14996 Pleasant Valley Rd #65

Chillicothe, OH 45601

$84,900B

3 bd · 2.0 ba · 1,140 sqft · Built 2026 · Manufactured · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,382/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $505/mo
• Annual: $6,063/yr
• Cap rate: 13.43%
• Cash-on-cash: 25.50%
• DSCR: 2.13
• 1% rule: 1.63%
• Cash to close: $23,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.
• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 56 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Union-Scioto Local (town): math 54% / reading 61% proficiency, ranked #331 of 656 in OH (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 178 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).
• Ross County population projected at -12% 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.4% vs local median 4.2% in Chillicothe — 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.

Questions for listing agent

• It's been on market 56 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.