3350 S Dixie Hwy #45

Fort Shawnee, OH 45804

$87,900B

3 bd · 2.0 ba · 1,178 sqft · Built 2024 · Manufactured · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,346/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $456/mo
• Annual: $5,471/yr
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• 1% rule: 1.53%
• Cash to close: $24,612

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $88k. Condition is rated good.
• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• It's been on market 40 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#344 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Shawnee Local (suburban): math 71% / reading 77% proficiency, ranked #100 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Elmwood Elementary School (516 students, 30% FRL); Shawnee Middle School (math 67% / reading 77%, grade A, #115 of 654 statewide, top 18%, 727 students, 30% FRL); Shawnee High School (math 67% / reading 82%, grade B+, #69 of 781 statewide, top 10%, 707 students, 19% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• Allen County population projected at -14% 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• This rent runs 38% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.