11377 Township Road 266 55 · Chippewa Park, OH 43331

$45,900

3 bd · 1.0 ba · 480 sqft · Manufactured · 4 Days on market

Built 2004

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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 +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this gorgeous park model just north of Sassafras Point! This 2018 Kropf Island series boasts beautiful cathedral ceilings, tons of storage, custom cabinets and blinds, built in wine chiller and inviting electric fireplace! Enjoy many amenities such as the community pool, ba-ball court and shelter house. Various docks nearby and also some of Indian Lake's best hang-outs all nearby! 2023 Golf Cart included with sale. * Please Note cute puppy in pic, not included in sale.

Key facts

• Double loft
• Large back yard
• Vaulted ceilings

Tags

• COVERED CONCRETE PATIO
• SHED WITH BUILT IN STORAGE
• FIREPIT PATIO AREA
• LARGE BACK YARD
• VAULTED CEILINGS
• DOUBLE LOFT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $46k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Cap rate 25.2% vs local median 4.1% in Chippewa Park — 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 49/100 on livability (#1,173 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 109 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Logan County population projected at -15% 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $43k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $45,900

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 2.87% ✓
• Cap rate: 25.18%
• Cash-on-cash: 67.46%
• DSCR: 4.00
• GRM: 2.9

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: 66.8%
• Equity multiple: 4.00×
• Total profit: $38,601
• Equity at exit: $6,844

10-year hold

• IRR: 71.0%
• Equity multiple: 8.23×
• Total profit: $92,950
• Equity at exit: $3,969

Cash invested: $12,852 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 109
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $723

Break-even live

Break-even rent $402

Max offer price $45,900

Occupancy floor 40%

Sensitivity live

Price	-10% $754	-5% $738	+0% $723	+5% $707	+10% $691
Rent	-10% $619	-5% $671	+0% $723	+5% $775	+10% $827
Rate	-1.0pp $746	-0.5pp $734	base $723	+0.5pp $711	+1.0pp $699

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $45,900 Active 4 DOM
2. 2026-06-18
   days on market $45,900 Active 2 DOM
3. 2026-06-17
   remarks 691-char remark
4. 2026-06-17
   pricedays on marketlisting id $45,900 Active 1 DOM
5. 2026-06-16
   pricedays on market $89,900 Active 20 DOM
6. 2026-06-15
   days on market $88,900 Active 19 DOM
7. 2026-06-13
   days on market $88,900 Active 17 DOM
8. 2026-06-12
   days on market $88,900 Active 16 DOM
9. 2026-06-09
   days on market $88,900 Active 13 DOM
10. 2026-06-08
    days on market $88,900 Active 12 DOM
11. 2026-06-08
    days on market $88,900 Active 11 DOM
12. 2026-06-07
    days on market $88,900 Active 10 DOM
13. 2026-06-04
    days on market $88,900 Active 7 DOM
14. 2026-06-02
    days on market $88,900 Active 6 DOM
15. 2026-06-01
    days on market $88,900 Active 5 DOM
16. 2026-05-31
    days on market $88,900 Active 4 DOM
17. 2026-05-28
    listed $88,900 Active
18. 2025-09-10
    soldstatus $60,000 Closed 491-char remark

    Show marketing remark (491 chars)

    Come check out this gorgeous park model just north of Sassafras Point! This 2018 Kropf Island series boasts beautiful cathedral ceilings, tons of storage, custom cabinets and blinds, built in wine chiller and inviting electric fireplace! Enjoy many amenities such as the community pool, ba-ball court and shelter house. Various docks nearby and also some of Indian Lake's best hang-outs all nearby! 2023 Golf Cart included with sale. * Please Note cute puppy in pic, not included in sale.

19. 2025-08-14
    listed $65,000 Active 491-char remark

    Show marketing remark (491 chars)

    Come check out this gorgeous park model just north of Sassafras Point! This 2018 Kropf Island series boasts beautiful cathedral ceilings, tons of storage, custom cabinets and blinds, built in wine chiller and inviting electric fireplace! Enjoy many amenities such as the community pool, ba-ball court and shelter house. Various docks nearby and also some of Indian Lake's best hang-outs all nearby! 2023 Golf Cart included with sale. * Please Note cute puppy in pic, not included in sale.

20. 2020-05-21
    soldstatus $66,000 540-char remark

    Show marketing remark (540 chars)

    Look at this gorgeous park model located just north of Sassafras Point! This 2019 Kropf Island series boasts beautiful cathedral ceilings, a refreshing color scheme, pocket door, under-the-bed storage, custom blinds, a sleeper sofa, and a color-changing electric fireplace! Enjoy many amenities such as the community pool, putt-putt, basketball court and shelter house. There are various boat docks for rent nearby and lot fees for the 2020 season are included. Don't miss your chance for your very own place at Indian Lake, call today!

21. 2020-03-22
    listed $69,900 540-char remark

    Show marketing remark (540 chars)

    Look at this gorgeous park model located just north of Sassafras Point! This 2019 Kropf Island series boasts beautiful cathedral ceilings, a refreshing color scheme, pocket door, under-the-bed storage, custom blinds, a sleeper sofa, and a color-changing electric fireplace! Enjoy many amenities such as the community pool, putt-putt, basketball court and shelter house. There are various boat docks for rent nearby and lot fees for the 2020 season are included. Don't miss your chance for your very own place at Indian Lake, call today!

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,794
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$230
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$1,335
• Taxable income: $8,442
• Est. tax owed @ 24.0%: −$2,026
• After-tax cash flow: $6,644/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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Chippewa Park

• Score: 49/100
• State rank: #1173
• US rank: #25758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• 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

+27.2% since first listed

5 events — show timeline

• 2026-05-28 Listed $88,900 FSBO.com
• 2025-09-10 Sold (MLS) $60,000 WCARE
• 2025-08-14 Listed $65,000 WCARE
• 2020-05-21 Sold (MLS) $66,000 WRIST
• 2020-03-22 Listed $69,900 WRIST