2316 Deerfield Dr

Atwater, OH 44411

$30,000B+

3 bd · 1.0 ba · 850 sqft · Built 2006 · Manufactured · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,167/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $715/mo
• Annual: $8,574/yr
• Cap rate: 34.87%
• Cash-on-cash: 102.07%
• DSCR: 5.54
• 1% rule: 3.89%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 31 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (3.4% local appreciation)).
• Location reads 64/100 on livability (#795 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Southeast Local (rural): math 54% / reading 58% proficiency, ranked #334 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 11 active listings in the ZIP; solid renter incomes; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• 4 sale attempts since 24y 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.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• 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.