42460 Mount Hope Rd

Lafferty, OH 43977

$180,000D

3 bd · 1.0 ba · 1,350 sqft · Built 1994 · Manufactured · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,249/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $-161/mo
• Annual: $-1,928/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• 1% rule: 0.69%
• Cash to close: $50,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (30.6% below list).
• It's been on market 28 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (30.6% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 45/100 on livability (#1,186 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Union Local (rural): math 39% / reading 60% proficiency, ranked #450 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union Local Elementary School (math 49% / reading 58%, grade C, #834 of 1,584 statewide, top 53%, 635 students, 43% FRL); Union Local Middle School (math 39% / reading 61%, grade C, #416 of 654 statewide, top 64%, 342 students, 32% FRL); Union Local High School (math 17% / reading 62%, grade F, #528 of 781 statewide, top 71%, 434 students, 26% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 9 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.