8312 Ohio 366 #17 · Russells Point, OH 43348

$24,900

2 bd · 1.0 ba · 576 sqft · Manufactured · 38 Days on market

Built 1972 Good condition $43/sqft · 35% above area Est $18k · 35% over

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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 +4.0/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCTION, seller motivated! Fully updated mobile home just steps from the open water and available annual boat slips for rent! Cottonwood Estates provides for full time residence or is a great vacation getaway. This mobile has had a complete renovation in 2024 (all new) and is move in ready! Monthly lot fee of $540 covers water/sewer/trash, and there's a bonus lot beside you that is potentially available to rent annually for either additional parking or even a shed for storage. Come see this one today!

Key facts

• Bonus lot
• Open water
• Annual boat slips

Tags

• OPEN WATER
• ANNUAL BOAT SLIPS
• COMPLETE RENOVATION
• MOVE IN READY
• BONUS LOT
• ADDITIONAL PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($804 rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 2.7% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: 49 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $4k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $24,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.23% ✓
• Cap rate: 28.61%
• Cash-on-cash: 79.70%
• DSCR: 4.55
• GRM: 2.6

CMA / ARV

• ARV (median comp): $18,500
• List price: $24,900
• Delta: 34.59%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8312 Ohio 366 #17	0.00mi	2/1.0	576 (0%)	1mo	$23,400	$41	99
8312 Ohio 366 #46	0.04mi	2/1.0	576 (0%)	3mo	$18,500	$32	96
8312 OH-366 #25	0.00mi	2/1.0	567 (-2%)	3mo	$11,000	$19	95
8312 State Route 366 #44	0.00mi	2/1.0	576 (0%)	22mo	$17,500	$30	82
8312 Ohio 366 #2	0.04mi	2/1.0	600 (+4%)	16mo	$39,000	$65	78

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: 79.9%
• Equity multiple: 4.65×
• Total profit: $25,470
• Equity at exit: $3,713

10-year hold

• IRR: 83.3%
• Equity multiple: 9.64×
• Total profit: $60,204
• Equity at exit: $2,153

Cash invested: $6,972 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $804 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $463

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 37%

Sensitivity live

Price	-10% $480	-5% $472	+0% $463	+5% $454	+10% $446
Rent	-10% $400	-5% $431	+0% $463	+5% $495	+10% $527
Rate	-1.0pp $476	-0.5pp $469	base $463	+0.5pp $457	+1.0pp $450

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-12
   status Pending 514-char remark

   Show marketing remark (514 chars)

   PRICE REDUCTION, seller motivated! Fully updated mobile home just steps from the open water and available annual boat slips for rent! Cottonwood Estates provides for full time residence or is a great vacation getaway. This mobile has had a complete renovation in 2024 (all new) and is move in ready! Monthly lot fee of $540 covers water/sewer/trash, and there's a bonus lot beside you that is potentially available to rent annually for either additional parking or even a shed for storage. Come see this one today!

2. 2026-04-23
   price $24,900 514-char remark

   Show marketing remark (514 chars)

   PRICE REDUCTION, seller motivated! Fully updated mobile home just steps from the open water and available annual boat slips for rent! Cottonwood Estates provides for full time residence or is a great vacation getaway. This mobile has had a complete renovation in 2024 (all new) and is move in ready! Monthly lot fee of $540 covers water/sewer/trash, and there's a bonus lot beside you that is potentially available to rent annually for either additional parking or even a shed for storage. Come see this one today!

3. 2026-04-03
   listed $28,900 Active 514-char remark

   Show marketing remark (514 chars)

   PRICE REDUCTION, seller motivated! Fully updated mobile home just steps from the open water and available annual boat slips for rent! Cottonwood Estates provides for full time residence or is a great vacation getaway. This mobile has had a complete renovation in 2024 (all new) and is move in ready! Monthly lot fee of $540 covers water/sewer/trash, and there's a bonus lot beside you that is potentially available to rent annually for either additional parking or even a shed for storage. Come see this one today!

4. 2026-02-25
   historical
5. 2026-02-12
   price $29,900
6. 2026-01-03
   listed $34,500 Active
7. 2025-10-21
   historical
8. 2025-09-08
   price $30,000
9. 2025-07-25
   price $37,500
10. 2025-06-10
    price $39,500
11. 2025-04-29
    listed $41,000 Active
12. 2025-01-15
    soldstatus $36,000 Closed
13. 2025-01-08
    status Pending
14. 2024-11-07
    price $39,900
15. 2024-10-05
    listed $42,000 Active
16. 2023-09-28
    historical
17. 2023-09-25
    status Active
18. 2023-09-18
    historical
19. 2023-08-16
    listed $10,000 Active
20. 2022-07-08
    soldstatus $6,500 Closed
21. 2022-06-29
    status Pending
22. 2022-06-26
    price $8,000
23. 2022-06-06
    status Active
24. 2022-05-26
    status Pending
25. 2022-04-27
    listed $12,000 Active

ⓘ 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 · 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: $9,648
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$772
• − Management: −$772
• − Depreciation: −$724
• Taxable income: $5,487
• Est. tax owed @ 24.0%: −$1,317
• After-tax cash flow: $4,240/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 · 11 photos

Good 80/100 Cosmetic rehab

This fully renovated mobile home is move-in ready and located in a prime location with lakefront access. It offers a good condition with minimal maintenance required.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and resale value
• Both Replace the kitchen countertops — Improves functionality and resale value
• Both Install new flooring in the bathrooms — Enhances aesthetics and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and resale value ↑
• Both Replace the kitchen countertops — Improves functionality and resale value ↑
• Both Install new flooring in the bathrooms — Enhances aesthetics and resale 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 — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

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 (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

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: ▼ -108.07%
• Current HPI: 261.3567
• 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

+107.5% since first listed

25 events — show timeline

• 2026-05-12 Pending — WRIST
• 2026-04-23 Price Changed $24,900 WRIST
• 2026-04-03 Listed $28,900 WRIST
• 2026-02-25 Listing Removed — WRIST
• 2026-02-12 Price Changed $29,900 WRIST
• 2026-01-03 Listed $34,500 WRIST
• 2025-10-21 Listing Removed — WRIST
• 2025-09-08 Price Changed $30,000 WRIST
• 2025-07-25 Price Changed $37,500 WRIST
• 2025-06-10 Price Changed $39,500 WRIST
• 2025-04-29 Listed $41,000 WRIST
• 2025-01-15 Sold (MLS) $36,000 WRIST
• 2025-01-08 Pending — WRIST
• 2024-11-07 Price Changed $39,900 WRIST
• 2024-10-05 Listed $42,000 WRIST
• 2023-09-28 Listing Removed — WRIST
• 2023-09-25 Relisted — WRIST
• 2023-09-18 Listing Removed — WRIST
• 2023-08-16 Listed $10,000 WRIST
• 2022-07-08 Sold (MLS) $6,500 WRIST
• 2022-06-29 Pending — WRIST
• 2022-06-26 Price Changed $8,000 WRIST
• 2022-06-06 Relisted — WRIST
• 2022-05-26 Pending — WRIST
• 2022-04-27 Listed $12,000 WRIST