4711 Walnut Rd Lot J7 · Buckeye Lake, OH 43008

$88,000

3 bd · 2.0 ba · 1,216 sqft · Other · 79 Days on market

Built 2022 Good condition $72/sqft · 50% below area Est $175k · 50% under $495/mo HOA · 25% of rent ↓ 10% since listing

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Why this score? — see what drove the A 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
• Appreciation +7.1/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Welcome to LAKE LIFE!! Move to the Lake in the most cost effective way. This home is just 4 years new built in 2022, in good shape offering 1216 Sq Ft. Wide Open Concept Living Space with Vinyl Plank Flooring Throughout. This Claremont built by Clayton Manufactured Home with split bedroom floor plan offers 3 Bedrooms, 2 Full Baths and Laundry. Kitchen with 42 inch cabinets and a big Island for additional eat space. Plenty of room for a large dining table. Good sized Owners suite with walk-in closet, large Bath with shower and soaking tub. New 10 X 12 Amish Built Shed with loft storage on each end, and a Large Side Yard are part of what this home has to offer. Bring your Vision of what a move out deep cleaning will offer. Schedule your showing today. Buyers must be approved by park management. See Agent to Agent Remarks.

Key facts

• Large kitchen
• 42 inch cabinets
• Vinyl plank flooring

Tags

• WIDE OPEN CONCEPT LIVING SPACE
• VINYL PLANK FLOORING
• CLAREMONT BUILT BY CLAYTON
• SPLIT BEDROOM FLOOR PLAN
• LARGE KITCHEN
• 42 INCH CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $88k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $83k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 1.1% in Buckeye Lake — 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 66/100 on livability (#671 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Lakewood Local (rural): math 44% / reading 49% proficiency, ranked #481 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($608 loan paydown + $4k appreciation (4.1% local appreciation)).
• At projected returns (4.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.27% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.22%
• DSCR: 2.03
• GRM: 3.7

CMA / ARV

• ARV (median comp): $174,657
• List price: $88,000
• Delta: -49.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 2.89×
• Total profit: $46,615
• Equity at exit: $45,216

10-year hold

• IRR: 31.1%
• Equity multiple: 5.77×
• Total profit: $117,604
• Equity at exit: $74,436

Cash invested: $24,640 (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 43008

• Home prices YoY: 1.4%
• Active inventory: 31
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$495
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $477

Break-even live

Break-even rent $1,396

Max offer price $88,000

Occupancy floor 71%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5118 Walnut Rd Apt B Buckeye Lake, OH	2.0	2.0	1040	$2,000	$1.92	43d	1	0.41mi

HOA detail

• Monthly dues: $495 · $5,940/yr

Listing history 16 events

1. 2026-06-18
   days on market $88,000 Active 79 DOM
2. 2026-06-17
   days on market $88,000 Active 78 DOM
3. 2026-06-16
   days on market $88,000 Active 77 DOM
4. 2026-06-15
   days on market $88,000 Active 76 DOM
5. 2026-06-13
   days on market $88,000 Active 74 DOM
6. 2026-06-13
   days on market $88,000 Active 73 DOM
7. 2026-06-09
   days on market $88,000 Active 70 DOM
8. 2026-06-08
   days on market $88,000 Active 69 DOM
9. 2026-06-07
   days on market $88,000 Active 68 DOM
10. 2026-06-05
    days on market $88,000 Active 65 DOM
11. 2026-06-03
    days on market $88,000 Active 64 DOM
12. 2026-06-02
    days on market $88,000 Active 63 DOM
13. 2026-06-01
    days on market $88,000 Active 62 DOM
14. 2026-05-31
    days on market $88,000 Active 61 DOM
15. 2026-05-02
    price $88,000 831-char remark

    Show marketing remark (831 chars)

    Welcome to LAKE LIFE!! Move to the Lake in the most cost effective way. This home is just 4 years new built in 2022, in good shape offering 1216 Sq Ft. Wide Open Concept Living Space with Vinyl Plank Flooring Throughout. This Claremont built by Clayton Manufactured Home with split bedroom floor plan offers 3 Bedrooms, 2 Full Baths and Laundry. Kitchen with 42 inch cabinets and a big Island for additional eat space. Plenty of room for a large dining table. Good sized Owners suite with walk-in closet, large Bath with shower and soaking tub. New 10 X 12 Amish Built Shed with loft storage on each end, and a Large Side Yard are part of what this home has to offer. Bring your Vision of what a move out deep cleaning will offer. Schedule your showing today. Buyers must be approved by park management. See Agent to Agent Remarks.

16. 2026-03-31
    listed $98,000 Active 831-char remark

    Show marketing remark (831 chars)

    Welcome to LAKE LIFE!! Move to the Lake in the most cost effective way. This home is just 4 years new built in 2022, in good shape offering 1216 Sq Ft. Wide Open Concept Living Space with Vinyl Plank Flooring Throughout. This Claremont built by Clayton Manufactured Home with split bedroom floor plan offers 3 Bedrooms, 2 Full Baths and Laundry. Kitchen with 42 inch cabinets and a big Island for additional eat space. Plenty of room for a large dining table. Good sized Owners suite with walk-in closet, large Bath with shower and soaking tub. New 10 X 12 Amish Built Shed with loft storage on each end, and a Large Side Yard are part of what this home has to offer. Bring your Vision of what a move out deep cleaning will offer. Schedule your showing today. Buyers must be approved by park management. See Agent to Agent Remarks.

ⓘ 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 5/10 Major FEMA zone X (shaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$5,940
• − Depreciation: −$2,560
• Taxable income: $4,971
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $4,529/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 · 2 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a split bedroom floor plan and vinyl plank flooring. It is located near a lake and offers a good value for a move-in-ready property.

Value-add opportunities

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers or renters.
• Both Interior updates — Updating the interior can enhance the home's appeal and value, especially if the interior is not as modern as the listing suggests.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers or renters. ↑
• Both Interior updates — Updating the interior can enhance the home's appeal and value, especially if the interior is not as modern as the listing suggests. ↑

ⓘ 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: Lakewood Local
• NCES district ID: 3904799
• Math proficiency: 44% ▼ -15.00%
• Reading proficiency: 49% ▼ -10.00%
• Median HH income: $51,143
• Composite: 39.98/100
• National rank: #3834
• State rank: #481 of 656 in OH

Livability — Buckeye Lake

• Score: 66/100
• State rank: #671
• US rank: #11844

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buckeye Lake, OH
• County: Licking · 160,960 people
• City population: 2,419
• Metro: Columbus, OH
• Population (ZIP): 2,419
• Household income: $82,750
• Rent vs Own: 23.2% rent · 76.8% own

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 6% Iranian 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.12%
• Current HPI: 293.8256
• 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

-10.2% since first listed

2 events — show timeline

• 2026-05-02 Price Changed $88,000 CBRMLS
• 2026-03-31 Listed $98,000 CBRMLS