63 N Maple St

New London, OH 44851

$64,900B-

4 bd · 2.0 ba · 1,232 sqft · Built 1993 · Manufactured · Pending · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $976/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $332/mo
• Annual: $3,981/yr
• Cap rate: 12.43%
• Cash-on-cash: 21.91%
• DSCR: 1.97
• 1% rule: 1.50%
• Cash to close: $18,172

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($976 rent vs $65k).
• It's been on market 113 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#797 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• New London Local (rural): math 47% / reading 51% proficiency, ranked #452 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 40 units permitted in Huron County in 2024 (0 in 5+ unit buildings).
• Huron County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.