8653 Hollyhock Ln

Harrisburg, OH 43146

$65,000B

2 bd · 2.0 ba · 1,038 sqft · Built 1977 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,843/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$575
• Vac / Maint / Mgmt: −$387
• Net cashflow: $432/mo
• Annual: $5,180/yr
• Cap rate: 14.26%
• Cash-on-cash: 28.46%
• DSCR: 2.27
• 1% rule: 2.84%
• Cash to close: $18,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 61/100 on livability (#942 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools F, amenities F, commute F.
• Westfall Local (rural): math 49% / reading 66% proficiency, ranked #304 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 31% of rent.
• Market conditions: 24 active listings in the ZIP; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 21y ago 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.
• 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.

Questions for listing agent

• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.