9768 Township Hwy 111

Upper Sandusky, OH 43351

$96,000D+

3 bd · 2.0 ba · 840 sqft · Built 2023 · Manufactured · Active · 250 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $825/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $-12/mo
• Annual: $-141/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $26,880

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $96k. Condition is rated fair.
• 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).
• It's been on market 250 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (14.1% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($664 loan paydown + $3k appreciation (2.9% local appreciation)).
• 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).
• 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.
• 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.
• 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.

Questions for listing agent

• 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?
• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

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