632 Folkerth Ave #70 · Sidney, OH 45365

$32,000

2 bd · 1.0 ba · 972 sqft · Manufactured · 102 Days on market

Manufactured home Built 1979 Good condition $33/sqft · 45% below area Est $58k · 45% under · waterfront ↓ 9% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -6.6

Listing remarks

Located at Lakeside Village Mobile Park less than 5 minutes from I-75, shopping plazas and eateries. This recently renovated 2 bed; 1 bath manufactured home is located on a private lake with your very own dock. All purchasers must complete an application and be approved for residency by park management. Lot rent is $470 per month, no utilities included.

Key facts

• Private dock
• Lakes side
• Built 1979

Tags

• PRIVATE DOCK
• LAKES SIDE

🏷️ Possibly a rental listed for sale. The $32,000 price doesn't fit this home's estimated sale value (~$57,982) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $32k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($787 rent vs $32k).
• Recommended offer: $29k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 3.8% in Sidney — 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 76/100 on livability (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Longfellow Primary School (348 students, 72% FRL); Sidney Middle School (math 46% / reading 53%, grade C, #421 of 654 statewide, top 65%, 840 students, 60% FRL); Sidney High School (math 31% / reading 56%, grade F, #493 of 781 statewide, top 63%, 826 students, 55% FRL).
• Market conditions: 202 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).
• This rent is only 14% of the median local income ($66k/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 $221 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• Shelby County population projected at -18% 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 $9k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $29,120 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 2.46% ✓
• Cap rate: 21.32%
• Cash-on-cash: 53.66%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (median comp): $57,982
• List price: $32,000
• Delta: -44.81%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
632 Folkerth Ave #16	0.03mi	2/2.0	924 (-5%)	17mo	$42,000	$45	72
1042 Apple Blossom Ln	0.72mi	2/2.0	883 (-9%)	5mo	$46,000	$52	43

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: 51.8%
• Equity multiple: 3.27×
• Total profit: $20,346
• Equity at exit: $4,771

10-year hold

• IRR: 57.1%
• Equity multiple: 6.65×
• Total profit: $50,626
• Equity at exit: $2,767

Cash invested: $8,960 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 2 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 45365

• Home prices YoY: -20.1%
• Active inventory: 202
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $787 high
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $401

Break-even live

Break-even rent $280

Max offer price $32,000

Occupancy floor 44%

Sensitivity live

Price	-10% $423	-5% $412	+0% $401	+5% $390	+10% $379
Rent	-10% $338	-5% $370	+0% $401	+5% $432	+10% $463
Rate	-1.0pp $417	-0.5pp $409	base $401	+0.5pp $392	+1.0pp $384

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: $8,000
• Closing costs: $960
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 N Wagner Ave Sidney, OH	2.0	1.0	700	$975	$1.39	68d	1	0.82mi
600 N Wagner Ave Sidney, OH	2.0	1.0	729	$975	$1.34	63d	1	0.83mi
560 N Wagner Ave Sidney, OH	2.0	1.0	729	$975	$1.34	52d	1	0.84mi
713 Country Side Ln Sidney, OH	2.0	1.0	998	$1,100	$1.10	11d	1	0.88mi
934 Buckeye Ave Sidney, OH	2.0	1.0	665	$1,172	$1.76	30d	1	0.94mi
934 Buckeye Ave Apt 212 Sidney, OH	2.0	1.0	665	$1,172	$1.76	11d	1	0.94mi
751 Campbell Rd Sidney, OH	2.0	1.0	980	$1,100	$1.12	52d	1	1.27mi
552 Stonecastle Ct Sidney, OH	2.0	1.0	836	$900	$1.08	93d	1	1.32mi
552 Stonecastle Ct Unit B1 Sidney, OH	2.0	1.5	836	$900	$1.08	93d	1	1.32mi
522 Stonecastle Ct Sidney, OH	2.0	1.0	836	$900	$1.08	93d	1	1.33mi

Property features AI

Finance

• Other: Lot has building restrictions

Exterior

• Utilities: Public sewerNatural gas connectedSewer connectedSupplied water
• Home design: Manufactured homeResidential propertyBuilt in 1979
• Construction: Aluminum sidingFoundation: Other/None
• Exterior features: DeckHas waterfront accessLakefront

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Laminate flooringNo basement

Listing history 44 events

1. 2026-07-23
   days on market $32,000 Active 102 DOM
2. 2026-07-22
   days on market $32,000 Active 101 DOM
3. 2026-07-21
   days on market $32,000 Active 100 DOM
4. 2026-07-18
   days on market $32,000 Active 97 DOM
5. 2026-07-16
   days on market $32,000 Active 95 DOM
6. 2026-07-16
   days on market $32,000 Active 94 DOM
7. 2026-07-14
   days on market $32,000 Active 93 DOM
8. 2026-07-13
   days on market $32,000 Active 92 DOM
9. 2026-07-12
   days on market $32,000 Active 91 DOM
10. 2026-07-11
    days on market $32,000 Active 90 DOM
11. 2026-07-10
    days on market $32,000 Active 89 DOM
12. 2026-07-09
    days on market $32,000 Active 88 DOM
13. 2026-07-07
    days on market $32,000 Active 86 DOM
14. 2026-07-06
    days on market $32,000 Active 85 DOM
15. 2026-07-05
    days on market $32,000 Active 84 DOM
16. 2026-07-03
    days on market $32,000 Active 82 DOM
17. 2026-07-02
    days on market $32,000 Active 81 DOM
18. 2026-07-01
    days on market $32,000 Active 80 DOM
19. 2026-06-30
    days on market $32,000 Active 79 DOM
20. 2026-06-29
    days on market $32,000 Active 78 DOM
21. 2026-06-28
    days on market $32,000 Active 77 DOM
22. 2026-06-28
    days on market $32,000 Active 76 DOM
23. 2026-06-27
    days on market $32,000 Active 75 DOM
24. 2026-06-25
    days on market $32,000 Active 73 DOM
25. 2026-06-23
    days on market $32,000 Active 71 DOM
26. 2026-06-21
    days on market $32,000 Active 70 DOM
27. 2026-06-18
    days on market $32,000 Active 67 DOM
28. 2026-06-17
    days on market $32,000 Active 66 DOM
29. 2026-06-16
    days on market $32,000 Active 65 DOM
30. 2026-06-15
    days on market $32,000 Active 64 DOM
31. 2026-06-14
    days on market $32,000 Active 62 DOM
32. 2026-06-13
    days on market $32,000 Active 61 DOM
33. 2026-06-10
    days on market $32,000 Active 59 DOM
34. 2026-06-09
    days on market $32,000 Active 58 DOM
35. 2026-06-08
    days on market $32,000 Active 57 DOM
36. 2026-06-07
    days on market $32,000 Active 56 DOM
37. 2026-06-03
    days on market $32,000 Active 52 DOM
38. 2026-06-02
    days on market $32,000 Active 51 DOM
39. 2026-06-01
    days on market $32,000 Active 50 DOM
40. 2026-05-31
    days on market $32,000 Active 49 DOM
41. 2026-05-31
    days on market $32,000 Active 48 DOM
42. 2026-04-23
    status Active 355-char remark
43. 2026-04-19
    status Pending 355-char remark
44. 2026-04-08
    listed $35,000 Active 355-char remark

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,445
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$756
• − Management: −$756
• − Depreciation: −$931
• Taxable income: $4,571
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $3,711/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 80/100 Cosmetic rehab Est. rehab $4,860–$14,580 screening

This recently renovated 2-bedroom, 1-bathroom manufactured home is located on a private lake with a dock. The home is in good condition with recent updates to the kitchen and bathrooms, and it offers a peaceful lakeside setting.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace outdoor lighting — Improves safety and enhances curb appeal ↑
• Both Install new outdoor furniture — Enhances outdoor living space and appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Longfellow Primary School Middle Sidney Middle School C OH #421/654 Nat'l #3,585/14,009 High Sidney High School F OH #493/781 Nat'l #7,376/17,239

Schools (NCES district)

• District: Sidney City
• NCES district ID: 3910003
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $45,974
• Composite: 41.55/100
• National rank: #3443
• State rank: #454 of 656 in OH

B Composite livability gradescore 76/100

Livability — Sidney

• Score: 76/100
• State rank: #220
• US rank: #3412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, OH
• County: Shelby · 47,264 people
• City population: 28,955
• Population (ZIP): 28,955
• Household income: $66,044
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 6% of renters

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Population outlook (Shelby County) Hauer SSP2

• Today (2025): 47,264 people
• By 2030: 45,935 · -2.8%
• By 2040: 42,786 · -9.5%
• By 2050: 38,981 · -17.5%
• By 2075: 30,225 · -36.1%
• By 2100: 21,273 · -55.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

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Political lean MEDSL · Shelby

• 2024 margin: Solid R (+64.8) · D 17.2% · R 82.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -36.4pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.2 2016: R+60.6 2012: R+46.0 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.62%
• Current HPI: 264.4532
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

Property features AI

Finance

• Other: Lot has building restrictions

Exterior

• Utilities: Public sewerNatural gas connectedSewer connectedSupplied water
• Home design: Manufactured homeResidential propertyBuilt in 1979
• Construction: Aluminum sidingFoundation: Other/None
• Exterior features: DeckHas waterfront accessLakefront

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Laminate flooringNo basement

Price history

-8.6% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $32,000 WRIST
• 2026-04-23 Relisted — WRIST
• 2026-04-19 Pending — WRIST
• 2026-04-08 Listed $35,000 WRIST