11504 State Route 235 #41 · Lakeview, OH 43331

$42,500

2 bd · 1.0 ba · 672 sqft · Manufactured · 58 Days on market

Built 1972 Good condition $63/sqft · 81% below area $242/mo HOA · 18% of rent ↓ 15% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this SEASONAL retreat (April 1 - October 31) in sought-after Blackhawk Trailer Park at Indian Lake--just steps from the docks and state park. Whether you're boating, relaxing, or entertaining, this location puts you right in the heart of it all. Situated on a spacious corner lot, this well-maintained mobile home is packed with updates and features: Screened-in porch - perfect for morning coffee or evening unwinding Huge paver patio with fire pit - made for summer nights Central A/C + furnace heat for comfort all season long Metal roof for durability Fresh paint & new skirting (2025) All PEX plumbing (professionally reviewed 2025) HVAC professionally serviced Appliances included + tons of kitchen storage Need space for projects or storage? You'll love the extra-large shed with electricity, workbench, and built-in shelving. Enjoy ample parking, a beautiful lot, and a welcoming community with great neighbors. The park offers reliable water service, and the $2,900/year lot rent includes water, sewer, trash, and mowing--making ownership easy and affordable. Bonus: Lot rent is already paid through September 2026! This property is being sold as-is--but it's move-in ready for a full season of fun. Message today to schedule your private tour--summer is calling!

Key facts

• Metal roof
• Screened-in porch
• Ample parking

Tags

• SCREENED-IN PORCH
• HUGE PAVER PATIO
• METAL ROOF
• EXTRA-LARGE SHED
• AMPLE PARKING

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $2,900 covering electricity, lawn care, sewer, trash and water

Exterior

• Parking: Shared driveway
• Utilities: Private sewer; Well water
• Home design: One-story residence; Other residential without deeded land; No common walls; Built in 1972
• Construction: Other foundation
• Exterior features: Patio; Shed(s) and outbuilding

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Laminate flooring; Carpeted areas
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Propane heating
• Interior features: Open living area; Living area approximately 672

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $42k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $82 ($980/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.6% vs local median 5.8% in Lakeview — 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 63/100 on livability (#836 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 109 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.11% ✓
• Cap rate: 20.64%
• Cash-on-cash: 51.25%
• DSCR: 3.28
• GRM: 2.7

CMA / ARV

• ARV (median comp): $218,796
• List price: $42,500
• Delta: -80.58%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11020 Oak Cir #7	0.57mi	2/1.0	630 (-6%)	6mo	$30,000	$48	58
11013 Oak Cir #10	0.56mi	2/2.0	720 (+7%)	12mo	$12,000	$17	48
11025 Oak Cir #4	0.65mi	2/1.0	756 (+12%)	7mo	$56,500	$75	43
11012 Ash St #11	0.65mi	2/1.0	756 (+12%)	16mo	$20,000	$26	36
11017 Oak Circle Cir Lot 8	0.65mi	2/1.0	756 (+12%)	22mo	$18,500	$24	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-1,256
• Equity at exit: $6,337

10-year hold

• IRR: 7.8%
• Equity multiple: 1.62×
• Total profit: $7,353
• Equity at exit: $3,675

Cash invested: $11,900 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 109
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$223
• Tax est. 1.5%: −$53 /mo · $638/yr
• Insurance: −$18
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $82

Break-even live

Break-even rent $1,218

Max offer price $42,500

Occupancy floor 89%

Sensitivity live

Price	-10% $111	-5% $96	+0% $82	+5% $67	+10% $52
Rent	-10% $-23	-5% $29	+0% $82	+5% $134	+10% $186
Rate	-1.0pp $103	-0.5pp $92	base $82	+0.5pp $71	+1.0pp $59

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $242 · $2,904/yr
• Likely covers: watersewertrashelectric

Listing history 17 events

1. 2026-06-21
   days on market $42,500 Active 58 DOM
2. 2026-06-18
   days on market $42,500 Active 56 DOM
3. 2026-06-17
   days on market $42,500 Active 55 DOM
4. 2026-06-16
   days on market $42,500 Active 54 DOM
5. 2026-06-15
   days on market $42,500 Active 53 DOM
6. 2026-06-13
   days on market $42,500 Active 51 DOM
7. 2026-06-12
   days on market $42,500 Active 50 DOM
8. 2026-06-09
   days on market $42,500 Active 47 DOM
9. 2026-06-08
   days on market $42,500 Active 46 DOM
10. 2026-06-08
    days on market $42,500 Active 45 DOM
11. 2026-06-07
    days on market $42,500 Active 44 DOM
12. 2026-06-04
    days on market $42,500 Active 41 DOM
13. 2026-06-02
    days on market $42,500 Active 40 DOM
14. 2026-06-01
    days on market $42,500 Active 39 DOM
15. 2026-05-31
    days on market $42,500 Active 38 DOM
16. 2026-04-23
    listed $49,900 Active 1313-char remark

    Show marketing remark (1313 chars)

    Welcome to this SEASONAL retreat (April 1 - October 31) in sought-after Blackhawk Trailer Park at Indian Lake--just steps from the docks and state park. Whether you're boating, relaxing, or entertaining, this location puts you right in the heart of it all. Situated on a spacious corner lot, this well-maintained mobile home is packed with updates and features: Screened-in porch - perfect for morning coffee or evening unwinding Huge paver patio with fire pit - made for summer nights Central A/C + furnace heat for comfort all season long Metal roof for durability Fresh paint & new skirting (2025) All PEX plumbing (professionally reviewed 2025) HVAC professionally serviced Appliances included + tons of kitchen storage Need space for projects or storage? You'll love the extra-large shed with electricity, workbench, and built-in shelving. Enjoy ample parking, a beautiful lot, and a welcoming community with great neighbors. The park offers reliable water service, and the $2,900/year lot rent includes water, sewer, trash, and mowing--making ownership easy and affordable. Bonus: Lot rent is already paid through September 2026! This property is being sold as-is--but it's move-in ready for a full season of fun. Message today to schedule your private tour--summer is calling!

17. 2026-04-23
    listed $49,900 Active 1303-char remark

    Show marketing remark (1313 chars)

    Welcome to this SEASONAL retreat (April 1 - October 31) in sought-after Blackhawk Trailer Park at Indian Lake--just steps from the docks and state park. Whether you're boating, relaxing, or entertaining, this location puts you right in the heart of it all. Situated on a spacious corner lot, this well-maintained mobile home is packed with updates and features: Screened-in porch - perfect for morning coffee or evening unwinding Huge paver patio with fire pit - made for summer nights Central A/C + furnace heat for comfort all season long Metal roof for durability Fresh paint & new skirting (2025) All PEX plumbing (professionally reviewed 2025) HVAC professionally serviced Appliances included + tons of kitchen storage Need space for projects or storage? You'll love the extra-large shed with electricity, workbench, and built-in shelving. Enjoy ample parking, a beautiful lot, and a welcoming community with great neighbors. The park offers reliable water service, and the $2,900/year lot rent includes water, sewer, trash, and mowing--making ownership easy and affordable. Bonus: Lot rent is already paid through September 2026! This property is being sold as-is--but it's move-in ready for a full season of fun. Message today to schedule your private tour--summer is calling!

ⓘ 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 6/10 Major FEMA zone AE · 69% 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: $15,857
• − Mortgage interest: −$2,381
• − Property taxes: −$638
• − Insurance: −$5,331
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − HOA: −$2,904
• − Depreciation: −$1,236
• Taxable income: $830
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $781/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in a sought-after location offers a good starting point for potential buyers or renters. With minor cosmetic updates and maintenance, it can significantly increase its value.

Value-add opportunities

• Both Paint exterior siding and trim — Fresh paint enhances curb appeal and can increase both resale and rental value.
• Both Replace worn-out carpet in living areas — Fresh carpet improves comfort and can increase both resale and rental value.
• Both Upgrade kitchen appliances — Modern appliances can increase both resale and rental value.
• Both Install smart home features — Smart home features can increase both resale and rental value by enhancing convenience and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding and trim — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace worn-out carpet in living areas — Fresh carpet improves comfort and can increase both resale and rental value. ↑
• Both Upgrade kitchen appliances — Modern appliances can increase both resale and rental value. ↑
• Both Install smart home features — Smart home features can increase both resale and rental value by enhancing convenience and energy efficiency. ↑

ⓘ 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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Lakeview

• Score: 63/100
• State rank: #836
• US rank: #15632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• 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

-14.8% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $42,500 WRIST
• 2026-05-27 Price Changed $42,500 CBRMLS
• 2026-04-23 Listed $49,900 CBRMLS
• 2026-04-23 Listed $49,900 WRIST