6106 London Groveport Rd Unit C9

Darbydale, OH 43123

$24,900D+

3 bd · 2.0 ba · 1,008 sqft · Built 1990 · Manufactured · Pending · 116 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,810/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$600
• Vac / Maint / Mgmt: −$380
• Net cashflow: $658/mo
• Annual: $7,893/yr
• Cap rate: 37.99%
• Cash-on-cash: 113.21%
• DSCR: 6.04
• 1% rule: 7.27%
• Cash to close: $6,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $25k.
• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• It's been on market 116 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#871 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools F, amenities F, commute F.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 33% of rent.
• Market conditions: Rents rising (+3.7%/yr); 327 active listings in the ZIP; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $15k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $25k implies a 84% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.