Clayton Adrenaline C Plan

Ontario, OH 44903

$74,900B

3 bd · 2.0 ba · 1,050 sqft · Built — · Manufactured · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $413/mo
• Annual: $4,959/yr
• Cap rate: 12.91%
• Cash-on-cash: 23.64%
• DSCR: 2.05
• 1% rule: 1.57%
• Cash to close: $20,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $75k. Condition is rated excellent.
• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 165 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#673 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities F, commute F.
• Lexington Local (suburban): math 72% / reading 75% proficiency, ranked #113 of 656 in OH (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 122 active listings in the ZIP; 129 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).
• Morrow County population projected at -10% 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.9% vs local median 2.4% in Ontario — 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.

Questions for listing agent

• It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.