29317 U. S. Rt. 50

Chillicothe, OH 45601

$69,900B

2 bd · 1.0 ba · 840 sqft · Built 2024 · Manufactured · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,117/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $400/mo
• Annual: $4,796/yr
• Cap rate: 13.15%
• Cash-on-cash: 24.50%
• DSCR: 2.09
• 1% rule: 1.60%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 106 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Southeastern Local (rural): math 57% / reading 63% proficiency, ranked #294 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southeastern Middle School (math 57% / reading 65%, grade B+, #252 of 654 statewide, top 39%, 297 students, 99% FRL); Southeastern High School (math 37% / reading 57%, grade D-, #435 of 781 statewide, top 59%, 263 students, 0% FRL) — zoned schools average 50% FRL vs 73% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 178 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $9k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $70k implies a 566% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.2% vs local median 4.2% in Chillicothe — 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.

Questions for listing agent

• It's been on market 106 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.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.