6454 Us Route 40 Lot 25

Brandt, OH 45371

$22,950C-

2 bd · 1.0 ba · 924 sqft · Built 1969 · Manufactured · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,775/mo
• Mortgage (P&I): −$120
• Tax + insurance: −$38
• HOA: −$350
• Vac / Maint / Mgmt: −$373
• Net cashflow: $893/mo
• Annual: $10,719/yr
• Cap rate: 53.00%
• Cash-on-cash: 166.81%
• DSCR: 8.42
• 1% rule: 7.73%
• Cash to close: $6,426

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $23k.
• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $23k).
• It's been on market 66 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $158 of loan paydown is wiped out by about $688 of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bethel Local (rural): math 63% / reading 69% proficiency, ranked #174 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $2k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.