56 E Main St #9 · Wakeman, OH 44889

$14,900

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 23 Days on market

Built 1977

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in the heart of Wakeman! This mobile home located at 56 E Main St, Lot 9, Wakeman, OH 44889 is priced to move and offers a great option for anyone looking for budget-friendly living. The home does need a little bit of work, and the purchaser will be responsible for finishing those items, but it provides a solid opportunity for a buyer willing to put in some finishing touches. Conveniently located with small-town charm, this property could be a great fit for a first-time buyer, downsizer, or someone looking for an affordable alternative to renting. Please note: all potential purchasers must be approved by the mobile home park prior to completion of the sale.

Key facts

• Built 1977
• Listed 22 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Residential mobile home
• Construction: Aluminum siding
• Exterior features: Metal roof

Interior

• Kitchen: Includes dishwasher, range, and refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Dishwasher, Range, Refrigerator; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $15k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($932 rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#548 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.
• Western Reserve Local (rural): math 50% / reading 58% proficiency, ranked #378 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 21 active listings in the ZIP; solid renter incomes; 40 units permitted in Huron County in 2024 (0 in 5+ unit buildings).
• This rent is only 13% of the median local income ($87k/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 $103 of loan paydown is wiped out by about $447 of value loss. Plan a longer hold.
• Huron County population projected at -22% 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.

Recommended offer $14,676 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.25% ✓
• Cap rate: 57.29%
• Cash-on-cash: 182.13%
• DSCR: 9.10
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.09×
• Total profit: $37,929
• Equity at exit: $2,222

10-year hold

• IRR: —
• Equity multiple: 21.38×
• Total profit: $85,015
• Equity at exit: $1,288

Cash invested: $4,172 (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 44889

• Home prices YoY: -16.0%
• Active inventory: 21
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $932 medium
• Mortgage (P&I): −$78
• Tax est. 1.5%: −$19 /mo · $224/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $633

Break-even live

Break-even rent $130

Max offer price $14,900

Occupancy floor 27%

Sensitivity live

Price	-10% $644	-5% $638	+0% $633	+5% $628	+10% $623
Rent	-10% $560	-5% $596	+0% $633	+5% $670	+10% $707
Rate	-1.0pp $641	-0.5pp $637	base $633	+0.5pp $629	+1.0pp $625

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: $3,725
• Closing costs: $447
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $14,900 Active 23 DOM
2. 2026-06-18
   price $14,900 Active 22 DOM
3. 2026-06-18
   days on market $17,400 Active 22 DOM
4. 2026-06-17
   days on market $17,400 Active 21 DOM
5. 2026-06-16
   days on market $17,400 Active 20 DOM
6. 2026-06-15
   days on market $17,400 Active 19 DOM
7. 2026-06-14
   days on market $17,400 Active 17 DOM
8. 2026-06-12
   days on market $17,400 Active 16 DOM
9. 2026-06-09
   days on market $17,400 Active 13 DOM
10. 2026-06-09
    price $17,400 Active 12 DOM
11. 2026-06-08
    days on market $19,900 Active 12 DOM
12. 2026-06-07
    days on market $19,900 Active 11 DOM
13. 2026-06-05
    days on market $19,900 Active 9 DOM
14. 2026-06-02
    days on market $19,900 Active 6 DOM
15. 2026-06-01
    days on market $19,900 Active 5 DOM
16. 2026-05-31
    days on market $19,900 Active 4 DOM
17. 2026-05-31
    days on market $19,900 Active 3 DOM
18. 2026-05-27
    listed $19,900 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,182
• − Mortgage interest: −$835
• − Property taxes: −$224
• − Insurance: −$74
• − Repairs & maintenance: −$895
• − Management: −$895
• − Depreciation: −$433
• Taxable income: $7,827
• Est. tax owed @ 24.0%: −$1,879
• After-tax cash flow: $5,720/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.

Schools (NCES district)

• District: Western Reserve Local
• NCES district ID: 3904774
• Math proficiency: 50% ▼ -13.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $53,886
• Composite: 46.45/100
• National rank: #2447
• State rank: #378 of 656 in OH

Livability — Wakeman

• Score: 68/100
• State rank: #548
• US rank: #9313

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wakeman, OH
• County: Huron · 56,496 people
• Population (ZIP): 7,251
• Household income: $86,852
• Rent vs Own: 16.3% rent · 83.7% own

Population outlook (Huron County) Hauer SSP2

• Today (2025): 55,572 people
• By 2030: 53,514 · -3.7%
• By 2040: 48,770 · -12.2%
• By 2050: 43,611 · -21.5%
• By 2075: 32,349 · -41.8%
• By 2100: 21,849 · -60.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Italian 5% Romanian 4% Slovak 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Huron

• 2024 margin: Solid R (+44.0) · D 27.6% · R 71.6%
• 2008→2024 swing: -40.9pp toward R · 2008: -3.1pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.2 2016: R+36.4 2012: R+8.9 2008: R+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.88%
• Current HPI: 225.6064
• 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

1 event — show timeline

• 2026-05-27 Listed $19,900 FAOR