8312 OH-366 #21 · Russells Point, OH 43348

$6,850

2 bd · 1.0 ba · 460 sqft · Manufactured · 82 Days on market

Built 1964 $15/sqft · 67% below area ↓ 24% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a price for this fixer upper in Cottonwood Estates! Heavy renovation is needed for this 1964 Shaw Wynn mobile, but some repairs look to have already begun. Updated HVAC, plumbing, electrical and drywall have been started and the price point allows for much improvement to continue. Come see this one today!

Key facts

• Updated electrical
• Updated drywall
• Updated hvac

Tags

• UPDATED HVAC
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• UPDATED DRYWALL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $7k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($803 rent vs $7k).
• Recommended offer: $6k (6.0% below list) — sets the bar for market timing.
• Cap rate 109.2% vs local median 2.7% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: 49 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 $48 of loan paydown is wiped out by about $206 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($6k) is reasonable based on typical stale-listing flexibility.

Recommended offer $6,439 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 11.72% ✓
• Cap rate: 109.15%
• Cash-on-cash: 367.36%
• DSCR: 17.35
• GRM: 0.7

CMA / ARV

• ARV (median comp): $20,950
• List price: $6,850
• Delta: -67.30%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8312 OH-366 #3	0.04mi	2/1.0	480 (+4%)	14mo	$28,500	$59	80
8312 SR 366 #14	0.04mi	2/1.0	440 (-4%)	16mo	$41,750	$95	77

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: —
• Equity multiple: 19.93×
• Total profit: $36,299
• Equity at exit: $1,021

10-year hold

• IRR: —
• Equity multiple: 42.61×
• Total profit: $79,811
• Equity at exit: $592

Cash invested: $1,918 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $803 medium
• Mortgage (P&I): −$36
• Tax est. 1.5%: −$9 /mo · $103/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $587

Break-even live

Break-even rent $60

Max offer price $6,850

Occupancy floor 22%

Sensitivity live

Price	-10% $592	-5% $590	+0% $587	+5% $585	+10% $582
Rent	-10% $524	-5% $555	+0% $587	+5% $619	+10% $651
Rate	-1.0pp $591	-0.5pp $589	base $587	+0.5pp $585	+1.0pp $584

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: $1,712
• Closing costs: $206
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $6,850 Active 82 DOM
2. 2026-06-18
   days on market $6,850 Active 80 DOM
3. 2026-06-17
   days on market $6,850 Active 79 DOM
4. 2026-06-16
   days on market $6,850 Active 78 DOM
5. 2026-06-15
   days on market $6,850 Active 77 DOM
6. 2026-06-13
   days on market $6,850 Active 75 DOM
7. 2026-06-12
   days on market $6,850 Active 74 DOM
8. 2026-06-09
   days on market $6,850 Active 71 DOM
9. 2026-06-08
   days on market $6,850 Active 70 DOM
10. 2026-06-08
    days on market $6,850 Active 69 DOM
11. 2026-06-07
    days on market $6,850 Active 68 DOM
12. 2026-06-04
    days on market $6,850 Active 65 DOM
13. 2026-06-02
    days on market $6,850 Active 64 DOM
14. 2026-06-01
    days on market $6,850 Active 63 DOM
15. 2026-05-31
    days on market $6,850 Active 62 DOM
16. 2026-05-05
    price $6,850 311-char remark

    Show marketing remark (311 chars)

    What a price for this fixer upper in Cottonwood Estates! Heavy renovation is needed for this 1964 Shaw Wynn mobile, but some repairs look to have already begun. Updated HVAC, plumbing, electrical and drywall have been started and the price point allows for much improvement to continue. Come see this one today!

17. 2026-04-17
    price $7,700 311-char remark

    Show marketing remark (311 chars)

    What a price for this fixer upper in Cottonwood Estates! Heavy renovation is needed for this 1964 Shaw Wynn mobile, but some repairs look to have already begun. Updated HVAC, plumbing, electrical and drywall have been started and the price point allows for much improvement to continue. Come see this one today!

18. 2026-03-30
    listed $9,000 Active 311-char remark

    Show marketing remark (311 chars)

    What a price for this fixer upper in Cottonwood Estates! Heavy renovation is needed for this 1964 Shaw Wynn mobile, but some repairs look to have already begun. Updated HVAC, plumbing, electrical and drywall have been started and the price point allows for much improvement to continue. Come see this one today!

ⓘ 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: $9,638
• − Mortgage interest: −$384
• − Property taxes: −$103
• − Insurance: −$34
• − Repairs & maintenance: −$771
• − Management: −$771
• − Depreciation: −$199
• Taxable income: $7,376
• Est. tax owed @ 24.0%: −$1,770
• After-tax cash flow: $5,276/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: 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 — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

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 (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

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: ▼ -108.07%
• Current HPI: 261.3567
• 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

-23.9% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $6,850 WRIST
• 2026-04-17 Price Changed $7,700 WRIST
• 2026-03-30 Listed $9,000 WRIST