Clayton 48 Worthington Arms Plan · Delaware, OH 43035

$115,500

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 170 Days on market

Fair condition

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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
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOR SALE

Key facts

• Listed 170 days

🏗️ 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 fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/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 16.9% vs local median 2.5% 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+, schools A; Watch: amenities C-, commute F.
• Olentangy Local (rural): math 81% / reading 84% proficiency, ranked #18 of 656 in OH (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.9%/yr); 172 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).
• This rent is only 18% of the median local income ($155k/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 $799 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 + 1.9% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Recommended offer $101,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.00% ✓
• Cap rate: 16.92%
• Cash-on-cash: 37.94%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.36×
• Total profit: $43,889
• Equity at exit: $17,221

10-year hold

• IRR: 39.1%
• Equity multiple: 4.46×
• Total profit: $111,991
• Equity at exit: $9,986

Cash invested: $32,340 (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 43035

• Home prices YoY: -12.0%
• Rents YoY: 1.9%
• Active inventory: 172
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,305 medium
• Mortgage (P&I): −$606
• Tax est. 1.5%: −$144 /mo · $1,732/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $1,022

Break-even live

Break-even rent $1,010

Max offer price $115,500

Occupancy floor 51%

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5654 Orange Summit Dr Lewis Center, OH	1.0–3.0	1.0–2.5	1220	$2,650	$2.17	3d	11	0.45mi
505 Wintergreen Way Lewis Center, OH	2.0	2.0	1415	$2,250	$1.59	23d	1	0.72mi
5983 Bluestone Way Lewis Center, OH	3.0	2.0	1415	$2,150	$1.52	43d	1	0.80mi
5901 Blackbird Way Lewis Center, OH	2.0	2.0	1442	$2,199	$1.52	43d	1	0.84mi

Listing history 16 events

1. 2026-06-18
   days on market $115,500 Active 170 DOM
2. 2026-06-17
   days on market $115,500 Active 169 DOM
3. 2026-06-16
   days on market $115,500 Active 168 DOM
4. 2026-06-15
   days on market $115,500 Active 167 DOM
5. 2026-06-13
   days on market $115,500 Active 165 DOM
6. 2026-06-13
   days on market $115,500 Active 164 DOM
7. 2026-06-10
   days on market $115,500 Active 161 DOM
8. 2026-06-08
   days on market $115,500 Active 160 DOM
9. 2026-06-07
   days on market $115,500 Active 159 DOM
10. 2026-06-05
    days on market $115,500 Active 156 DOM
11. 2026-06-03
    days on market $115,500 Active 155 DOM
12. 2026-06-02
    days on market $115,500 Active 154 DOM
13. 2026-06-01
    days on market $115,500 Active 153 DOM
14. 2026-05-31
    days on market $115,500 Active 152 DOM
15. 2026-03-25
    price $115,500 8-char remark

    Show marketing remark (8 chars)

    FOR SALE

16. 2025-12-30
    listed $107,000 Active 8-char remark

    Show marketing remark (8 chars)

    FOR SALE

ⓘ 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 ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,654
• − Mortgage interest: −$6,470
• − Property taxes: −$1,732
• − Insurance: −$578
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − Depreciation: −$3,360
• Taxable income: $11,090
• Est. tax owed @ 24.0%: −$2,662
• After-tax cash flow: $9,607/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 · 3 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with average interior and exterior. Simple updates like painting and kitchen and bathroom renovations can significantly increase its value.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace countertops and backsplash in kitchen — Modern kitchen updates attract more buyers and renters
• Both Install new flooring in bathrooms — Fresh flooring improves aesthetics and is a high-ROI update

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace countertops and backsplash in kitchen — Modern kitchen updates attract more buyers and renters ↑
• Both Install new flooring in bathrooms — Fresh flooring improves aesthetics and is a high-ROI update ↑

ⓘ 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: Olentangy Local
• NCES district ID: 3904676
• Math proficiency: 81% ▼ -8.00%
• Reading proficiency: 84% ▼ -5.00%
• Median HH income: $111,074
• Composite: 75.56/100
• National rank: #132
• State rank: #18 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): 36,012
• Household income: $154,683
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 599.0

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 (66%)
• Race & ethnicity: White 66% Asian 18% Black 8% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 5% Italian 3% Lithuanian 2%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 79% English-only · Other Indo-European 8% Other Asian/Pacific 5% Chinese 3%

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: ▼ -29.23%
• Current HPI: 214.3911
• Rent YoY: ▲ 1.89%
• 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

+7.9% since first listed

2 events — show timeline

• 2026-03-25 Price Changed $115,500 Zillow
• 2025-12-30 Listed $107,000 Zillow