1000 W Main St #45

West Jefferson, OH 43162

$39,000B

2 bd · 2.0 ba · 980 sqft · Built 1997 · Manufactured · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,517/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $929/mo
• Annual: $11,148/yr
• Cap rate: 34.88%
• Cash-on-cash: 102.09%
• DSCR: 5.54
• 1% rule: 3.89%
• Cash to close: $10,920

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $39k. Condition is rated fair.
• At list price, monthly cash flow is $929 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• It's been on market 46 days — a 3% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#558 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Jefferson Local (town): math 55% / reading 54% proficiency, ranked #361 of 656 in OH (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Norwood Elementary School (math 73% / reading 65%, grade A-, #431 of 1,584 statewide, top 27%, 437 students, 42% FRL); West Jefferson Middle School (math 44% / reading 42%, grade D-, #489 of 654 statewide, top 75%, 254 students, 0% FRL); West Jefferson High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 296 students, 70% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 530 units permitted in Madison County in 2024 (120 in 5+ unit buildings).
• Madison County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $27k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 34.9% vs local median 3.5% in West Jefferson — 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.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Deck — Slight wear
• Minor: Siding — Slight wear