3430 Michael Dr · New Carlisle, OH 45344

$65,000

3 bd · 2.0 ba · 1,224 sqft · Manufactured · 264 Days on market

Built 1990 ↓ 7% 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 +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spectacular Mobile Home with 3 bedrooms and 2 full bathrooms. Gorgeous, vaulted ceilings, open floor plan, spacious kitchen, huge living room makes for a great space to entertain and new flooring throughout. Large utility room & storage shed. attached car carport and covered patio. This is located in a 55 and older community and is a must see!!

Key facts

• Open floor plan
• Spacious kitchen
• Huge living room

Tags

• VAULTED CEILINGS
• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• HUGE LIVING ROOM
• LARGE UTILITY ROOM
• STORAGE SHED

Property features AI

Finance

• Other: Located in Brookwood Mobile Home Park; Directions: State Route 235 to East on Marquart to right on Michelle to right on Michael
• HOA & community: Association fees include sewer and trash

Exterior

• Parking: Carport
• Utilities: Public sewer; Natural gas connected; Sewer connected
• Home design: Manufactured home (mobile home); Built in 1990
• Construction: Vinyl siding; Foundation: Other (see remarks)
• Exterior features: Leased lot; Supplied water

Interior

• Kitchen: Dishwasher
• Bedrooms: Master bedroom (12 x 12); Bedroom 2 (12 x 10); Bedroom 3 (9 x 8)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Ceiling fans; Partial window coverings; 9 total rooms
• Laundry & utility: Utility room (12 x 4); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 2.4% in New Carlisle — 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 63/100 on livability (#857 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Northwestern Local (rural): math 55% / reading 63% proficiency, ranked #295 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 107 active listings in the ZIP; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 2.02% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.67%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $36,720
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3406 Christina Dr	0.15mi	3/2.0	1,184 (-3%)	1mo	$46,900	$40	87
3413 Christina Dr	0.11mi	2/2.0 (-1)	1,120 (-8%)	9mo	$32,500	$29	68
3427 Christina Dr	0.07mi	3/2.0	1,064 (-13%)	16mo	$32,000	$30	62

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: 34.8%
• Equity multiple: 2.47×
• Total profit: $26,839
• Equity at exit: $9,692

10-year hold

• IRR: 41.7%
• Equity multiple: 4.93×
• Total profit: $71,548
• Equity at exit: $5,620

Cash invested: $18,200 (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 45344

• Active inventory: 107
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $586

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 50%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $65,000 Active 264 DOM
2. 2026-06-17
   days on market $65,000 Active 263 DOM
3. 2026-06-16
   days on market $65,000 Active 262 DOM
4. 2026-06-15
   days on market $65,000 Active 261 DOM
5. 2026-06-14
   days on market $65,000 Active 259 DOM
6. 2026-06-13
   days on market $65,000 Active 258 DOM
7. 2026-06-10
   days on market $65,000 Active 256 DOM
8. 2026-06-09
   days on market $65,000 Active 255 DOM
9. 2026-06-08
   days on market $65,000 Active 254 DOM
10. 2026-06-07
    days on market $65,000 Active 253 DOM
11. 2026-06-03
    days on market $65,000 Active 249 DOM
12. 2026-06-02
    days on market $65,000 Active 248 DOM
13. 2026-06-01
    days on market $65,000 Active 247 DOM
14. 2026-05-31
    days on market $65,000 Active 246 DOM
15. 2026-05-21
    price $65,000
16. 2026-03-26
    status Active
17. 2026-03-11
    historical
18. 2025-09-11
    listed $69,900 Active

ⓘ 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: $15,732
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$1,891
• Taxable income: $6,383
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $5,506/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.

Schools (NCES district)

• District: Northwestern Local
• NCES district ID: 3904626
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $54,366
• Composite: 50.64/100
• National rank: #1836
• State rank: #295 of 656 in OH

Livability — New Carlisle

• Score: 63/100
• State rank: #857
• US rank: #16079

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark · 134,280 people
• City population: 16,841
• Metro: Springfield, OH
• Population (ZIP): 16,841
• Household income: $71,627
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 15.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.40%
• Current HPI: 244.7603
• 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

-7.0% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $65,000 WRIST
• 2026-03-26 Relisted — WRIST
• 2026-03-11 Listing Removed — WRIST
• 2025-09-11 Listed $69,900 WRIST