FAIRMONT Melrose Village Plan · Wooster, OH 44691

$48,500

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 52 Days on market

Fair condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Financing for this specific property is not available through the UMH Sales and Finance COP Financing program. This 3 bed/2 bath home is for sale. The home includes wood cabinets, new metal roof, new flooring and carpeting, furnace is 2 years old and been maintained. Please call our office to schedule a viewing of this home. Improvements 2023: New gas furnace, new upgraded windows and sills, new flooring and carpet. Improvements 2024: New Roof, new paint, and insulated pipes. Extras: Covered porch, heated/electric 8X10 shed, remodled master bath with walk-in shower, walk in closet, appliances side by side fridge, stove, old washer and dryer if wanted, and any furniture if wanted.

Key facts

• Covered porch
• New metal roof
• Insulated pipes

Tags

• NEW METAL ROOF
• NEW FLOORING
• NEW UPGRADED WINDOWS
• INSULATED PIPES
• COVERED PORCH
• HEATED ELECTRIC SHED

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $48k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.9% vs local median 3.2% in Wooster — 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 77/100 on livability (#195 in OH, #3,001 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities D-, commute F.
• Wooster City (town): math 47% / reading 57% proficiency, ranked #422 of 656 in OH (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.4%/yr); 154 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $335 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Recommended offer $47,045 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.58% ✓
• Cap rate: 31.93%
• Cash-on-cash: 91.58%
• DSCR: 5.07
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 97.9%
• Equity multiple: 5.96×
• Total profit: $67,349
• Equity at exit: $7,232

10-year hold

• IRR: —
• Equity multiple: 14.66×
• Total profit: $185,505
• Equity at exit: $4,193

Cash invested: $13,580 (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 44691

• Rents YoY: 8.4%
• Active inventory: 154
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$254
• Tax est. 1.5%: −$61 /mo · $728/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,036

Break-even live

Break-even rent $424

Max offer price $48,500

Occupancy floor 35%

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4715 Young Dr Wooster, OH	2.0	2.0	1000	$1,550	$1.55	44d	1	0.47mi
3574 Melrose Dr Wooster, OH	2.0	2.0	1161	$1,720	$1.48	2d	3	0.77mi

Listing history 14 events

1. 2026-06-16
   days on market $48,500 Active 52 DOM
2. 2026-06-15
   days on market $48,500 Active 51 DOM
3. 2026-06-14
   days on market $48,500 Active 49 DOM
4. 2026-06-12
   days on market $48,500 Active 48 DOM
5. 2026-06-09
   days on market $48,500 Active 45 DOM
6. 2026-06-08
   days on market $48,500 Active 44 DOM
7. 2026-06-07
   days on market $48,500 Active 43 DOM
8. 2026-06-05
   days on market $48,500 Active 40 DOM
9. 2026-06-03
   days on market $48,500 Active 39 DOM
10. 2026-06-02
    days on market $48,500 Active 38 DOM
11. 2026-06-01
    days on market $48,500 Active 37 DOM
12. 2026-05-31
    days on market $48,500 Active 36 DOM
13. 2026-05-30
    days on market $48,500 Active 35 DOM
14. 2026-04-25
    listed $48,500 Active 688-char remark

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,833
• − Mortgage interest: −$2,717
• − Property taxes: −$728
• − Insurance: −$242
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$1,411
• Taxable income: $12,402
• Est. tax owed @ 24.0%: −$2,977
• After-tax cash flow: $9,460/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations, including painting, replacing appliances and fixtures, and landscaping, to improve its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn but still functional
• Minor Kitchen appliances — Old and dated
• Minor Bathroom fixtures — Old and dated
• Minor Landscaping — Overgrown areas

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace kitchen appliances — Modern appliances improve functionality
• Resale Replace bathroom fixtures — Modern fixtures enhance functionality and appeal
• Both Landscaping — Well-maintained landscaping improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn but still functional	Minor	$500–3,000
Kitchen appliances · Old and dated	Minor	$500–3,000
Bathroom fixtures · Old and dated	Minor	$500–3,000
Landscaping · Overgrown areas	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace kitchen appliances — Modern appliances improve functionality ↑
• Resale Replace bathroom fixtures — Modern fixtures enhance functionality and appeal ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and enhances property value ↑

ⓘ 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: Wooster City
• NCES district ID: 3910032
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 57% ▼ -11.00%
• Median HH income: $43,805
• Composite: 43.82/100
• National rank: #2928
• State rank: #422 of 656 in OH

Livability — Wooster

• Score: 77/100
• State rank: #195
• US rank: #3001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wooster, OH
• County: Wayne County · 44,344 people
• City population: 44,344
• Metro: Wooster, OH
• Population (ZIP): 44,344
• Household income: $69,920
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 844.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 116,616 people
• By 2030: 116,214 · -0.3%
• By 2040: 113,891 · -2.3%
• By 2050: 109,009 · -6.5%
• By 2075: 94,622 · -18.9%
• By 2100: 70,577 · -39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · German/W. Germanic 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.6pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.0 2016: R+34.9 2012: R+21.3 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.13%
• Current HPI: 231.7627
• Rent YoY: ▲ 8.42%
• Metro: Wooster, 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