CLAYTON 20 Spreading Oaks Village Plan · Athens, OH 45701

$49,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured · 189 Days on market

Good condition

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready with New Roof - Paint - Flooring

Key facts

• Flooring
• Paint
• New roof

Tags

• NEW ROOF
• PAINT
• FLOORING

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $49k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.4% vs local median 2.8% in Athens — 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 86/100 on livability (#37 in OH, #350 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment F.
• Alexander Local (rural): math 44% / reading 57% proficiency, ranked #440 of 656 in OH (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 2.26% ✓
• Cap rate: 19.43%
• Cash-on-cash: 46.92%
• DSCR: 3.09
• GRM: 3.7

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: 44.3%
• Equity multiple: 2.91×
• Total profit: $26,241
• Equity at exit: $7,306

10-year hold

• IRR: 50.2%
• Equity multiple: 5.88×
• Total profit: $66,910
• Equity at exit: $4,237

Cash invested: $13,720 (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 45701

• Active inventory: 112
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $536

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 47%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7140 Selby Rd Athens, OH	3.0	2.0	1120	$1,000	$0.89	43d	1	0.02mi

Listing history 17 events

1. 2026-06-19
   days on market $49,000 Active 189 DOM
2. 2026-06-18
   days on market $49,000 Active 188 DOM
3. 2026-06-17
   days on market $49,000 Active 187 DOM
4. 2026-06-16
   days on market $49,000 Active 186 DOM
5. 2026-06-15
   days on market $49,000 Active 185 DOM
6. 2026-06-14
   days on market $49,000 Active 183 DOM
7. 2026-06-12
   days on market $49,000 Active 182 DOM
8. 2026-06-09
   days on market $49,000 Active 179 DOM
9. 2026-06-08
   days on market $49,000 Active 178 DOM
10. 2026-06-07
    days on market $49,000 Active 177 DOM
11. 2026-06-05
    days on market $49,000 Active 174 DOM
12. 2026-06-03
    days on market $49,000 Active 173 DOM
13. 2026-06-02
    days on market $49,000 Active 172 DOM
14. 2026-06-01
    days on market $49,000 Active 171 DOM
15. 2026-05-31
    days on market $49,000 Active 170 DOM
16. 2026-05-30
    days on market $49,000 Active 169 DOM
17. 2025-12-12
    listed $49,000 Active 46-char remark

    Show marketing remark (46 chars)

    Move in ready with New Roof - Paint - Flooring

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,292
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$1,425
• Taxable income: $6,015
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $4,993/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 · 6 photos

Good 80/100 Cosmetic rehab

This Clayton 20 Spreading Oaks Village Plan is move-in ready with a new roof, paint, and flooring, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace ceiling fans — Modern ceiling fans improve air circulation and add a contemporary touch.
• Both Install smart home devices — Smart home devices can increase home value and appeal to tech-savvy buyers/renters.
• Both Add outdoor lighting — Outdoor lighting enhances safety and curb appeal, especially in the evening.
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort, attracting eco-conscious buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace ceiling fans — Modern ceiling fans improve air circulation and add a contemporary touch. ↑
• Both Install smart home devices — Smart home devices can increase home value and appeal to tech-savvy buyers/renters. ↑
• Both Add outdoor lighting — Outdoor lighting enhances safety and curb appeal, especially in the evening. ↑
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort, attracting eco-conscious buyers/renters. ↑

ⓘ 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: Alexander Local
• NCES district ID: 3904590
• Math proficiency: 44% ▼ -26.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $42,034
• Composite: 42.39/100
• National rank: #3238
• State rank: #440 of 656 in OH

Livability — Athens

• Score: 86/100
• State rank: #37
• US rank: #350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Athens County · 33,329 people
• City population: 33,329
• Metro: Athens, OH
• Population (ZIP): 33,329
• Household income: $53,075
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2145.0

Population outlook (Athens County) Hauer SSP2

• Today (2025): 71,867 people
• By 2030: 73,556 · +2.4%
• By 2040: 74,528 · +3.7%
• By 2050: 74,947 · +4.3%
• By 2075: 77,996 · +8.5%
• By 2100: 81,619 · +13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 2%
• Foreign-born: 6% · China, Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Arabic 1% Chinese 1%

Political lean MEDSL · Athens

• 2024 margin: D (+10.8) · D 54.9% · R 44.2%
• 2008→2024 swing: -24.5pp toward R · 2008: 35.3pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.0 2016: D+16.9 2012: D+35.0 2008: D+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -157.24%
• Current HPI: 181.6919
• Rent YoY: —
• Metro: Athens, 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

• 2025-12-12 Listed $49,000 Zillow