9741 Yoder Rd

Orrville, OH 44276

$89,900B

3 bd · 2.0 ba · 1,148 sqft · Built 1997 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $276/mo
• Annual: $3,316/yr
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• 1% rule: 1.18%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#161 in OH, #2,403 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Norwayne Local (rural): math 70% / reading 75% proficiency, ranked #122 of 656 in OH (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Norwayne Elementary School (math 74% / reading 78%, grade A, #253 of 1,584 statewide, top 16%, 578 students, 33% FRL); Norwayne Middle School (math 73% / reading 73%, grade A, #105 of 654 statewide, top 17%, 313 students, 0% FRL); Norwayne High School (math 47% / reading 72%, grade C+, #243 of 781 statewide, top 33%, 409 students, 48% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; solid renter incomes; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $29k; list at $90k implies a 210% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.0% vs local median 3.4% in Orrville — 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.
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.