1520 Orange Rd #131 · Ashland, OH 44805

$24,900

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 1 Days on market

Built 1985 435 sqft lot Est $25k · at est. $500/mo HOA · 55% of rent ↓ 41% 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 +24.3/30.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.6/15.0
• Schools +5.8/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1985 Redman Venture. Well maintained. Open eat-in kitchen living room plan. Breakfast bar. All appliances and electric fireplace will stay. Central air conditioning. Partially enclosed patio. Storage shed. New asphalt 2-car onsite parking.

Key facts

• Manufactured home
• New hot water tank
• New flooring

Tags

• MANUFACTURED HOME
• NEW FLOORING
• NEW HOT WATER TANK
• MOVE IN READY

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• HOA & community: Monthly association fee of $500 covering trash and water

Exterior

• Parking: Driveway parking
• Utilities: Public water service; Public sewer service
• Home design: Single-story home; Single-level entry
• Construction: Vinyl siding; Metal roof; Built per public records
• Exterior features: Public water; Public sewer

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Baseboard heat; Central air
• Interior features: Central air conditioning; Baseboard heating
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $50 ($603/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($914 rent vs $25k).
• Cap rate 8.7% vs local median 3.8% in Ashland — 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 72/100 on livability (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• 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.
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $7k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 55% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,900

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 B-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: 3.67% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $24,948
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Harold Dr	0.31mi	3/1.0 (+1)	924 (0%)	4mo	$25,000	$27	73
1520 Orange Rd Lot 35 Rd	0.09mi	3/2.0 (+1)	1,012 (+10%)	3mo	$10,200	$10	72
1471 Troy Rd Lot 23 Rd	0.33mi	3/1.0 (+1)	990 (+7%)	2mo	$28,000	$28	62

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.49×
• Total profit: $3,382
• Equity at exit: $3,713

10-year hold

• IRR: 27.1%
• Equity multiple: 4.70×
• Total profit: $25,762
• Equity at exit: $2,153

Cash invested: $6,972 (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 44805

• Rents YoY: 7.1%
• Active inventory: 122
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $914 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$500
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $50

Break-even live

Break-even rent $851

Max offer price $24,900

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	43d	1	0.59mi
521 W 10th St Unit 521 Ashland, OH	1.0	1.0	568	$600	$1.06	43d	1	0.88mi
222 E Walnut St Unit 212 Ashland, OH	2.0	1.0	970	$900	$0.93	43d	1	1.21mi
318 Quarry St Unit 4 Ashland, OH	2.0	1.0	750	$800	$1.07	43d	1	1.22mi

HOA detail

• Monthly dues: $500 · $6,000/yr
• Likely covers: electric

Listing history 2 events

1. 2026-06-18
   remarks 267-char remark
2. 2026-06-18
   listed $24,900 Active 1 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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 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: $10,972
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$878
• − Management: −$878
• − HOA: −$6,000
• − Depreciation: −$724
• Taxable income: $599
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $459/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, OH
• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, 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

-41.4% since first listed

15 events — show timeline

• 2026-06-18 Listed $24,900 MLSNOW
• 2023-08-17 Sold (MLS) $28,000 MARMLS
• 2023-08-16 Sold (MLS) $28,000 MLSNOW
• 2023-08-16 Sold (MLS) $28,000 ABOR
• 2023-08-04 Pending — MLSNOW
• 2023-08-04 Pending — MARMLS
• 2023-07-24 Price Changed $29,900 MARMLS
• 2023-07-24 Price Changed $29,900 MLSNOW
• 2023-06-29 Price Changed $34,900 MLSNOW
• 2023-06-29 Price Changed $34,900 MARMLS
• 2023-06-18 Price Changed $39,000 MLSNOW
• 2023-06-18 Price Changed $39,000 MARMLS
• 2023-05-02 Listed $29,900 ABOR
• 2023-05-02 Listed $42,500 MARMLS
• 2023-05-01 Listed $42,500 MLSNOW