1400 S Clay St Lot 12 · Delphos, OH 45833

$62,900

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 12 Days on market

Built 2018

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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 +6.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1400 S Clay Street Lot 12 Delphos, Ohio. This mobile home is located in Southside Community Park. It is a 2018 model, that offers 3 bedrooms 2 bathrooms, large living room dining area, kitchen and laundry room. There is a storage shed and a covered Front Porch. You should check this out today. Lot rent is approximately 475/ per month, Buyer must be approved by the Park Owner.

Key facts

• Built 2018
• Listed 12 days

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Residential property; Updated/remodeled condition
• Construction: Slab foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Includes dishwasher, microwave, oven, refrigerator
• Bedrooms: Total of 7 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Updated/remodeled interior; Dishwasher; Microwave; Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $63k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Cap rate 14.4% vs local median 3.9% in Delphos — 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 72/100 on livability (#378 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Delphos City (town): math 77% / reading 75% proficiency, ranked #91 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Franklin Elementary School (math 87% / reading 77%, grade A+, #116 of 1,584 statewide, top 9%, 339 students, 46% FRL); Jefferson Middle School (math 79% / reading 73%, grade A, #74 of 654 statewide, top 12%, 244 students, 46% FRL); Jefferson High School (math 57% / reading 82%, grade B, #106 of 781 statewide, top 16%, 272 students, 36% FRL).
• Market conditions: 16 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $435 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Van Wert County population projected at -11% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $62,900

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 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?
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: 1.73% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 4.8

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $16,996
• Equity at exit: $9,379

10-year hold

• IRR: 31.4%
• Equity multiple: 3.83×
• Total profit: $49,855
• Equity at exit: $5,438

Cash invested: $17,612 (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 45833

• Home prices YoY: -15.4%
• Active inventory: 16
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$330
• Tax est. 1.5%: −$79 /mo · $944/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $427

Break-even live

Break-even rent $550

Max offer price $62,900

Occupancy floor 56%

Sensitivity live

Price	-10% $470	-5% $448	+0% $427	+5% $405	+10% $383
Rent	-10% $340	-5% $384	+0% $427	+5% $470	+10% $513
Rate	-1.0pp $458	-0.5pp $443	base $427	+0.5pp $410	+1.0pp $394

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   statusdays on market $62,900 Pending 12 DOM
2. 2026-06-08
   days on market $62,900 Active 11 DOM
3. 2026-06-08
   days on market $62,900 Active 10 DOM
4. 2026-06-07
   days on market $62,900 Active 9 DOM
5. 2026-06-04
   days on market $62,900 Active 6 DOM
6. 2026-06-02
   days on market $62,900 Active 5 DOM
7. 2026-06-01
   days on market $62,900 Active 4 DOM
8. 2026-05-31
   days on market $62,900 Active 3 DOM
9. 2026-05-28
   listed $62,900 Active
10. 2025-05-02
    soldstatus $55,000 Closed 389-char remark

    Show marketing remark (389 chars)

    Welcome to 1400 S Clay Street Lot 12 Delphos, Ohio. This mobile home is located in Southside Community Park. It is a 2018 model, that offers 3 bedrooms 2 bathrooms, large living room dining area, kitchen and laundry room. There is a storage shed and a covered Front Porch. You should check this out today. Lot rent is approximately 475/ per month, Buyer must be approved by the Park Owner.

11. 2025-04-28
    status Pending 389-char remark

    Show marketing remark (389 chars)

    Welcome to 1400 S Clay Street Lot 12 Delphos, Ohio. This mobile home is located in Southside Community Park. It is a 2018 model, that offers 3 bedrooms 2 bathrooms, large living room dining area, kitchen and laundry room. There is a storage shed and a covered Front Porch. You should check this out today. Lot rent is approximately 475/ per month, Buyer must be approved by the Park Owner.

12. 2025-04-17
    listed $55,000 Active 389-char remark

    Show marketing remark (389 chars)

    Welcome to 1400 S Clay Street Lot 12 Delphos, Ohio. This mobile home is located in Southside Community Park. It is a 2018 model, that offers 3 bedrooms 2 bathrooms, large living room dining area, kitchen and laundry room. There is a storage shed and a covered Front Porch. You should check this out today. Lot rent is approximately 475/ per month, Buyer must be approved by the Park Owner.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 17 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: $13,083
• − Mortgage interest: −$3,523
• − Property taxes: −$944
• − Insurance: −$314
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$1,830
• Taxable income: $4,379
• Est. tax owed @ 24.0%: −$1,051
• After-tax cash flow: $4,069/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: Delphos City
• NCES district ID: 3904388
• Math proficiency: 77% ▼ -8.00%
• Reading proficiency: 75% ▼ -8.00%
• Median HH income: $49,400
• Composite: 64.3/100
• National rank: #557
• State rank: #91 of 656 in OH

Livability — Delphos

• Score: 72/100
• State rank: #378
• US rank: #6142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Van Wert · 34,605 people
• City population: 10,822
• Population (ZIP): 10,822
• Household income: $66,919
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 2.2

Population outlook (Van Wert County) Hauer SSP2

• Today (2025): 28,235 people
• By 2030: 27,793 · -1.6%
• By 2040: 26,650 · -5.6%
• By 2050: 25,251 · -10.6%
• By 2075: 22,247 · -21.2%
• By 2100: 18,559 · -34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Serbian 2% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Van Wert

• 2024 margin: Solid R (+58.5) · D 20.4% · R 78.9%
• 2008→2024 swing: -31.3pp toward R · 2008: -27.2pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+57.4 2016: R+56.4 2012: R+40.5 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.82%
• Current HPI: 218.1437
• 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

+14.4% since first listed

4 events — show timeline

• 2026-05-28 Listed $62,900 WCARE
• 2025-05-02 Sold (MLS) $55,000 WCARE
• 2025-04-28 Pending — WCARE
• 2025-04-17 Listed $55,000 WCARE