54 Thomas Blvd NW

Canal Fulton, OH 44647

$25,000D+

2 bd · 2.0 ba · 900 sqft · Built 1979 · Manufactured · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,389/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$502
• Vac / Maint / Mgmt: −$292
• Net cashflow: $422/mo
• Annual: $5,069/yr
• Cap rate: 26.57%
• Cash-on-cash: 72.42%
• DSCR: 4.22
• 1% rule: 5.56%
• Cash to close: $7,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $25k.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#350 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Tuslaw Local (rural): math 78% / reading 73% proficiency, ranked #88 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: HOA is 36% of rent.
• Market conditions: 102 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.