96 Airstream · West Carrollton, OH 45449

$32,500

2 bd · 2.0 ba · 980 sqft · Manufactured · 77 Days on market

Built 2004 Good condition $33/sqft · 30% above area Est $25k · 30% 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
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly renovated 2 bedroom, 2 bath home in a well maintained 55 an Better Community. This home was built to Northern Insulation standards, I. E. 2 x 6 perimeter walls with 5.6" of insulation in the walls and upgraded insulation in the ceilings and floors. Thermal double pane windows, new roof in 2025, and nice covered porch off of the dining area. Includes a one year American Home Shield Warranty. Must have park approval and pay a monthly lot rent fee of $695.

Key facts

• Covered porch
• Newly renovated
• New roof

Tags

• NEWLY RENOVATED
• WELL MAINTAINED COMMUNITY
• NORTHERN INSULATION STANDARDS
• THERMAL DOUBLE PANE WINDOWS
• NEW ROOF
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $32k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.5% vs local median 4.7% in West Carrollton — 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 65/100 on livability (#712 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• West Carrollton City (suburban): math 34% / reading 46% proficiency, ranked #540 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $225 of loan paydown is wiped out by about $975 of value loss. Plan a longer hold.
• Montgomery County population projected at -10% 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Recommended offer $30,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.54% ✓
• Cap rate: 31.53%
• Cash-on-cash: 90.12%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (median comp): $25,000
• List price: $32,500
• Delta: 30.00%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 90.8%
• Equity multiple: 5.21×
• Total profit: $38,278
• Equity at exit: $4,846

10-year hold

• IRR: 93.7%
• Equity multiple: 10.83×
• Total profit: $89,450
• Equity at exit: $2,810

Cash invested: $9,100 (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 45449

• Active inventory: 82
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,149 high
• Mortgage (P&I): −$170
• Tax est. 1.5%: −$41 /mo · $488/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $683

Break-even live

Break-even rent $284

Max offer price $32,500

Occupancy floor 36%

Sensitivity live

Price	-10% $706	-5% $695	+0% $683	+5% $672	+10% $661
Rent	-10% $593	-5% $638	+0% $683	+5% $729	+10% $774
Rate	-1.0pp $700	-0.5pp $692	base $683	+0.5pp $675	+1.0pp $666

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 N Alex Rd Dayton, OH	2.0	1.0	960	$1,124	$1.17	3d	8	0.41mi
911 S Alex Rd Dayton, OH	1.0	1.0	625	$799	$1.28	3d	5	0.72mi
1644 Villa South Dr Dayton, OH	2.0	1.5	1000	$1,500	$1.50	44d	1	0.78mi
3309 Main St Moraine, OH	1.0	1.0	600	$729	$1.22	44d	1	0.82mi
1735 Mars Hill Dr Dayton, OH	2.0	1.0–2.0	968	$1,162	$1.20	3d	4	0.90mi
1122 Redbluff Dr Unit B Dayton, OH	1.0	1.0	850	$900	$1.06	44d	1	0.98mi
5480 Dovetree Blvd Moraine, OH	1.0–2.0	1.0–2.0	826	$1,645	$1.99	3d	15	0.98mi
1130 Bishop Dr Unit 1130-C Dayton, OH	2.0	1.0	850	$880	$1.04	3d	1	1.01mi
1308 Camp Hill Way Dayton, OH	2.0	2.0	1000	$1,175	$1.18	3d	11	1.09mi
113 W Main St West Carrollton, OH	3.0	1.0	1120	$1,200	$1.07	3d	1	1.11mi
5237 Belle Isle Dr Unit 5237 Dayton, OH	2.0	1.0	960	$1,025	$1.07	44d	1	1.12mi
5295 Belle Isle Dr Dayton, OH	2.0	1.5	856	$950	$1.11	44d	1	1.16mi
30 N Miami Ave Unit 32 B Miami Dayton, OH	1.0	1.0	540	$775	$1.44	44d	1	1.21mi
2621 Nyack Ln Dayton, OH	3.0	1.0	1080	$1,500	$1.39	15d	1	1.22mi
2910 Knoll Ridge Dr Dayton, OH	1.0–3.0	1.0–2.0	680	$974	$1.43	3d	1	1.28mi
5359 Dunmore Dr Dayton, OH	2.0	1.0	808	$975	$1.21	15d	1	1.31mi
5351 Dunmore Dr Dayton, OH	1.0	1.0	625	$825	$1.32	24d	1	1.32mi
2413 Blanchard Ave Moraine, OH	1.0	1.0	700	$800	$1.14	3d	1	1.47mi

Listing history 6 events

1. 2026-06-03
   days on market $32,500 Active 77 DOM
2. 2026-06-02
   days on market $32,500 Active 76 DOM
3. 2026-06-01
   days on market $32,500 Active 75 DOM
4. 2026-05-31
   days on market $32,500 Active 74 DOM
5. 2026-05-31
   days on market $32,500 Active 73 DOM
6. 2026-03-18
   listed $32,500 Active 468-char remark

   Show marketing remark (468 chars)

   Newly renovated 2 bedroom, 2 bath home in a well maintained 55 an Better Community. This home was built to Northern Insulation standards, I. E. 2 x 6 perimeter walls with 5.6" of insulation in the walls and upgraded insulation in the ceilings and floors. Thermal double pane windows, new roof in 2025, and nice covered porch off of the dining area. Includes a one year American Home Shield Warranty. Must have park approval and pay a monthly lot rent fee of $695.

ⓘ 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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,793
• − Mortgage interest: −$1,821
• − Property taxes: −$488
• − Insurance: −$162
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$945
• Taxable income: $8,170
• Est. tax owed @ 24.0%: −$1,961
• After-tax cash flow: $6,240/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 · 8 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bath manufactured home is in good condition with recent renovations, including a new roof and updated flooring. It's located in a well-maintained community with a covered porch, making it a good investment opportunity.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Resale Replace countertops — Modernizes kitchen and adds value
• Resale Install new showerhead and faucet — Improves bathroom functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Resale Replace countertops — Modernizes kitchen and adds value ↑
• Resale Install new showerhead and faucet — Improves bathroom functionality and aesthetics ↑

ⓘ 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: West Carrollton City
• NCES district ID: 3904505
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $42,209
• Composite: 33.71/100
• National rank: #5380
• State rank: #540 of 656 in OH

Livability — West Carrollton

• Score: 65/100
• State rank: #712
• US rank: #12835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Carrollton, OH
• County: Montgomery County · 459,541 people
• City population: 19,066
• Metro: Dayton-Kettering, OH
• Population (ZIP): 19,066
• Household income: $63,800
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 745.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 523,241 people
• By 2030: 514,948 · -1.6%
• By 2040: 493,378 · -5.7%
• By 2050: 469,639 · -10.2%
• By 2075: 418,360 · -20.0%
• By 2100: 353,315 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Arabic 3% Chinese 2%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 49.8% · R 49.3%
• 2008→2024 swing: -5.8pp toward R · 2008: 6.2pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+2.2 2016: R+1.2 2012: D+3.1 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.64%
• Current HPI: 248.1785
• Rent YoY: —
• Metro: Dayton-Kettering, OH
• 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

• 2026-03-18 Listed $32,500 Dayton MLS