9246 Elm Dr · Chippewa Park, OH 43331

$75,000

1 bd · 1.0 ba · 460 sqft · Manufactured · 276 Days on market

Built 1960 1,742 sqft lot $163/sqft · 47% below area Est $142k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable opportunity at Indian Lake! This older mobile home sits on a small lot with water access, offering potential for those looking to renovate or rebuild. The home itself is in poor condition and will require significant updates, but the location provides a chance to enjoy the lake lifestyle at a budget-friendly price. Perfect project for investors or anyone wanting a getaway spot near the water.

Key facts

• 1,742 sq ft lot
• Built 1960
• Listed 275 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 5.5% in Chippewa Park — 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 49/100 on livability (#1,173 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 276 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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.
• Current owner paid $26k; list at $75k implies a 188% gain — meaningful room to come down on a strong offer.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 276 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.01%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (median comp): $141,891
• List price: $75,000
• Delta: -47.14%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11377 Township Road 266 #77	0.16mi	1/1.0	432 (-6%)	8mo	$57,000	$132	76
11377 Township Road 266 #61	0.16mi	1/1.0	432 (-6%)	9mo	$56,000	$130	75
11377 Township Road 266 #15	0.16mi	1/1.0	432 (-6%)	9mo	$45,000	$104	75
11377 Township Road 266 #28	0.16mi	1/1.0	396 (-14%)	2mo	$77,500	$196	68
11377 Township Road 266 #3	0.16mi	1/1.0	396 (-14%)	7mo	$45,500	$115	63
11377 Township Rd 266 #66	0.16mi	2/1.0 (+1)	396 (-14%)	2mo	$75,000	$189	62
11377 Township Road 266 #30	0.16mi	2/1.0 (+1)	396 (-14%)	5mo	$40,000	$101	60
11377 Township Road 266 #75	0.16mi	2/1.0 (+1)	396 (-14%)	7mo	$79,000	$199	58
11377 Township Road 266 #70	0.16mi	2/1.0 (+1)	396 (-14%)	9mo	$97,500	$246	57
11377 Township Road 266 #98	0.21mi	2/1.0 (+1)	396 (-14%)	7mo	$102,000	$258	56
11377 Township Road 266 #72	0.16mi	2/1.0 (+1)	396 (-14%)	10mo	$99,500	$251	56
11377 Township Road 266 #57	0.21mi	2/1.0 (+1)	396 (-14%)	8mo	$45,000	$114	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 1.85×
• Total profit: $17,929
• Equity at exit: $11,183

10-year hold

• IRR: 29.1%
• Equity multiple: 3.58×
• Total profit: $54,276
• Equity at exit: $6,485

Cash invested: $21,000 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 112
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$23 /mo · $276/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $473

Break-even live

Break-even rent $567

Max offer price $75,000

Occupancy floor 54%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 276 DOM
2. 2026-06-17
   days on market $75,000 Active 275 DOM
3. 2026-06-16
   days on market $75,000 Active 274 DOM
4. 2026-06-15
   days on market $75,000 Active 273 DOM
5. 2026-06-13
   days on market $75,000 Active 271 DOM
6. 2026-06-12
   days on market $75,000 Active 270 DOM
7. 2026-06-09
   days on market $75,000 Active 267 DOM
8. 2026-06-08
   days on market $75,000 Active 266 DOM
9. 2026-06-08
   days on market $75,000 Active 265 DOM
10. 2026-06-07
    days on market $75,000 Active 264 DOM
11. 2026-06-04
    days on market $75,000 Active 261 DOM
12. 2026-06-02
    days on market $75,000 Active 260 DOM
13. 2026-06-01
    days on market $75,000 Active 259 DOM
14. 2026-05-31
    days on market $75,000 Active 258 DOM
15. 2025-09-12
    listed $75,000 Active 408-char remark

    Show marketing remark (408 chars)

    Affordable opportunity at Indian Lake! This older mobile home sits on a small lot with water access, offering potential for those looking to renovate or rebuild. The home itself is in poor condition and will require significant updates, but the location provides a chance to enjoy the lake lifestyle at a budget-friendly price. Perfect project for investors or anyone wanting a getaway spot near the water.

16. 2012-04-27
    historical
17. 2011-12-01
    soldstatus $26,000
18. 2010-10-26
    listed $32,900
19. 2010-10-26
    listed $32,900
20. 2006-04-01
    historical
21. 2005-09-10
    listed $35,000
22. 1998-08-21
    soldstatus $8,042

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $276 · $23/mo
• Projected year-2 tax: $723 · $60/mo
• Expected delta: +$447/yr (+$37/mo · 161.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,979
• − Mortgage interest: −$4,201
• − Property taxes: −$276
• − Insurance: −$375
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$2,182
• Taxable income: $4,708
• Est. tax owed @ 24.0%: −$1,130
• After-tax cash flow: $4,543/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.

Schools (NCES district)

• District: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Chippewa Park

• Score: 49/100
• State rank: #1173
• US rank: #25758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• Rent YoY: —
• Metro: —
• 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

+832.6% since first listed

8 events — show timeline

• 2025-09-12 Listed $75,000 WRIST
• 2012-04-27 Listing Removed — CBRMLS
• 2011-12-01 Sold (MLS) $26,000 WRIST
• 2010-10-26 Listed $32,900 WRIST
• 2010-10-26 Listed $32,900 CBRMLS
• 2006-04-01 Listing Removed — CBRMLS
• 2005-09-10 Listed $35,000 CBRMLS
• 1998-08-21 Sold (Public Records) $8,042 Public Records

Property tax history

+2.0%/yr

Latest (2025): $276 · -5.1% YoY. Source: county tax records.