1330 Hanover Rd #71 · Delaware, OH 43015

$119,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 115 Days on market

Built 2025 $83/sqft · 68% below area $825/mo HOA · 44% of rent

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Why this score? — see what drove the D 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover practical comfort in this well-laid-out manufactured home located in the friendly Crystal Lake Community - Lot 71 This 3-bedroom, 2-bath double-wide offers approximately 1,309 square feet of thoughtfully designed living space, making it an excellent option for those who want both functionality and affordability. Inside, the home features a smart layout that makes the most of every square foot. The living area provides a cozy yet open space to relax or gather with friends and family, while the nearby kitchen keeps everything within easy reach for everyday meals and conversations. With three bedrooms, there's flexibility for family members, guests, or even a home office. The primary bedroom includes its own private bathroom, offering added convenience and privacy. The additional bathroom helps keep mornings running smoothly. Set within the peaceful Crystal Lake Community, this manufactured home combines low-maintenance living with the space you need to feel at home. Whether you're starting out, rightsizing, or looking for a budget-friendly move, Lot 71 delivers comfort, value, and a place to truly settle in. The community has several other units for sale. Call for details. The park is offering move in specials on the lot rent. Call for more details.

Key facts

• Private bathroom
• Built 2025
• Listed 115 days

Tags

• PRIVATE BATHROOM
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (19.3% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $97k (19.3% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 2.5% in Delaware — 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 80/100 on livability (#116 in OH, #1,717 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, schools A; Watch: amenities C-, commute F.
• Delaware City (suburban): math 47% / reading 63% proficiency, ranked #355 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 499 active listings in the ZIP; solid renter incomes; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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.
• Current owner paid $19k; list at $120k implies a 518% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $96,801 (19.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.58% ✓
• Cap rate: 4.70%
• Cash-on-cash: -5.71%
• DSCR: 0.75
• GRM: 5.3

CMA / ARV

• ARV (median comp): $378,000
• List price: $119,900
• Delta: -68.28%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -29.4%
• Equity multiple: 0.05×
• Total profit: $-32,020
• Equity at exit: $17,877

10-year hold

• IRR: -49.0%
• Equity multiple: -0.51×
• Total profit: $-50,565
• Equity at exit: $10,367

Cash invested: $33,572 (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 43015

• Rents YoY: 1.4%
• Active inventory: 499
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,891 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$825
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-160

Break-even live

Break-even rent $2,093

Max offer price $96,801

Occupancy floor —

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $825 · $9,900/yr

Listing history 17 events

1. 2026-06-18
   days on market $119,900 Active 115 DOM
2. 2026-06-17
   days on market $119,900 Active 114 DOM
3. 2026-06-16
   days on market $119,900 Active 113 DOM
4. 2026-06-15
   days on market $119,900 Active 112 DOM
5. 2026-06-13
   days on market $119,900 Active 110 DOM
6. 2026-06-09
   days on market $119,900 Active 106 DOM
7. 2026-06-08
   days on market $119,900 Active 105 DOM
8. 2026-06-07
   days on market $119,900 Active 104 DOM
9. 2026-06-03
   days on market $119,900 Active 100 DOM
10. 2026-06-02
    days on market $119,900 Active 99 DOM
11. 2026-06-01
    days on market $119,900 Active 98 DOM
12. 2026-05-31
    days on market $119,900 Active 97 DOM
13. 2026-03-20
    price $119,900 1276-char remark

    Show marketing remark (1276 chars)

    Discover practical comfort in this well-laid-out manufactured home located in the friendly Crystal Lake Community - Lot 71 This 3-bedroom, 2-bath double-wide offers approximately 1,309 square feet of thoughtfully designed living space, making it an excellent option for those who want both functionality and affordability. Inside, the home features a smart layout that makes the most of every square foot. The living area provides a cozy yet open space to relax or gather with friends and family, while the nearby kitchen keeps everything within easy reach for everyday meals and conversations. With three bedrooms, there's flexibility for family members, guests, or even a home office. The primary bedroom includes its own private bathroom, offering added convenience and privacy. The additional bathroom helps keep mornings running smoothly. Set within the peaceful Crystal Lake Community, this manufactured home combines low-maintenance living with the space you need to feel at home. Whether you're starting out, rightsizing, or looking for a budget-friendly move, Lot 71 delivers comfort, value, and a place to truly settle in. The community has several other units for sale. Call for details. The park is offering move in specials on the lot rent. Call for more details.

14. 2026-02-23
    listed $124,900 Active 1276-char remark

    Show marketing remark (1276 chars)

    Discover practical comfort in this well-laid-out manufactured home located in the friendly Crystal Lake Community - Lot 71 This 3-bedroom, 2-bath double-wide offers approximately 1,309 square feet of thoughtfully designed living space, making it an excellent option for those who want both functionality and affordability. Inside, the home features a smart layout that makes the most of every square foot. The living area provides a cozy yet open space to relax or gather with friends and family, while the nearby kitchen keeps everything within easy reach for everyday meals and conversations. With three bedrooms, there's flexibility for family members, guests, or even a home office. The primary bedroom includes its own private bathroom, offering added convenience and privacy. The additional bathroom helps keep mornings running smoothly. Set within the peaceful Crystal Lake Community, this manufactured home combines low-maintenance living with the space you need to feel at home. Whether you're starting out, rightsizing, or looking for a budget-friendly move, Lot 71 delivers comfort, value, and a place to truly settle in. The community has several other units for sale. Call for details. The park is offering move in specials on the lot rent. Call for more details.

15. 1998-08-25
    soldstatus $19,400
16. 1998-08-21
    historical
17. 1998-08-04
    listed $19,900

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $22,693
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − HOA: −$9,900
• − Depreciation: −$3,488
• Taxable loss: −$3,440
• Est. tax savings @ 24.0%: +$826
• After-tax cash flow: $-1,090/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: Delaware City
• NCES district ID: 3904387
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 63% ▼ -7.00%
• Median HH income: $55,434
• Composite: 47.39/100
• National rank: #2288
• State rank: #355 of 656 in OH

Livability — Delaware

• Score: 80/100
• State rank: #116
• US rank: #1717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 61,401
• Metro: Columbus, OH
• Population (ZIP): 61,401
• Household income: $105,322
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 965.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 5% Black 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -398.47%
• Current HPI: 233.0634
• Rent YoY: ▲ 1.42%
• Metro: Columbus, OH
• 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

+502.5% since first listed

5 events — show timeline

• 2026-03-20 Price Changed $119,900 CBRMLS
• 2026-02-23 Listed $124,900 CBRMLS
• 1998-08-25 Sold (MLS) $19,400 CBRMLS
• 1998-08-21 Listing Removed — CBRMLS
• 1998-08-04 Listed $19,900 CBRMLS