Mansion 23 Twin Oaks I and II Plan · North Olmsted, OH 44138

$113,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 163 Days on market

Fair condition

---

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 +6.1/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the small town feel of UMH Properties, Inc. 's Twin Oaks I & II Manufactured Home Community in Olmsted Falls, OH. Whether you are looking to buy or rent, the homes at Twin Oaks I & II range from 2 to 3-bedrooms and 2-bathrooms and are built for your modern lifestyle. The floor plans include an open concept with a large eat-in kitchen, plenty of cabinet and countertop space, and include a kitchen island. The primary bedroom suites consist of a beautiful spacious bedroom, walk in closet on select models and a private master bathroom. Twin Oaks I & II Manufactured Home Community features planned events for the community such as a community picnic in August. As a valued resident, you can also enjoy the convenience of on site management and a maintenance team ready to help at any time. Twin Oaks I & II Manufactured Home Community is just 30 minutes from Cleveland, Ohio and conveniently located close to dining, shopping, fitness centers and food stores. Your days will be filled with fun and enjoyable attractions like Swings n' Things Fun Park, Cleveland Metroparks, and Historic Downtown Olmsted Falls. Immerse yourself in a laid-back atmosphere by spending the day at Lake Erie or Spencer Lake or enjoy gaming at the Jack Casino. Located in the Olmsted Falls Schools district, Twin Oaks I & II offers the feel of a small town community for its residents. Twin Oaks I & II community students grades K-5 will attend Olmsted Falls Intermediate School, Olmsted Falls Middle School for grades 6-8, and remaining grades at Olmsted Falls High School. The Twin Oaks I & II community, owned and operated by UMH Properties, Inc. , also gives its residents access to options of higher education with both Tri-C, LCCC, and Baldwin Wallace just a short drive from our community.

Key facts

• Large eat-in kitchen
• Open concept
• Kitchen island

Tags

• OPEN CONCEPT
• LARGE EAT-IN KITCHEN
• KITCHEN ISLAND
• WALK IN CLOSET
• PRIVATE MASTER BATHROOM
• CONVENIENTLY LOCATED

🏗️ 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 2-bed/2.0-bath manufactured listed at $114k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.0% in North Olmsted — 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 86/100 on livability (#38 in OH, #372 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Olmsted Falls City (suburban): math 70% / reading 70% proficiency, ranked #134 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 183 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $787 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% 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 163 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Recommended offer $100,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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 B-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: 1.57% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.43%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 1.67×
• Total profit: $21,225
• Equity at exit: $16,983

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $69,653
• Equity at exit: $9,848

Cash invested: $31,892 (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 44138

• Home prices YoY: -30.8%
• Active inventory: 183
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$597
• Tax est. 1.5%: −$142 /mo · $1,708/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $623

Break-even live

Break-even rent $996

Max offer price $113,900

Occupancy floor 60%

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27080 Oakwood Dr Olmsted Falls, OH	1.0–2.0	1.0–2.0	975	$1,780	$1.83	2d	39	0.71mi
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	2d	2	0.87mi
30349 Lorain Rd North Olmsted, OH	2.0	1.0	1000	$1,450	$1.45	8d	1	1.01mi
8600 Evergreen Trl Olmsted Falls, OH	1.0–2.0	1.0–2.0	945	$1,739	$1.84	2d	16	1.43mi

Listing history 1 events

1. 2025-12-17
   listed $113,900 Active 1824-char remark

   Show marketing remark (1824 chars)

   Enjoy the small town feel of UMH Properties, Inc. 's Twin Oaks I & II Manufactured Home Community in Olmsted Falls, OH. Whether you are looking to buy or rent, the homes at Twin Oaks I & II range from 2 to 3-bedrooms and 2-bathrooms and are built for your modern lifestyle. The floor plans include an open concept with a large eat-in kitchen, plenty of cabinet and countertop space, and include a kitchen island. The primary bedroom suites consist of a beautiful spacious bedroom, walk in closet on select models and a private master bathroom. Twin Oaks I & II Manufactured Home Community features planned events for the community such as a community picnic in August. As a valued resident, you can also enjoy the convenience of on site management and a maintenance team ready to help at any time. Twin Oaks I & II Manufactured Home Community is just 30 minutes from Cleveland, Ohio and conveniently located close to dining, shopping, fitness centers and food stores. Your days will be filled with fun and enjoyable attractions like Swings n' Things Fun Park, Cleveland Metroparks, and Historic Downtown Olmsted Falls. Immerse yourself in a laid-back atmosphere by spending the day at Lake Erie or Spencer Lake or enjoy gaming at the Jack Casino. Located in the Olmsted Falls Schools district, Twin Oaks I & II offers the feel of a small town community for its residents. Twin Oaks I & II community students grades K-5 will attend Olmsted Falls Intermediate School, Olmsted Falls Middle School for grades 6-8, and remaining grades at Olmsted Falls High School. The Twin Oaks I & II community, owned and operated by UMH Properties, Inc. , also gives its residents access to options of higher education with both Tri-C, LCCC, and Baldwin Wallace just a short drive from our community.

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,414
• − Mortgage interest: −$6,380
• − Property taxes: −$1,708
• − Insurance: −$570
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$3,313
• Taxable income: $6,016
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $6,027/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 · 1 photo

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, particularly in the kitchen and bathrooms, but has a good foundation and exterior. Upgrading the interior walls, kitchen cabinets, and bathroom fixtures can significantly increase its resale value.

Repairs flagged

• Major Kitchen cabinets — No visible photos of the kitchen, but based on the listing remarks, it appears to be in poor condition.
• Major Bathroom fixtures — No visible photos of the bathrooms, but based on the listing remarks, they appear to be in poor condition.
• Minor Exterior siding — Some minor wear visible on the siding, but overall in good condition.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Resale Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal.
• Resale Replace bathroom fixtures — Upgraded fixtures can improve the home's appeal and functionality, making it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · No visible photos of the kitchen, but based on the listing remarks, it appears to be in poor condition.	Major	$15,000–50,000
Bathroom fixtures · No visible photos of the bathrooms, but based on the listing remarks, they appear to be in poor condition.	Major	$15,000–50,000
Exterior siding · Some minor wear visible on the siding, but overall in good condition.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Resale Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal. ↑
• Resale Replace bathroom fixtures — Upgraded fixtures can improve the home's appeal and functionality, making it more attractive to potential buyers. ↑

ⓘ 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: Olmsted Falls City
• NCES district ID: 3904657
• Math proficiency: 70% ▼ -14.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $68,307
• Composite: 61.12/100
• National rank: #787
• State rank: #134 of 656 in OH

Livability — North Olmsted

• Score: 86/100
• State rank: #38
• US rank: #372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cuyahoga · 1,045,444 people
• Metro: Cleveland, OH
• Population (ZIP): 23,129
• Household income: $93,877
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 7.6

Population outlook (Cuyahoga County) Hauer SSP2

• Today (2025): 1,244,621 people
• By 2030: 1,230,093 · -1.2%
• By 2040: 1,189,108 · -4.5%
• By 2050: 1,145,706 · -7.9%
• By 2075: 1,076,557 · -13.5%
• By 2100: 978,987 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Cuyahoga

• 2024 margin: Solid D (+31.5) · D 65.4% · R 33.9%
• 2008→2024 swing: -7.4pp toward R · 2008: 38.9pp · 2024: 31.5pp
• All cycles: 2024: D+31.5 2020: D+34.1 2016: D+35.0 2012: D+38.7 2008: D+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.76%
• Current HPI: 201.9716
• 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

1 event — show timeline

• 2025-12-17 Listed $113,900 Zillow