Mansion EVB22 Evergreen Village Plan

Mantua, OH 44255

$114,000C+

3 bd · 2.0 ba · 1,456 sqft · Built — · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,287/mo
• Mortgage (P&I): −$598
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $229/mo
• Annual: $2,743/yr
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• 1% rule: 1.13%
• Cash to close: $31,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $114k. Condition is rated good.
• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#398 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: employment D+, amenities F, commute F.
• Crestwood Local (rural): math 51% / reading 64% proficiency, ranked #313 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 22 active listings in the ZIP; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.