2288 W High St NE Lot 40 · Hanover, OH 43055

$77,800

3 bd · 2.0 ba · 1,056 sqft · SingleFamily · 28 Days on market

Built 2025 Good condition $500/mo HOA · 35% of rent

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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 +19.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Horizon, a 3 bed 2 bath beautifully maintained 2025 manufactured home located in a desirable mobile home community in Newark, Ohio. This modern residence features all electric, energy-efficient smart appliances and a thoughtfully designed layout that combines comfort, style, and functionality.

Key facts

• Built 2025
• Listed 28 days

Tags

• THOUGHTFULLY DESIGNED LAYOUT

Property features AI

Finance

• HOA & community: Homeowners association present; Association fee $500 per month; Association fee includes water, sewer and trash

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Well water
• Home design: Single-story mobile/manufactured home; Other residential without deeded land
• Construction: Built in 2025; Other foundation type
• Exterior features: Mobile home dimensions roughly 66' x 16'; No additional parcels

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Insulated windows throughout; Living area approximately 1,056

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $82 ($985/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#402 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools C-, amenities F, commute F.
• Licking Valley Local (rural): math 56% / reading 54% proficiency, ranked #360 of 656 in OH (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $538 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $76,633 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.82% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $189,024
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2288 W High St NE Lot 12	0.12mi	3/2.0	1,056 (0%)	13mo	$77,800	$74	84
2288 W High St Lot 38	0.04mi	3/2.0	935 (-12%)	1mo	$38,000	$41	78
2288 High St Lot 8	0.12mi	3/2.0	1,061 (+0%)	22mo	$62,500	$59	76
232 Darla Dr	0.30mi	3/1.5	1,032 (-2%)	21mo	$249,000	$241	63
2850 E High St	0.61mi	3/1.0	1,065 (+1%)	5mo	$190,000	$178	62
1603 W High St NE	0.68mi	3/2.0	1,162 (+10%)	1mo	$349,900	$301	51
296 Sunset Dr NE	0.72mi	3/2.0	1,144 (+8%)	15mo	$310,000	$271	40
841 N N Main St NE	0.57mi	3/1.0	964 (-9%)	22mo	$173,000	$179	37
1549 W High St NE	0.74mi	3/1.0	1,188 (+12%)	16mo	$260,000	$219	27

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-8,980
• Equity at exit: $11,600

10-year hold

• IRR: -5.8%
• Equity multiple: 0.66×
• Total profit: $-7,450
• Equity at exit: $6,727

Cash invested: $21,784 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,417 medium
• Mortgage (P&I): −$408
• Tax est. 1.5%: −$97 /mo · $1,167/yr
• Insurance: −$32
• HOA: −$500
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $82

Break-even live

Break-even rent $1,313

Max offer price $77,800

Occupancy floor 89%

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: $19,450
• Closing costs: $2,334
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $500 · $6,000/yr
• Likely covers: electric

Listing history 15 events

1. 2026-06-18
   days on market $77,800 Active 28 DOM
2. 2026-06-17
   days on market $77,800 Active 27 DOM
3. 2026-06-16
   days on market $77,800 Active 26 DOM
4. 2026-06-15
   days on market $77,800 Active 25 DOM
5. 2026-06-13
   days on market $77,800 Active 23 DOM
6. 2026-06-13
   days on market $77,800 Active 22 DOM
7. 2026-06-09
   days on market $77,800 Active 19 DOM
8. 2026-06-08
   days on market $77,800 Active 18 DOM
9. 2026-06-07
   days on market $77,800 Active 17 DOM
10. 2026-06-05
    days on market $77,800 Active 14 DOM
11. 2026-06-03
    days on market $77,800 Active 13 DOM
12. 2026-06-02
    days on market $77,800 Active 12 DOM
13. 2026-06-01
    days on market $77,800 Active 11 DOM
14. 2026-05-31
    days on market $77,800 Active 10 DOM
15. 2026-05-21
    listed $77,800 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,008
• − Mortgage interest: −$4,358
• − Property taxes: −$1,167
• − Insurance: −$389
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − HOA: −$6,000
• − Depreciation: −$2,263
• Taxable income: $110
• Est. tax owed @ 24.0%: −$26
• After-tax cash flow: $958/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 · 30 photos

Good 80/100 Cosmetic rehab

This modern manufactured home in a desirable mobile home community is in good condition with minimal repairs needed. It offers a good balance of style and functionality, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the worn-out entryway mat — Improves first impression and cleanliness
• Both Add a small outdoor rug — Enhances curb appeal and comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the worn-out entryway mat — Improves first impression and cleanliness ↑
• Both Add a small outdoor rug — Enhances curb appeal and comfort ↑

ⓘ 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: Licking Valley Local
• NCES district ID: 3904801
• Math proficiency: 56% ▼ -5.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $52,968
• Composite: 47.23/100
• National rank: #2315
• State rank: #360 of 656 in OH

Livability — Hanover

• Score: 71/100
• State rank: #402
• US rank: #6627

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanover, OH
• County: Licking County · 109,194 people
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, 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

1 event — show timeline

• 2026-05-21 Listed $77,800 CBRMLS