9768 Township Hwy 111 · Upper Sandusky, OH 43351

$96,000

3 bd · 2.0 ba · 840 sqft · Manufactured · 250 Days on market

Built 2023 Fair condition ↓ 45% 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 +12.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +5.2/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

Key facts

• Open concept kitchen
• Laundry area
• Septic system

Tags

• OPEN CONCEPT KITCHEN
• LAUNDRY AREA
• SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $96k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $82k (14.1% below list).
• Recommended offer: $82k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Upper Sandusky — 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 75/100 on livability (#248 in OH, #3,965 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Upper Sandusky Exempted Village (town): math 60% / reading 64% proficiency, ranked #268 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Elementary School (math 64% / reading 64%, grade B, #522 of 1,584 statewide, top 36%, 123 students, 24% FRL); Upper Sandusky Middle School (math 63% / reading 66%, grade A-, #205 of 654 statewide, top 34%, 526 students, 37% FRL); Upper Sandusky High School (math 42% / reading 62%, grade D+, #343 of 781 statewide, top 47%, 540 students, 23% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 20 units permitted in Wyandot County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $3k of equity ($664 loan paydown + $3k appreciation (2.9% local appreciation)).
• Wyandot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Recommended offer $82,491 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.38×
• Total profit: $10,119
• Equity at exit: $42,411

10-year hold

• IRR: 9.5%
• Equity multiple: 2.41×
• Total profit: $37,991
• Equity at exit: $64,781

Cash invested: $26,880 (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 43351

• Home prices YoY: 0.8%
• Active inventory: 40
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $825 medium
• Mortgage (P&I): −$503
• Tax est. 1.5%: −$120 /mo · $1,440/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $-12

Break-even live

Break-even rent $840

Max offer price $94,299

Occupancy floor 96%

Sensitivity live

Price	-10% $55	-5% $21	+0% $-12	+5% $-45	+10% $-78
Rent	-10% $-77	-5% $-44	+0% $-12	+5% $21	+10% $53
Rate	-1.0pp $37	-0.5pp $13	base $-12	+0.5pp $-37	+1.0pp $-62

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: $24,000
• Closing costs: $2,880
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $96,000 Active 250 DOM
2. 2026-06-21
   days on market $96,000 Active 249 DOM
3. 2026-06-18
   days on market $96,000 Active 247 DOM
4. 2026-06-17
   days on market $96,000 Active 246 DOM
5. 2026-06-16
   days on market $96,000 Active 245 DOM
6. 2026-06-15
   days on market $96,000 Active 244 DOM
7. 2026-06-13
   days on market $96,000 Active 242 DOM
8. 2026-06-12
   days on market $96,000 Active 241 DOM
9. 2026-06-09
   days on market $96,000 Active 238 DOM
10. 2026-06-08
    days on market $96,000 Active 237 DOM
11. 2026-06-08
    days on market $96,000 Active 236 DOM
12. 2026-06-04
    days on market $96,000 Active 232 DOM
13. 2026-06-02
    days on market $96,000 Active 231 DOM
14. 2026-06-01
    days on market $96,000 Active 230 DOM
15. 2026-05-31
    days on market $96,000 Active 229 DOM
16. 2025-11-26
    price $96,000 428-char remark

    Show marketing remark (428 chars)

    This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

17. 2025-11-23
    price $120,500 428-char remark

    Show marketing remark (428 chars)

    This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

18. 2025-11-06
    price $125,500 428-char remark

    Show marketing remark (428 chars)

    This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

19. 2025-10-24
    price $149,995 428-char remark

    Show marketing remark (428 chars)

    This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

20. 2025-10-14
    listed $175,000 Active 428-char remark

    Show marketing remark (428 chars)

    This 2023 Mobile Home has 3 bedrooms, 2 full bathrooms,a laundry area, and an open concept kitchen, dining and living room area. All furnishings included in the sale price. Wheelchair- assessable ramp to the front door. Lot rent $300 a month. Renter pays for electricity and city water and they are responsible for maintaining their own lot. Home has a septic system. The measurements on the length and width are approximate.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,899
• − Mortgage interest: −$5,377
• − Property taxes: −$1,440
• − Insurance: −$480
• − Repairs & maintenance: −$792
• − Management: −$792
• − Depreciation: −$2,793
• Taxable loss: −$1,775
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $285/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2023 mobile home requires moderate repairs and maintenance to improve its condition and value. New siding, paint, and flooring would significantly enhance its curb appeal and interior comfort.

Repairs flagged

• Major siding — Significant damage and wear
• Major paint — Worn and discolored
• Major flooring — Worn and damaged

Value-add opportunities

• Both new siding — Enhances curb appeal and durability
• Both new paint — Improves interior and exterior aesthetics
• Both new flooring — Enhances comfort and durability

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant damage and wear	Major	$15,000–50,000
paint · Worn and discolored	Major	$15,000–50,000
flooring · Worn and damaged	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both new siding — Enhances curb appeal and durability ↑
• Both new paint — Improves interior and exterior aesthetics ↑
• Both new flooring — Enhances comfort and durability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Upper Sandusky Exempted Village
• NCES district ID: 3910024
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $44,745
• Composite: 52.22/100
• National rank: #1603
• State rank: #268 of 656 in OH

Livability — Upper Sandusky

• Score: 75/100
• State rank: #248
• US rank: #3965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Upper Sandusky, OH
• County: Wyandot · 23,050 people
• Population (ZIP): 10,568
• Household income: $71,748
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 3.6

Population outlook (Wyandot County) Hauer SSP2

• Today (2025): 21,485 people
• By 2030: 20,883 · -2.8%
• By 2040: 19,425 · -9.6%
• By 2050: 17,815 · -17.1%
• By 2075: 14,208 · -33.9%
• By 2100: 10,744 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Serbian 5% Slovak 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Wyandot

• 2024 margin: Solid R (+51.2) · D 24.0% · R 75.2%
• 2008→2024 swing: -34.7pp toward R · 2008: -16.5pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+50.3 2016: R+46.8 2012: R+20.4 2008: R+16.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.86%
• Current HPI: 343.75
• 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

-45.1% since first listed

5 events — show timeline

• 2025-11-26 Price Changed $96,000 NORIS
• 2025-11-23 Price Changed $120,500 NORIS
• 2025-11-06 Price Changed $125,500 NORIS
• 2025-10-24 Price Changed $149,995 NORIS
• 2025-10-14 Listed $175,000 NORIS