2 Carter Ln · Shelby, OH 44875

$65,000

2 bd · 2.0 ba · 884 sqft · Manufactured · 7 Days on market

Built 1995 Fair condition Est $63k · at est.

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Why this score? — see what drove the C+ 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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• ARV discount +5.9/15.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and well-kept 1995 mobile home offering 884 sq. ft. of comfortable living. This 2-bedroom, 2-bath ranch features an open layout with a bright living room and large front window, an eat-in kitchen, and a primary suite with private bath. Outside, enjoy the convenience of a detached garage, paved driveway, and low-maintenance yard. Affordable and move-in ready, this home is a great opportunity for easy living in Shelby.

Key facts

• Open floor plan
• Large front window
• Eat-in kitchen

Tags

• MAIN-FLOOR PRIMARY SUITE
• OPEN FLOOR PLAN
• EAT-IN KITCHEN
• LARGE FRONT WINDOW
• BLACK METAL ROOF

Property features AI

Exterior

• Parking: 1-car garage; Concrete parking surface
• Utilities: Public water; Public sewer
• Home design: Residential mobile home
• Construction: Vinyl siding

Interior

• Kitchen: Refrigerator; Oven
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dryer; Refrigerator; Oven; Washer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($795 rent vs $65k).
• Cap rate 9.6% vs local median 4.7% in Shelby — 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 74/100 on livability (#301 in OH, #4,837 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: commute D+, employment D, amenities F.
• Shelby City (town): math 62% / reading 62% proficiency, ranked #269 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• 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.
• Richland County population projected at -18% 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 $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $65,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.79%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $62,764
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Carter Ln	0.00mi	2/2.0	884 (0%)	9mo	$63,000	$71	92
2 Ford Ln	0.06mi	2/1.0	980 (+11%)	20mo	$52,500	$54	58

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $867
• Equity at exit: $9,692

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $15,467
• Equity at exit: $5,620

Cash invested: $18,200 (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 44875

• Home prices YoY: -26.2%
• Active inventory: 58
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $795 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $179

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 73%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 1/2 2nd St Unit 62 UP Shelby, OH	1.0	1.0	652	$695	$1.07	44d	1	0.24mi

Listing history 6 events

1. 2026-06-12
   statusdays on market $65,000 Pending 7 DOM
2. 2026-06-09
   days on market $65,000 Active 6 DOM
3. 2026-06-08
   days on market $65,000 Active 5 DOM
4. 2026-06-07
   days on market $65,000 Active 4 DOM
5. 2026-06-03
   remarks 490-char remark
6. 2026-06-03
   listed $65,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $9,539
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$763
• − Management: −$763
• − Depreciation: −$1,891
• Taxable income: $1,181
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $1,862/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to update the kitchen and bathrooms, and replace the flooring. The home is in fair condition with a good roof and solid foundation.

Repairs flagged

• Major kitchen cabinets — severely dated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major flooring — carpeted throughout, in poor condition

Value-add opportunities

• Resale update kitchen cabinets and appliances — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers
• Both replace flooring — new flooring will improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
flooring · carpeted throughout, in poor condition	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale update kitchen cabinets and appliances — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers ↑
• Both replace flooring — new flooring will improve both resale and rental value ↑

ⓘ 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: Shelby City
• NCES district ID: 3910009
• Math proficiency: 62% ▼ -12.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $44,197
• Composite: 52.19/100
• National rank: #1609
• State rank: #269 of 656 in OH

Livability — Shelby

• Score: 74/100
• State rank: #301
• US rank: #4837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelby, OH
• County: Richland County · 43,943 people
• City population: 14,144
• Metro: Mansfield, OH
• Population (ZIP): 14,144
• Household income: $61,276
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 284.0

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.08%
• Current HPI: 220.0577
• Rent YoY: —
• Metro: Mansfield, 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

+0.0% since first listed

4 events — show timeline

• 2026-06-03 Listed $65,000 MARMLS
• 2025-09-19 Sold (MLS) $63,000 MARMLS
• 2025-09-15 Pending — MARMLS
• 2025-09-02 Listed $65,000 MARMLS