231 Spruce Ridge Dr · South Bloomfield, OH 43103

$90,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 11 Days on market

Built 2000 $547/mo HOA · 35% of rent

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Why this score? — see what drove the C 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 +17.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 231 Spruce Ridge Drive in Scioto Estates! This well maintained 3 bed, 2 full bath double wide home offers 1,456 sq ft of comfortable living space in one of Ashville's most desirable communities. Situated on the end of the street next to open green space and farmland, this property provides a peaceful setting with added privacy and scenic views rarely found in community living. Step inside to discover a spacious open concept floor plan featuring a large living room anchored by a cozy gas log fireplace, creating the perfect space for relaxing or entertaining. The oversized kitchen offers abundant cabinetry, ample counter space, a center island with additional storage, and flows sea

Key facts

• Oversized kitchen
• Gas log fireplace
• Private full bath

Tags

• OPEN CONCEPT FLOOR PLAN
• GAS LOG FIREPLACE
• OVERSIZED KITCHEN
• CENTER ISLAND
• PRIVATE FULL BATH
• UPDATED WALK-IN SHOWER

Property features AI

Finance

• HOA & community: Homeowners association present; Monthly association fee of $547.50 (includes snow removal)

Exterior

• Parking: On-street parking; One carport space
• Utilities: Public water; Public sewer
• Home design: Other residential without deeded land; One level; Built in 2000; No common walls
• Construction: Other foundation
• Exterior features: Patio; Deck; Shed(s)

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Laminate; Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Insulated windows; Gas log fireplace (one)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $75 ($901/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 7.3% vs local median 3.4% in South Bloomfield — 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 75/100 on livability (#263 in OH, #4,216 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Teays Valley Local (town): math 66% / reading 68% proficiency, ranked #166 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 169 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $90,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 1.75% ✓
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-9,444
• Equity at exit: $13,419

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-606
• Equity at exit: $7,782

Cash invested: $25,200 (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 43103

• Active inventory: 169
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$547
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $75

Break-even live

Break-even rent $1,480

Max offer price $90,000

Occupancy floor 90%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5830 Hutchison St South Bloomfield, OH	2.0	2.0	1104	$1,450	$1.31	23d	1	0.09mi
5000 Hutchison St Ashville, OH	1.0–3.0	1.0–2.0	1081	$1,750	$1.62	1d	1	0.14mi

HOA detail

• Monthly dues: $547 · $6,564/yr
• Likely covers: gas

Listing history 8 events

1. 2026-06-10
   status $90,000 Pending 11 DOM
2. 2026-06-09
   days on market $90,000 Active 11 DOM
3. 2026-06-08
   days on market $90,000 Active 10 DOM
4. 2026-06-07
   days on market $90,000 Active 9 DOM
5. 2026-06-03
   days on market $90,000 Active 5 DOM
6. 2026-06-02
   days on market $90,000 Active 4 DOM
7. 2026-06-01
   days on market $90,000 Active 3 DOM
8. 2026-05-31
   days on market $90,000 Active 2 DOM

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,897
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − HOA: −$6,564
• − Depreciation: −$2,618
• Taxable loss: −$151
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $937/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.

Schools (NCES district)

• District: Teays Valley Local
• NCES district ID: 3904909
• Math proficiency: 66% ▼ -12.00%
• Reading proficiency: 68% ▼ -10.00%
• Median HH income: $64,637
• Composite: 58.28/100
• National rank: #1019
• State rank: #166 of 656 in OH

Livability — South Bloomfield

• Score: 75/100
• State rank: #263
• US rank: #4216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Bloomfield, OH
• County: Pickaway · 57,589 people
• Metro: Columbus, OH
• Population (ZIP): 12,981
• Household income: $84,304
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 4.6

Population outlook (Pickaway County) Hauer SSP2

• Today (2025): 59,488 people
• By 2030: 60,400 · +1.5%
• By 2040: 61,498 · +3.4%
• By 2050: 61,478 · +3.3%
• By 2075: 59,696 · +0.3%
• By 2100: 51,458 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pickaway

• 2024 margin: Solid R (+48.5) · D 25.3% · R 73.8%
• 2008→2024 swing: -26.8pp toward R · 2008: -21.7pp · 2024: -48.5pp
• All cycles: 2024: R+48.5 2020: R+47.0 2016: R+42.6 2012: R+18.7 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.66%
• Current HPI: 241.2767
• 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

+114.3% since first listed

3 events — show timeline

• 2026-05-29 Listed $90,000 CBRMLS
• 2003-11-17 Listing Removed — CBRMLS
• 2003-05-16 Listed $42,000 CBRMLS