5155 Torchwood Dr Lot 74 · Plain City, OH 43064

$110,000

3 bd · 2.0 ba · 1,400 sqft · SingleFamily · 79 Days on market

Built 1988 Good condition $79/sqft · 91% above area $655/mo HOA · 27% of rent ↓ 12% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located at Lot #74 in the Canaan Mobile Home Community this 1988 manufactured home has been completely remodeled from the inside out. Including new drywall, paint, flooring, and even a brand new roof! It offers a compact and functional living space within a rural setting in Plain City. With an open floor plan, this residence features 3 bedrooms and 2 bathrooms across approximately 1,500 Sq. Ft. of living space. Enjoy the covered front porch, or enclosed back deck, shed for extra storage as well as off-street parking. Community amenities including a pool and playground. All situated within the Jonathan Alder Local School District. See A2A Remarks!

Key facts

• New drywall
• Covered front porch
• Completely remodeled

Tags

• COMPLETELY REMODELED
• NEW DRYWALL
• NEW PAINT
• NEW FLOORING
• NEW ROOF
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.2% in Plain City — 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 79/100 on livability (#146 in OH, #2,254 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Jonathan Alder Local (rural): math 68% / reading 74% proficiency, ranked #121 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 414 active listings in the ZIP; high-income renter base; 530 units permitted in Madison County in 2024 (120 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.26%
• DSCR: 1.86
• GRM: 3.8

CMA / ARV

• ARV (median comp): $57,500
• List price: $110,000
• Delta: 91.30%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5115 Olive Branch Rd	0.17mi	4/2.0 (+1)	1,538 (+10%)	1mo	$120,000	$78	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 11.5%
• Equity multiple: 1.46×
• Total profit: $14,094
• Equity at exit: $16,401

10-year hold

• IRR: 20.7%
• Equity multiple: 2.77×
• Total profit: $54,591
• Equity at exit: $9,511

Cash invested: $30,800 (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 43064

• Active inventory: 414
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,417 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$655
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $494

Break-even live

Break-even rent $1,791

Max offer price $110,000

Occupancy floor 75%

Sensitivity live

Price	-10% $570	-5% $532	+0% $494	+5% $456	+10% $418
Rent	-10% $303	-5% $399	+0% $494	+5% $590	+10% $685
Rate	-1.0pp $550	-0.5pp $522	base $494	+0.5pp $466	+1.0pp $437

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $655 · $7,860/yr
• Likely covers: pool

Listing history 15 events

1. 2026-06-18
   days on market $110,000 Active 79 DOM
2. 2026-06-17
   days on market $110,000 Active 78 DOM
3. 2026-06-16
   days on market $110,000 Active 77 DOM
4. 2026-06-15
   days on market $110,000 Active 76 DOM
5. 2026-06-13
   pricedays on market $110,000 Active 74 DOM
6. 2026-06-09
   days on market $114,900 Active 70 DOM
7. 2026-06-08
   days on market $114,900 Active 69 DOM
8. 2026-06-07
   days on market $114,900 Active 68 DOM
9. 2026-06-03
   days on market $114,900 Active 64 DOM
10. 2026-06-02
    days on market $114,900 Active 63 DOM
11. 2026-06-01
    days on market $114,900 Active 62 DOM
12. 2026-05-31
    days on market $114,900 Active 61 DOM
13. 2026-05-04
    price $114,900 654-char remark

    Show marketing remark (654 chars)

    Located at Lot #74 in the Canaan Mobile Home Community this 1988 manufactured home has been completely remodeled from the inside out. Including new drywall, paint, flooring, and even a brand new roof! It offers a compact and functional living space within a rural setting in Plain City. With an open floor plan, this residence features 3 bedrooms and 2 bathrooms across approximately 1,500 Sq. Ft. of living space. Enjoy the covered front porch, or enclosed back deck, shed for extra storage as well as off-street parking. Community amenities including a pool and playground. All situated within the Jonathan Alder Local School District. See A2A Remarks!

14. 2026-04-13
    price $119,900 654-char remark

    Show marketing remark (654 chars)

    Located at Lot #74 in the Canaan Mobile Home Community this 1988 manufactured home has been completely remodeled from the inside out. Including new drywall, paint, flooring, and even a brand new roof! It offers a compact and functional living space within a rural setting in Plain City. With an open floor plan, this residence features 3 bedrooms and 2 bathrooms across approximately 1,500 Sq. Ft. of living space. Enjoy the covered front porch, or enclosed back deck, shed for extra storage as well as off-street parking. Community amenities including a pool and playground. All situated within the Jonathan Alder Local School District. See A2A Remarks!

15. 2026-03-31
    listed $129,900 Active 654-char remark

    Show marketing remark (654 chars)

    Located at Lot #74 in the Canaan Mobile Home Community this 1988 manufactured home has been completely remodeled from the inside out. Including new drywall, paint, flooring, and even a brand new roof! It offers a compact and functional living space within a rural setting in Plain City. With an open floor plan, this residence features 3 bedrooms and 2 bathrooms across approximately 1,500 Sq. Ft. of living space. Enjoy the covered front porch, or enclosed back deck, shed for extra storage as well as off-street parking. Community amenities including a pool and playground. All situated within the Jonathan Alder Local School District. See A2A Remarks!

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,004
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − HOA: −$7,860
• − Depreciation: −$3,200
• Taxable income: $4,942
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $4,745/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

Good 80/100 Cosmetic rehab

This 1988 manufactured home has been completely remodeled and is move-in ready, featuring new drywall, paint, flooring, and a new roof. It offers a compact and functional living space with an open floor plan, 3 bedrooms, and 2 bathrooms.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping and garden beds — Improves curb appeal and adds value
• Both New outdoor lighting — Enhances safety and curb appeal
• Both New flooring in bathrooms — Improves functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and garden beds — Improves curb appeal and adds value ↑
• Both New outdoor lighting — Enhances safety and curb appeal ↑
• Both New flooring in bathrooms — Improves functionality and aesthetics ↑

ⓘ 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: Jonathan Alder Local
• NCES district ID: 3904826
• Math proficiency: 68% ▼ -12.00%
• Reading proficiency: 74% ▼ -6.00%
• Median HH income: $67,345
• Composite: 61.84/100
• National rank: #729
• State rank: #121 of 656 in OH

Livability — Plain City

• Score: 79/100
• State rank: #146
• US rank: #2254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Union County · 57,133 people
• City population: 18,143
• Metro: Columbus, OH
• Population (ZIP): 18,143
• Household income: $139,591
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 103.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 46,050 people
• By 2030: 46,826 · +1.7%
• By 2040: 47,941 · +4.1%
• By 2050: 47,919 · +4.1%
• By 2075: 46,160 · +0.2%
• By 2100: 38,584 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 10% Two or more races 4% Hispanic / Latino 4% Black 2%
• Common ancestry: Slovak 3% Polish 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Other Asian/Pacific 6% German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+43.7) · D 27.6% · R 71.3% · Other 1.1%
• 2008→2024 swing: -20.3pp toward R · 2008: -23.4pp · 2024: -43.7pp
• All cycles: 2024: R+43.7 2020: R+41.0 2016: R+39.7 2012: R+20.4 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -132.74%
• Current HPI: 235.171
• Rent YoY: —
• Metro: Columbus, OH
• 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

-11.5% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $114,900 CBRMLS
• 2026-04-13 Price Changed $119,900 CBRMLS
• 2026-03-31 Listed $129,900 CBRMLS