9188 John Brown Rd Lot 29 · Van Wert, OH 45891

$24,900

2 bd · 1.0 ba · 744 sqft · Manufactured · 81 Days on market

Built 1972 $33/sqft · 17% above area Est $21k · 17% over

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Bowridge Community, where affordable living meets a fantastic location! This charming 1972 Squire mobile home features a cute blue exterior that stands out with classic curb appeal. Step inside to find a comfortable 2-bedroom, 1-bath layout that's perfect for anyone looking to downsize, or start out. The home comes equipped with a refrigerator and range included in the sale, making your move-in that much easier. Window air conditioning keeps things cool during the warmer months. (Window units not included) Outside, you'll enjoy a covered patio area -- ideal for relaxing on a quiet evening -- along with a convenient shed for all your extra storage needs. Lot rent is just $290 per month, which includes trash removal, snow removal of the private drive, and mowing of the common areas -- giving you more time to enjoy life and less time worrying about upkeep. Please note that all residents over the age of 18 are required to pass a background check to live in the community. The real gem here is the location. Bowridge Community is nestled right next to the bike path leading to Camp Clay Aqua Park, making it a dream for outdoor enthusiasts and families alike. Just across the street, you'll find Smiley Park and the Rotary Soccer Fields. Need to run errands? You'll love the quick access to US 224, with shopping, a movie theater, and everyday conveniences just minutes away. Whether you're looking for your first home, a cozy retreat, or a smart investment, don't miss your chance -- schedule a showing today!

Key facts

• Built 1972
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.3% vs local median 4.6% in Van Wert — 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 72/100 on livability (#392 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D+, amenities F, commute F.
• Van Wert City (rural): math 46% / reading 50% proficiency, ranked #476 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Van Wert County population projected at -11% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $2k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $23,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.67% ✓
• Cap rate: 42.29%
• Cash-on-cash: 128.56%
• DSCR: 6.72
• GRM: 1.8

CMA / ARV

• ARV (median comp): $21,368
• List price: $24,900
• Delta: 16.53%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.25×
• Total profit: $43,555
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 15.24×
• Total profit: $99,256
• Equity at exit: $2,153

Cash invested: $6,972 (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 45891

• Home prices YoY: -17.0%
• Active inventory: 46
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $747

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 31%

Sensitivity live

Price	-10% $764	-5% $756	+0% $747	+5% $738	+10% $730
Rent	-10% $655	-5% $701	+0% $747	+5% $793	+10% $839
Rate	-1.0pp $759	-0.5pp $753	base $747	+0.5pp $740	+1.0pp $734

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $24,900 Active 81 DOM
2. 2026-06-21
   days on market $24,900 Active 80 DOM
3. 2026-06-18
   days on market $24,900 Active 78 DOM
4. 2026-06-17
   days on market $24,900 Active 77 DOM
5. 2026-06-16
   days on market $24,900 Active 76 DOM
6. 2026-06-15
   days on market $24,900 Active 75 DOM
7. 2026-06-13
   days on market $24,900 Active 73 DOM
8. 2026-06-12
   days on market $24,900 Active 72 DOM
9. 2026-06-09
   days on market $24,900 Active 69 DOM
10. 2026-06-08
    days on market $24,900 Active 68 DOM
11. 2026-06-08
    days on market $24,900 Active 67 DOM
12. 2026-06-04
    days on market $24,900 Active 63 DOM
13. 2026-06-02
    days on market $24,900 Active 62 DOM
14. 2026-06-01
    days on market $24,900 Active 61 DOM
15. 2026-05-31
    days on market $24,900 Active 60 DOM
16. 2026-05-06
    price $24,900 1534-char remark

    Show marketing remark (1534 chars)

    Welcome to the Bowridge Community, where affordable living meets a fantastic location! This charming 1972 Squire mobile home features a cute blue exterior that stands out with classic curb appeal. Step inside to find a comfortable 2-bedroom, 1-bath layout that's perfect for anyone looking to downsize, or start out. The home comes equipped with a refrigerator and range included in the sale, making your move-in that much easier. Window air conditioning keeps things cool during the warmer months. (Window units not included) Outside, you'll enjoy a covered patio area -- ideal for relaxing on a quiet evening -- along with a convenient shed for all your extra storage needs. Lot rent is just $290 per month, which includes trash removal, snow removal of the private drive, and mowing of the common areas -- giving you more time to enjoy life and less time worrying about upkeep. Please note that all residents over the age of 18 are required to pass a background check to live in the community. The real gem here is the location. Bowridge Community is nestled right next to the bike path leading to Camp Clay Aqua Park, making it a dream for outdoor enthusiasts and families alike. Just across the street, you'll find Smiley Park and the Rotary Soccer Fields. Need to run errands? You'll love the quick access to US 224, with shopping, a movie theater, and everyday conveniences just minutes away. Whether you're looking for your first home, a cozy retreat, or a smart investment, don't miss your chance -- schedule a showing today!

17. 2026-04-01
    listed $27,000 Active 1534-char remark

    Show marketing remark (1534 chars)

    Welcome to the Bowridge Community, where affordable living meets a fantastic location! This charming 1972 Squire mobile home features a cute blue exterior that stands out with classic curb appeal. Step inside to find a comfortable 2-bedroom, 1-bath layout that's perfect for anyone looking to downsize, or start out. The home comes equipped with a refrigerator and range included in the sale, making your move-in that much easier. Window air conditioning keeps things cool during the warmer months. (Window units not included) Outside, you'll enjoy a covered patio area -- ideal for relaxing on a quiet evening -- along with a convenient shed for all your extra storage needs. Lot rent is just $290 per month, which includes trash removal, snow removal of the private drive, and mowing of the common areas -- giving you more time to enjoy life and less time worrying about upkeep. Please note that all residents over the age of 18 are required to pass a background check to live in the community. The real gem here is the location. Bowridge Community is nestled right next to the bike path leading to Camp Clay Aqua Park, making it a dream for outdoor enthusiasts and families alike. Just across the street, you'll find Smiley Park and the Rotary Soccer Fields. Need to run errands? You'll love the quick access to US 224, with shopping, a movie theater, and everyday conveniences just minutes away. Whether you're looking for your first home, a cozy retreat, or a smart investment, don't miss your chance -- schedule a showing today!

18. 2023-11-30
    soldstatus $18,500 Closed 630-char remark

    Show marketing remark (630 chars)

    Check out this affordable housing option. New landscaping, thoroughly cleaned, refrigerator, washer, and dryer stay with the home, and some furniture may stay as well. Brand new blinds, and two window AC units stay as well. Great starter home for anyone. Lot rent is only $260 per month and includes trash, lawn maintenance of the common areas, and snow removal of the street. This home recently had all the windows replaced. Don't miss your chance to own this home so call today to schedule a private tour. Any person 18 years of age or older living in the home full time must pass a background check and be approved by the park.

19. 2023-11-14
    status Pending 630-char remark

    Show marketing remark (630 chars)

    Check out this affordable housing option. New landscaping, thoroughly cleaned, refrigerator, washer, and dryer stay with the home, and some furniture may stay as well. Brand new blinds, and two window AC units stay as well. Great starter home for anyone. Lot rent is only $260 per month and includes trash, lawn maintenance of the common areas, and snow removal of the street. This home recently had all the windows replaced. Don't miss your chance to own this home so call today to schedule a private tour. Any person 18 years of age or older living in the home full time must pass a background check and be approved by the park.

20. 2023-11-02
    price $19,900 630-char remark

    Show marketing remark (630 chars)

    Check out this affordable housing option. New landscaping, thoroughly cleaned, refrigerator, washer, and dryer stay with the home, and some furniture may stay as well. Brand new blinds, and two window AC units stay as well. Great starter home for anyone. Lot rent is only $260 per month and includes trash, lawn maintenance of the common areas, and snow removal of the street. This home recently had all the windows replaced. Don't miss your chance to own this home so call today to schedule a private tour. Any person 18 years of age or older living in the home full time must pass a background check and be approved by the park.

21. 2023-09-07
    listed $24,500 Active 630-char remark

    Show marketing remark (630 chars)

    Check out this affordable housing option. New landscaping, thoroughly cleaned, refrigerator, washer, and dryer stay with the home, and some furniture may stay as well. Brand new blinds, and two window AC units stay as well. Great starter home for anyone. Lot rent is only $260 per month and includes trash, lawn maintenance of the common areas, and snow removal of the street. This home recently had all the windows replaced. Don't miss your chance to own this home so call today to schedule a private tour. Any person 18 years of age or older living in the home full time must pass a background check and be approved by the park.

22. 2023-07-20
    soldstatus $12,500 Closed
23. 2023-07-14
    status Pending
24. 2023-07-10
    price $12,500
25. 2023-06-29
    status Active
26. 2023-06-16
    historical Active Under Contract
27. 2023-05-26
    status Active
28. 2023-04-26
    historical Active Under Contract
29. 2023-04-21
    listed $19,900 Active

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

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 ≥100°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: $13,960
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$724
• Taxable income: $9,109
• Est. tax owed @ 24.0%: −$2,186
• After-tax cash flow: $6,777/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: Van Wert City
• NCES district ID: 3910023
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 50% ▼ -13.00%
• Median HH income: $41,846
• Composite: 40.34/100
• National rank: #3745
• State rank: #476 of 656 in OH

Livability — Van Wert

• Score: 72/100
• State rank: #392
• US rank: #6388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Wert, OH
• County: Van Wert · 34,605 people
• City population: 15,522
• Population (ZIP): 15,522
• Household income: $62,944
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 9.1

Population outlook (Van Wert County) Hauer SSP2

• Today (2025): 28,235 people
• By 2030: 27,793 · -1.6%
• By 2040: 26,650 · -5.6%
• By 2050: 25,251 · -10.6%
• By 2075: 22,247 · -21.2%
• By 2100: 18,559 · -34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Van Wert

• 2024 margin: Solid R (+58.5) · D 20.4% · R 78.9%
• 2008→2024 swing: -31.3pp toward R · 2008: -27.2pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+57.4 2016: R+56.4 2012: R+40.5 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.58%
• Current HPI: 242.1743
• 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

+25.1% since first listed

14 events — show timeline

• 2026-05-06 Price Changed $24,900 WCARE
• 2026-04-01 Listed $27,000 WCARE
• 2023-11-30 Sold (MLS) $18,500 WCARE
• 2023-11-14 Pending — WCARE
• 2023-11-02 Price Changed $19,900 WCARE
• 2023-09-07 Listed $24,500 WCARE
• 2023-07-20 Sold (MLS) $12,500 WCARE
• 2023-07-14 Pending — WCARE
• 2023-07-10 Price Changed $12,500 WCARE
• 2023-06-29 Relisted — WCARE
• 2023-06-16 Contingent — WCARE
• 2023-05-26 Relisted — WCARE
• 2023-04-26 Contingent — WCARE
• 2023-04-21 Listed $19,900 WCARE