7521 Mingo-lewisburg Rd. Rd

North Lewisburg, OH 43060

$465,000F

2 bd · 1.0 ba · 1,386 sqft · Built 1972 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,882/mo
• Mortgage (P&I): −$2,439
• Tax + insurance: −$279
• HOA: −$0
• Vac / Maint / Mgmt: −$605
• Net cashflow: $-440/mo
• Annual: $-5,283/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• 1% rule: 0.62%
• Cash to close: $130,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $465k.
• At list price, monthly cash flow is $-440 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $387k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (38.0% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $288k (38.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#672 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Triad Local (rural): math 61% / reading 61% proficiency, ranked #255 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 4y ago 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 $2,882/mo this rent would consume 56% of the median local household income ($62k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.