11539 Lake Dr Lot 127 · Chippewa Park, OH 43331

$99,999

2 bd · 1.0 ba · 420 sqft · SingleFamily · 38 Days on market

Built 2017 Good condition $238/sqft · 20% below area Est $125k · 20% under $196/mo HOA · 16% of rent ↓ 9% since listing

---

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 +17.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.2/10.0
• DSCR +5.5/10.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to lake life at Indian Lake! This beautiful 2017 Kropf Island Park Model offers the perfect seasonal getaway located on an oversized lot in Smuggler's Cove. Begin making memories immediately in this fully furnished retreat complete with party shed and golf cart! Offering over 400 main floor square feet + a large loft space that sleeps 4, this beautiful park model features a bright and inviting open interior layout. Extend your living space outdoors onto the covered patio! Here you can enjoy your morning coffee in the peaceful setting, followed by endless summer nights with the shed opened as a bar, perfect for entertaining or watching the game from the patio. All furnishings plus the Yamaha golf cart are included at no additional cost, making this a truly turnkey opportunity just in time for prime lake season. Recent updates include a new water softener (June 2023) and new water heater (July 2024). Seasonal occupancy runs May through October. Annual lot rent is $2,350 and includes water, trash, and cable. Smuggler's Cove amenities include a pond, basketball courts, playground, and shelter house, all conveniently located near the fun and recreation of Indian Lake including a short 4 minute drive to the public boat ramp. Don't miss your chance to own an affordable and fully furnished seasonal escape!

Key facts

• Recent updates
• Covered patio
• Public boat ramp

Tags

• OVERSIZED LOT
• FULLY FURNISHED RETREAT
• COVERED PATIO
• RECENT UPDATES
• PUBLIC BOAT RAMP

Property features AI

Finance

• Other: Located in Smuggler's Cove subdivision (Lot 127, Stokes township)
• HOA & community: Homeowners association with annual fee of $2,350; Association amenities include basketball court and park; Association fee includes cable/satellite, trash, and water

Exterior

• Utilities: Public water; Public sewer
• Home design: Other residential without deeded land (mobile/manufactured); One and one half levels; Built in 2017; Mobile dimensions approximately 38' x 11'; No common walls; no one above or below
• Construction: Other foundation
• Exterior features: Patio; Storage shed(s)

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Has heating
• Interior features: Fireplace (one); 420 finished living area (per floor plan)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $77 ($920/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.1% in Chippewa Park — 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 49/100 on livability (#1,173 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime 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 $691 of loan paydown is wiped out by about $3k 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 38 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 6.8

CMA / ARV

• ARV (median comp): $124,864
• List price: $99,999
• Delta: -19.91%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11377 Township Rd. 266 #59	0.37mi	2/1.0	399 (-5%)	2mo	$65,000	$163	73
11377 Township Road 266 #58	0.42mi	2/1.0	399 (-5%)	10mo	$60,000	$150	64
11496 Pocahontas Path	0.45mi	2/1.0	456 (+9%)	1mo	$112,000	$246	64
9134 East Dr	0.71mi	2/1.0	444 (+6%)	1mo	$110,000	$248	57
11475 Township Road 293 #330	0.62mi	1/1.0 (-1)	396 (-6%)	3mo	$161,900	$409	54

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-11,183
• Equity at exit: $14,910

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-2,888
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$196
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $77

Break-even live

Break-even rent $1,123

Max offer price $99,999

Occupancy floor 89%

Sensitivity live

Price	-10% $146	-5% $111	+0% $77	+5% $42	+10% $8
Rent	-10% $-20	-5% $28	+0% $77	+5% $125	+10% $173
Rate	-1.0pp $127	-0.5pp $102	base $77	+0.5pp $51	+1.0pp $24

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $196 · $2,352/yr
• Likely covers: watertrashcable

Listing history 17 events

1. 2026-06-21
   days on market $99,999 Active 38 DOM
2. 2026-06-18
   days on market $99,999 Active 36 DOM
3. 2026-06-17
   days on market $99,999 Active 35 DOM
4. 2026-06-16
   days on market $99,999 Active 34 DOM
5. 2026-06-15
   pricedays on market $99,999 Active 33 DOM
6. 2026-06-13
   days on market $109,900 Active 31 DOM
7. 2026-06-12
   days on market $109,900 Active 30 DOM
8. 2026-06-09
   days on market $109,900 Active 27 DOM
9. 2026-06-08
   days on market $109,900 Active 26 DOM
10. 2026-06-08
    days on market $109,900 Active 25 DOM
11. 2026-06-07
    days on market $109,900 Active 24 DOM
12. 2026-06-04
    days on market $109,900 Active 21 DOM
13. 2026-06-02
    days on market $109,900 Active 20 DOM
14. 2026-06-01
    days on market $109,900 Active 19 DOM
15. 2026-05-31
    days on market $109,900 Active 18 DOM
16. 2026-05-12
    listed $109,900 Active 1327-char remark

    Show marketing remark (1331 chars)

    Welcome to lake life at Indian Lake! This beautiful 2017 Kropf Island Park Model offers the perfect seasonal getaway located on an oversized lot in Smuggler's Cove. Begin making memories immediately in this fully furnished retreat complete with party shed and golf cart! Offering over 400 main floor square feet + a large loft space that sleeps 4, this beautiful park model features a bright and inviting open interior layout. Extend your living space outdoors onto the covered patio! Here you can enjoy your morning coffee in the peaceful setting, followed by endless summer nights with the shed opened as a bar, perfect for entertaining or watching the game from the patio. All furnishings plus the Yamaha golf cart are included at no additional cost, making this a truly turnkey opportunity just in time for prime lake season. Recent updates include a new water softener (June 2023) and new water heater (July 2024). Seasonal occupancy runs May through October. Annual lot rent is $2,350 and includes water, trash, and cable. Smuggler's Cove amenities include a pond, basketball courts, playground, and shelter house, all conveniently located near the fun and recreation of Indian Lake including a short 4 minute drive to the public boat ramp. Don't miss your chance to own an affordable and fully furnished seasonal escape!

17. 2026-05-12
    listed $109,900 Active 1331-char remark

    Show marketing remark (1331 chars)

    Welcome to lake life at Indian Lake! This beautiful 2017 Kropf Island Park Model offers the perfect seasonal getaway located on an oversized lot in Smuggler's Cove. Begin making memories immediately in this fully furnished retreat complete with party shed and golf cart! Offering over 400 main floor square feet + a large loft space that sleeps 4, this beautiful park model features a bright and inviting open interior layout. Extend your living space outdoors onto the covered patio! Here you can enjoy your morning coffee in the peaceful setting, followed by endless summer nights with the shed opened as a bar, perfect for entertaining or watching the game from the patio. All furnishings plus the Yamaha golf cart are included at no additional cost, making this a truly turnkey opportunity just in time for prime lake season. Recent updates include a new water softener (June 2023) and new water heater (July 2024). Seasonal occupancy runs May through October. Annual lot rent is $2,350 and includes water, trash, and cable. Smuggler's Cove amenities include a pond, basketball courts, playground, and shelter house, all conveniently located near the fun and recreation of Indian Lake including a short 4 minute drive to the public boat ramp. Don't miss your chance to own an affordable and fully furnished seasonal escape!

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,639
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − HOA: −$2,352
• − Depreciation: −$2,909
• Taxable loss: −$566
• Est. tax savings @ 24.0%: +$136
• After-tax cash flow: $1,056/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 80/100 Cosmetic rehab

This 2017 Kropf Island Park Model is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance such as painting the exterior siding and cleaning the gutters. The highest-ROI updates that would raise its resale or rental value are painting the exterior siding and cleaning the gutters.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ 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 — Chippewa Park

• Score: 49/100
• State rank: #1173
• US rank: #25758

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D- Housing F 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

-9.0% since first listed

4 events — show timeline

• 2026-06-14 Price Changed $99,999 WRIST
• 2026-06-14 Price Changed $99,999 CBRMLS
• 2026-05-12 Listed $109,900 CBRMLS
• 2026-05-12 Listed $109,900 WRIST