10950 Cherokee Dr #59 · Chippewa Park, OH 43331

$77,900

2 bd · 1.0 ba · 540 sqft · Manufactured · 19 Days on market

Built 2013 Good condition $144/sqft · 46% below area Est $145k · 46% under $290/mo HOA · 23% of rent ↓ 21% since listing

---

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 +24.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• Schools +5.3/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the gated community of Cherokee Landing! Follow the long lane back to your secluded oasis and relax. Park your boat at the dock all summer and store it under the 12x31 covered patio in the winter! Enjoy the use of the community water front space with benches, as well! This well maintained unit faces a wooded inlet for fishing and offers a peek-a-boo view of the open water from the fire pit. The brand new boat dock sits close to the end of the channel for quick lake access. The double loft holds two queen beds and with the sleeper sofa, you can host plenty of friends and family here. Settle in and enjoy summer right away!

Key facts

• Gated community
• Brand new boat dock
• Wooded inlet

Tags

• GATED COMMUNITY
• SECLUDED OASIS
• COMMUNITY WATER FRONT SPACE
• WOODED INLET
• PEEK-A-BOO VIEW
• BRAND NEW BOAT DOCK

Property features AI

Finance

• HOA & community: Homeowners association with gated entrance and clubhouse; Annual HOA fee of $3,480; HOA fee includes sewer, trash and water

Exterior

• Parking: Carport with 1 space
• Utilities: Public sewer; Well water
• Home design: Other residential without deeded land; Built in 2013; One and one-half levels; No shared/common walls
• Construction: Other foundation
• Exterior features: Patio; Fenced yard; Shed on the property; Water view

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: 540 interior living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $78k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.5% 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: amenities F, commute F, employment D-.
• 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.
• Zoned schools: Indian Lake Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 510 students, 45% FRL); Indian Lake Middle School (math 56% / reading 65%, grade B+, #259 of 654 statewide, top 40%, 407 students, 42% FRL); Indian Lake High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 492 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• 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 $539 of loan paydown is wiped out by about $2k 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 19 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts 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 23% of rent.

Recommended offer $76,731 (1.5% below list)

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 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?
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: 1.62% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 5.1

CMA / ARV

• ARV (median comp): $145,101
• List price: $77,900
• Delta: -46.31%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,738
• Equity at exit: $11,615

10-year hold

• IRR: 7.8%
• Equity multiple: 1.60×
• Total profit: $13,050
• Equity at exit: $6,735

Cash invested: $21,812 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,261 medium
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$97 /mo · $1,168/yr
• Insurance: −$32
• HOA: −$290
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $168

Break-even live

Break-even rent $1,049

Max offer price $77,900

Occupancy floor 82%

Sensitivity live

Price	-10% $222	-5% $195	+0% $168	+5% $141	+10% $114
Rent	-10% $68	-5% $118	+0% $168	+5% $218	+10% $267
Rate	-1.0pp $207	-0.5pp $188	base $168	+0.5pp $148	+1.0pp $127

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: $19,475
• Closing costs: $2,337
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $290 · $3,480/yr
• Likely covers: watersecurity

Listing history 31 events

1. 2026-06-21
   days on market $77,900 Active 19 DOM
2. 2026-06-21
   days on market $77,900 Active 18 DOM
3. 2026-06-18
   days on market $77,900 Active 16 DOM
4. 2026-06-17
   days on market $77,900 Active 15 DOM
5. 2026-06-16
   days on market $77,900 Active 14 DOM
6. 2026-06-15
   days on market $77,900 Active 13 DOM
7. 2026-06-13
   days on market $77,900 Active 11 DOM
8. 2026-06-12
   days on market $77,900 Active 10 DOM
9. 2026-06-09
   days on market $77,900 Active 7 DOM
10. 2026-06-08
    days on market $77,900 Active 6 DOM
11. 2026-06-08
    days on market $77,900 Active 5 DOM
12. 2026-06-07
    days on market $77,900 Active 4 DOM
13. 2026-06-03
    days on marketlisting id $77,900 Active 1 DOM
14. 2026-05-31
    days on market $77,900 Active 78 DOM
15. 2026-05-14
    price $77,900 639-char remark
16. 2026-05-14
    price $77,900 639-char remark
17. 2026-05-14
    price $77,900
18. 2026-03-13
    listed $79,900 Active 639-char remark
19. 2026-03-13
    listed $79,900 Active 639-char remark
20. 2026-03-13
    listed $79,900 Active
21. 2025-10-12
    historical
22. 2025-10-11
    historical
23. 2025-08-01
    price $96,000
24. 2025-08-01
    price $96,000
25. 2025-07-31
    price $96,000
26. 2025-07-25
    price $98,000
27. 2025-07-25
    price $98,000
28. 2025-07-25
    price $98,000
29. 2025-07-11
    listed $99,000 Active
30. 2025-07-11
    listed $99,000 Active
31. 2025-07-11
    listed $99,000 Active

ⓘ 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 ≥100°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: $15,132
• − Mortgage interest: −$4,364
• − Property taxes: −$1,168
• − Insurance: −$390
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − HOA: −$3,480
• − Depreciation: −$2,266
• Taxable income: $1,043
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $1,763/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 · 12 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with a good condition score of 75. It has a good exterior, interior, and HVAC system. The property has a good location with a dock and access to the lake. The home is move-in ready and has a good rental potential.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and increase the property's value.
• Both Clean the windows — Clean windows can improve the property's appearance and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and increase the property's value. ↑
• Both Clean the windows — Clean windows can improve the property's appearance and make it more attractive to potential buyers or renters. ↑

ⓘ 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

-21.3% since first listed

22 events — show timeline

• 2026-06-02 Listed $77,900 WRIST
• 2026-06-02 Listed $77,900 WCARE
• 2026-06-02 Listed $77,900 CBRMLS
• 2026-06-01 Listing Removed — CBRMLS
• 2026-05-31 Listing Removed — WRIST
• 2026-05-14 Price Changed $77,900 WCARE
• 2026-05-14 Price Changed $77,900 CBRMLS
• 2026-05-14 Price Changed $77,900 WRIST
• 2026-03-13 Listed $79,900 WCARE
• 2026-03-13 Listed $79,900 WRIST
• 2026-03-13 Listed $79,900 CBRMLS
• 2025-10-12 Listing Removed — CBRMLS
• 2025-10-11 Listing Removed — WRIST
• 2025-08-01 Price Changed $96,000 CBRMLS
• 2025-08-01 Price Changed $96,000 WCARE
• 2025-07-31 Price Changed $96,000 WRIST
• 2025-07-25 Price Changed $98,000 WCARE
• 2025-07-25 Price Changed $98,000 CBRMLS
• 2025-07-25 Price Changed $98,000 WRIST
• 2025-07-11 Listed $99,000 WCARE
• 2025-07-11 Listed $99,000 WRIST
• 2025-07-11 Listed $99,000 CBRMLS