11377 Township Road 266 #34 · Chippewa Park, OH 43331

$56,000

2 bd · 1.0 ba · 432 sqft · Manufactured · 306 Days on market

Built 2005 Good condition $130/sqft · 16% above area Est $48k · 16% over ↓ 14% since listing

---

Why this score? — see what drove the C+ 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 +5.3/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich community!

Key facts

• Covered deck
• Double loft
• Expansive park model

Tags

• EXPANSIVE PARK MODEL
• DOUBLE LOFT
• COVERED DECK
• WALK-IN SHOWER WITH SEAT
• AMENITY-RICH COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $56k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 4.1% in Chippewa Park — 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 49/100 on livability (#1,173 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 109 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $49,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 306 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.19% ✓
• Cap rate: 18.72%
• Cash-on-cash: 44.39%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (median comp): $48,078
• List price: $56,000
• Delta: 16.48%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11377 Township Road 266 #77	0.00mi	1/1.0 (-1)	432 (0%)	8mo	$57,000	$132	89
11377 Township Road 266 #61	0.00mi	1/1.0 (-1)	432 (0%)	9mo	$56,000	$130	87
11377 Township Road 266 #15	0.00mi	1/1.0 (-1)	432 (0%)	9mo	$45,000	$104	87
11377 Township Rd 266 #66	0.00mi	2/1.0	396 (-8%)	2mo	$75,000	$189	84
11377 Township Road 266 #30	0.00mi	2/1.0	396 (-8%)	5mo	$40,000	$101	82
11377 Township Road 266 #75	0.00mi	2/1.0	396 (-8%)	7mo	$79,000	$199	80
11377 Township Road 266 #28	0.00mi	1/1.0 (-1)	396 (-8%)	2mo	$77,500	$196	80
11377 Township Road 266 #70	0.00mi	2/1.0	396 (-8%)	9mo	$97,500	$246	78
11377 Township Road 266 #98	0.06mi	2/1.0	396 (-8%)	7mo	$102,000	$258	77
11377 Township Road 266 #57	0.06mi	2/1.0	396 (-8%)	8mo	$45,000	$114	77
11377 Township Road 266 #3	0.00mi	1/1.0 (-1)	396 (-8%)	7mo	$45,500	$115	75
11377 TR 266	0.00mi	1/1.0 (-1)	367 (-15%)	9mo	$60,000	$163	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 41.4%
• Equity multiple: 2.78×
• Total profit: $27,889
• Equity at exit: $8,350

10-year hold

• IRR: 47.6%
• Equity multiple: 5.59×
• Total profit: $71,934
• Equity at exit: $4,842

Cash invested: $15,680 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 109
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$294
• Tax est. 1.5%: −$70 /mo · $840/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $580

Break-even live

Break-even rent $490

Max offer price $56,000

Occupancy floor 48%

Sensitivity live

Price	-10% $619	-5% $599	+0% $580	+5% $561	+10% $541
Rent	-10% $483	-5% $532	+0% $580	+5% $628	+10% $677
Rate	-1.0pp $608	-0.5pp $594	base $580	+0.5pp $566	+1.0pp $551

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $56,000 Active 306 DOM
2. 2026-06-18
   days on market $56,000 Active 304 DOM
3. 2026-06-17
   days on market $56,000 Active 303 DOM
4. 2026-06-16
   days on market $56,000 Active 302 DOM
5. 2026-06-15
   days on market $56,000 Active 301 DOM
6. 2026-06-13
   days on market $56,000 Active 299 DOM
7. 2026-06-12
   days on market $56,000 Active 298 DOM
8. 2026-06-09
   days on market $56,000 Active 295 DOM
9. 2026-06-08
   days on market $56,000 Active 294 DOM
10. 2026-06-08
    days on market $56,000 Active 293 DOM
11. 2026-06-07
    days on market $56,000 Active 292 DOM
12. 2026-06-04
    days on market $56,000 Active 289 DOM
13. 2026-06-02
    days on market $56,000 Active 288 DOM
14. 2026-06-01
    days on market $56,000 Active 287 DOM
15. 2026-05-31
    days on market $56,000 Active 286 DOM
16. 2026-04-27
    status Active 735-char remark

    Show marketing remark (735 chars)

    Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich community!

17. 2026-04-24
    historical 735-char remark

    Show marketing remark (735 chars)

    Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich community!

18. 2025-10-27
    price $56,000 735-char remark

    Show marketing remark (735 chars)

    Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich community!

19. 2025-09-30
    price $62,000 735-char remark

    Show marketing remark (735 chars)

    Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich community!

20. 2025-08-14
    listed $65,000 Active 735-char remark

    Show marketing remark (735 chars)

    Bring all the kids! This expansive park model is designed to accommodate large families with ease. Featuring a cleverly divided living room area and a double loft, there's plenty of room for everyone to relax and unwind. Located in a serene park with abundant shade tress, you'll find yourself just steps away from the pool and nine-hole putt-putt course. The large, covered deck provides and ideal spot for outdoor cookouts and dining. Fully furnished and move in ready, this home includes a walk-in shower with seat for added convenience. The park offers additional amenities such as shuffleboard, a shelter house and playground area. Don't miss this opportunity to own a family friendly retreat in a peaceful amenity-rich 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,690
• − Mortgage interest: −$3,137
• − Property taxes: −$840
• − Insurance: −$280
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$1,629
• Taxable income: $6,453
• Est. tax owed @ 24.0%: −$1,549
• After-tax cash flow: $5,412/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 75/100 Cosmetic rehab

This park model is move-in ready with good condition and ample space, ideal for families. Minor updates can further enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace worn-out carpet — Improves comfort and appearance
• Both Install new window treatments — Enhances curb appeal and privacy
• Resale Upgrade kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace worn-out carpet — Improves comfort and appearance ↑
• Both Install new window treatments — Enhances curb appeal and privacy ↑
• Resale Upgrade kitchen appliances — Modernizes the space and adds value ↑

ⓘ 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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Chippewa Park

• Score: 49/100
• State rank: #1173
• US rank: #25758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• 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

-13.8% since first listed

5 events — show timeline

• 2026-04-27 Relisted — WRIST
• 2026-04-24 Listing Removed — WRIST
• 2025-10-27 Price Changed $56,000 WRIST
• 2025-09-30 Price Changed $62,000 WRIST
• 2025-08-14 Listed $65,000 WRIST