2022 Victory Rd #61

Marion, OH 43302

$107,876C-

2 bd · 1.0 ba · 784 sqft · Built 2026 · Manufactured · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,075/mo
• Mortgage (P&I): −$566
• Tax + insurance: −$180
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $103/mo
• Annual: $1,242/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• 1% rule: 1.00%
• Cash to close: $30,205

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $108k.
• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (0.4% below list).
• It's been on market 86 days — a 6% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $746 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• River Valley Local (rural): math 60% / reading 62% proficiency, ranked #264 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Heritage Elementary School (math 64% / reading 70%, grade B+, #456 of 1,584 statewide, top 31%, 495 students, 28% FRL); River Valley Middle School (math 58% / reading 58%, grade B, #297 of 654 statewide, top 46%, 453 students, 40% FRL); River Valley High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 517 students, 32% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 208 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.