250 S Nelson Ave #41 · Wilmington, OH 45177

$54,500

2 bd · 1.5 ba · 980 sqft · Manufactured · 19 Days on market

Built 1992 Good condition

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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
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Newly remodeled home. Updates include all the following and more: Laminate flooring, carpet in the bedrooms, Toilets, Vanities, Bathtub, Faucets, Lighting, Kitchen Cabinets with soft close doors/drawers, sink and countertop. New Stainless Steel Whirlpool side-by-side refrigerator with water and ice in the door, new Whirlpool propane gas Range. New Window Blinds, Ceiling fan, Skirting and the Roof has been coated/sealed. Home has an electric forced air furnace, and 4 window a/c units are included. Location is near the Clinton County Fairgrounds and close to all amenities.

Key facts

• Laminate flooring
• New window blinds
• Ceiling fan

Tags

• REMODELED HOME
• LAMINATE FLOORING
• CARPET IN THE BEDROOMS
• NEW WINDOW BLINDS
• CEILING FAN
• ELECTRIC FORCED AIR FURNACE

Property features AI

Finance

• Other: Zoned residential
• Financial info: Lease not considered
• HOA & community: HOA present with a monthly fee of $460 (coverage details listed as other)

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Public water; Public sewer and private sewer; Propane gas
• Home design: Ranch style; Manufactured single-family; One level
• Construction: Metal roof; Other construction materials; Other foundation
• Exterior features: Covered deck/patio; Double-pane vinyl insulated windows

Interior

• Kitchen: Wood flooring; Oven/Range; Refrigerator
• Bedrooms: 2 bedrooms; Primary bedroom on level 1 (13 x 13); Second bedroom on level 1 (13 x 11)
• Flooring: Wood floor in living room and kitchen
• Bathrooms: 1 full bathroom on level 1; 1 half bathroom
• Heating & cooling: Electric forced-air heating; Window air conditioning unit; Electric water heating
• Interior features: Cathedral ceiling; 7 total rooms
• Laundry & utility: Main-level laundry room (10 x 5)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $54k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 6.2% in Wilmington — 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 77/100 on livability (#202 in OH, #3,127 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities D, commute F.
• Wilmington City (town): math 42% / reading 51% proficiency, ranked #492 of 656 in OH (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 107 active listings in the ZIP; 119 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $377 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clinton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Recommended offer $53,682 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.60% ✓
• Cap rate: 22.61%
• Cash-on-cash: 58.28%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 56.9%
• Equity multiple: 3.52×
• Total profit: $38,392
• Equity at exit: $8,126

10-year hold

• IRR: 61.8%
• Equity multiple: 7.18×
• Total profit: $94,297
• Equity at exit: $4,712

Cash invested: $15,260 (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 45177

• Active inventory: 107
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$286
• Tax est. 1.5%: −$68 /mo · $818/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $741

Break-even live

Break-even rent $477

Max offer price $54,500

Occupancy floor 43%

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: $13,625
• Closing costs: $1,635
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $54,500 Active 19 DOM
2. 2026-06-17
   days on market $54,500 Active 18 DOM
3. 2026-06-16
   days on market $54,500 Active 17 DOM
4. 2026-06-15
   days on market $54,500 Active 16 DOM
5. 2026-06-14
   days on market $54,500 Active 14 DOM
6. 2026-06-10
   days on market $54,500 Active 11 DOM
7. 2026-06-09
   days on market $54,500 Active 10 DOM
8. 2026-06-08
   days on market $54,500 Active 9 DOM
9. 2026-06-07
   days on market $54,500 Active 8 DOM
10. 2026-06-05
    days on market $54,500 Active 5 DOM
11. 2026-06-03
    days on market $54,500 Active 4 DOM
12. 2026-06-02
    days on market $54,500 Active 3 DOM
13. 2026-06-01
    days on market $54,500 Active 2 DOM
14. 2026-05-31
    days on marketlisting id $54,500 Active 1 DOM
15. 2026-05-29
    historical
16. 2026-05-27
    listed $54,500 Active

ⓘ 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 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,978
• − Mortgage interest: −$3,053
• − Property taxes: −$818
• − Insurance: −$272
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$1,585
• Taxable income: $8,534
• Est. tax owed @ 24.0%: −$2,048
• After-tax cash flow: $6,845/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 · 13 photos

Good 80/100 Cosmetic rehab

This newly remodeled mobile home is in good condition with updated appliances and fixtures. It is move-in ready with a good exterior and landscaping.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New outdoor lighting — Enhances safety and curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New outdoor lighting — Enhances safety and curb appeal. ↑

ⓘ 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: Wilmington City
• NCES district ID: 3904511
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 51% ▼ -6.00%
• Median HH income: $43,201
• Composite: 39.2/100
• National rank: #4020
• State rank: #492 of 656 in OH

Livability — Wilmington

• Score: 77/100
• State rank: #202
• US rank: #3127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, OH
• County: Clinton · 46,911 people
• Population (ZIP): 22,442
• Household income: $70,483
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 9.5

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 41,352 people
• By 2030: 40,831 · -1.3%
• By 2040: 39,049 · -5.6%
• By 2050: 36,408 · -12.0%
• By 2075: 29,652 · -28.3%
• By 2100: 20,736 · -49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+54.6) · D 22.3% · R 76.9%
• 2008→2024 swing: -24.3pp toward R · 2008: -30.3pp · 2024: -54.6pp
• All cycles: 2024: R+54.6 2020: R+52.6 2016: R+52.6 2012: R+35.2 2008: R+30.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.35%
• Current HPI: 238.9182
• 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

2 events — show timeline

• 2026-05-29 Listing Removed — Cincy MLS
• 2026-05-27 Listed $54,500 Cincy MLS