10552 Shasta Dr

Chardon, OH 44024

$68,000B

3 bd · 2.0 ba · 1,120 sqft · Built 2000 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,636/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$344
• Net cashflow: $822/mo
• Annual: $9,869/yr
• Cap rate: 20.81%
• Cash-on-cash: 51.83%
• DSCR: 3.31
• 1% rule: 2.41%
• Cash to close: $19,040

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#33 in OH, #318 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: commute F.
• Chardon Local (town): math 78% / reading 79% proficiency, ranked #56 of 656 in OH (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 86 active listings in the ZIP; solid renter incomes; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• Geauga County population projected to shrink 7% 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.8% vs local median 2.1% in Chardon — 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

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