4287 Manchester Ave NW #7

North Lawrence, OH 44666

$25,000B

2 bd · 1.0 ba · 728 sqft · Built 1980 · Manufactured · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $838/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$19
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $512/mo
• Annual: $6,138/yr
• Cap rate: 30.85%
• Cash-on-cash: 87.69%
• DSCR: 4.90
• 1% rule: 3.35%
• Cash to close: $7,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $25k.
• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $25k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#1,133 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime C-, employment D+, schools F.
• Tuslaw Local (rural): math 78% / reading 73% proficiency, ranked #88 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 7 active listings in the ZIP; solid renter incomes; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.
• This rent is only 10% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.