entertaining easy. The primary bedroom includes its own private bathroom, creating a quiet retreat at the end of the day. Situated in the peaceful Crystal Lake Community, this manufactured home combines space, comfort, and value in a welcoming neighborhood setting. Whether you're looking for your first home, downsizing, or simply seeking affordable living without sacrificing space, Lot 71 is a fantastic opportunity.

Key facts

• Open common areas
• Private bathroom
• Listed 124 days

Tags

• PRIVATE BATHROOM
• OPEN COMMON AREAS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $116k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 2.6% in Delaware — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#116 in OH, #1,717 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, crime A; Watch: amenities C-, commute F.
• Delaware City (suburban): math 47% / reading 63% proficiency, ranked #355 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James Conger Elementary School (math 47% / reading 62%, grade C, #788 of 1,584 statewide, top 52%, 432 students, 37% FRL); John C Dempsey Middle School (math 50% / reading 61%, grade B-, #321 of 654 statewide, top 51%, 1,247 students, 30% FRL); Rutherford B Hayes High School (math 36% / reading 67%, grade D+, #371 of 781 statewide, top 48%, 1,700 students, 25% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 502 active listings in the ZIP; solid renter incomes; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $101,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.20%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 1.67×
• Total profit: $21,719
• Equity at exit: $17,281

10-year hold

• IRR: 24.3%
• Equity multiple: 2.95×
• Total profit: $63,248
• Equity at exit: $10,021

Cash invested: $32,452 (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 43015

• Rents YoY: 1.4%
• Active inventory: 502
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$608
• Tax est. 1.5%: −$145 /mo · $1,738/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $682

Break-even live

Break-even rent $1,014

Max offer price $115,900

Occupancy floor 59%

Sensitivity live

Price	-10% $762	-5% $722	+0% $682	+5% $642	+10% $601
Rent	-10% $533	-5% $607	+0% $682	+5% $756	+10% $830
Rate	-1.0pp $740	-0.5pp $711	base $682	+0.5pp $652	+1.0pp $621

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $115,900 Active 124 DOM
2. 2026-06-19
   price $115,900 Active 121 DOM
3. 2026-06-18
   days on market $119,900 Active 121 DOM
4. 2026-06-17
   days on market $119,900 Active 120 DOM
5. 2026-06-16
   days on market $119,900 Active 119 DOM
6. 2026-06-15
   days on market $119,900 Active 118 DOM
7. 2026-06-13
   days on market $119,900 Active 116 DOM
8. 2026-06-09
   days on market $119,900 Active 112 DOM
9. 2026-06-08
   days on market $119,900 Active 111 DOM
10. 2026-06-07
    days on market $119,900 Active 110 DOM
11. 2026-06-03
    days on market $119,900 Active 106 DOM
12. 2026-06-02
    days on market $119,900 Active 105 DOM
13. 2026-06-01
    days on market $119,900 Active 104 DOM
14. 2026-05-31
    days on market $119,900 Active 103 DOM
15. 2026-03-27
    status Active 865-char remark

    Show marketing remark (865 chars)

    Welcome to this inviting manufactured home located in the desirable Crystal Lake Community, Lot 71. This spacious double-wide offers 3 bedrooms, 2 bathrooms, and approximately 1,309 square feet of comfortable living space - perfect for families, roommates, or anyone looking for extra room to spread out. Inside, you'll find a practical layout designed for everyday living, with generous bedroom sizes and open common areas that make relaxing or entertaining easy. The primary bedroom includes its own private bathroom, creating a quiet retreat at the end of the day. Situated in the peaceful Crystal Lake Community, this manufactured home combines space, comfort, and value in a welcoming neighborhood setting. Whether you're looking for your first home, downsizing, or simply seeking affordable living without sacrificing space, Lot 71 is a fantastic opportunity.

16. 2026-03-27
    price $119,900 865-char remark

    Show marketing remark (865 chars)

    Welcome to this inviting manufactured home located in the desirable Crystal Lake Community, Lot 71. This spacious double-wide offers 3 bedrooms, 2 bathrooms, and approximately 1,309 square feet of comfortable living space - perfect for families, roommates, or anyone looking for extra room to spread out. Inside, you'll find a practical layout designed for everyday living, with generous bedroom sizes and open common areas that make relaxing or entertaining easy. The primary bedroom includes its own private bathroom, creating a quiet retreat at the end of the day. Situated in the peaceful Crystal Lake Community, this manufactured home combines space, comfort, and value in a welcoming neighborhood setting. Whether you're looking for your first home, downsizing, or simply seeking affordable living without sacrificing space, Lot 71 is a fantastic opportunity.

17. 2026-03-24
    historical 865-char remark

    Show marketing remark (865 chars)

    Welcome to this inviting manufactured home located in the desirable Crystal Lake Community, Lot 71. This spacious double-wide offers 3 bedrooms, 2 bathrooms, and approximately 1,309 square feet of comfortable living space - perfect for families, roommates, or anyone looking for extra room to spread out. Inside, you'll find a practical layout designed for everyday living, with generous bedroom sizes and open common areas that make relaxing or entertaining easy. The primary bedroom includes its own private bathroom, creating a quiet retreat at the end of the day. Situated in the peaceful Crystal Lake Community, this manufactured home combines space, comfort, and value in a welcoming neighborhood setting. Whether you're looking for your first home, downsizing, or simply seeking affordable living without sacrificing space, Lot 71 is a fantastic opportunity.

18. 2026-02-13
    listed $124,900 Active 865-char remark

    Show marketing remark (865 chars)

    Welcome to this inviting manufactured home located in the desirable Crystal Lake Community, Lot 71. This spacious double-wide offers 3 bedrooms, 2 bathrooms, and approximately 1,309 square feet of comfortable living space - perfect for families, roommates, or anyone looking for extra room to spread out. Inside, you'll find a practical layout designed for everyday living, with generous bedroom sizes and open common areas that make relaxing or entertaining easy. The primary bedroom includes its own private bathroom, creating a quiet retreat at the end of the day. Situated in the peaceful Crystal Lake Community, this manufactured home combines space, comfort, and value in a welcoming neighborhood setting. Whether you're looking for your first home, downsizing, or simply seeking affordable living without sacrificing space, Lot 71 is a fantastic opportunity.

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,519
• − Mortgage interest: −$6,492
• − Property taxes: −$1,738
• − Insurance: −$580
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$3,372
• Taxable income: $6,734
• Est. tax owed @ 24.0%: −$1,616
• After-tax cash flow: $6,563/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 Crystal Lake manufactured home is in good condition with a good condition score of 80. It is move-in ready with a cosmetic rehab level and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and value
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and value ↑
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs ↑

ⓘ 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: Delaware City
• NCES district ID: 3904387
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 63% ▼ -7.00%
• Median HH income: $55,434
• Composite: 47.39/100
• National rank: #2288
• State rank: #355 of 656 in OH

Livability — Delaware

• Score: 80/100
• State rank: #116
• US rank: #1717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 61,401
• Metro: Columbus, OH
• Population (ZIP): 61,401
• Household income: $105,322
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 965.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 5% Black 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -398.47%
• Current HPI: 233.0634
• Rent YoY: ▲ 1.42%
• Metro: Columbus, OH
• 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

-4.0% since first listed

4 events — show timeline

• 2026-03-27 Relisted — Zillow
• 2026-03-27 Price Changed $119,900 Zillow
• 2026-03-24 Delisted — Zillow
• 2026-02-13 Listed $124,900 Zillow