234 E Harrison St Unit S8 · Lakeview, OH 43331

$6,000

2 bd · 1.0 ba · 968 sqft · Manufactured · 184 Days on market

Built 1968 ↓ 60% 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 +5.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

Key facts

• Blank slate
• Near lakeview harbor
• Rough plumbing

Tags

• BLANK SLATE
• ROUGH PLUMBING
• PARTIAL ROUGH ELECTRIC
• ON SITE BUILDING MATERIALS
• CONVENIENTLY LOCATED
• NEAR LAKEVIEW HARBOR

🏗️ New construction. The $6,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $48,393.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $6k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $6k).
• Recommended offer: $5k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.4% vs local median 5.8% in Lakeview — 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 (#836 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: 112 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $335 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($5k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (60%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 12.1% of price.

Recommended offer $5,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.32% ✓
• Cap rate: 29.44%
• Cash-on-cash: 82.67%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

• ARV (median comp): $48,393
• List price: $6,000
• Delta: -87.60%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 E Harrison St Unit S8	0.00mi	2/1.0	968 (0%)	0mo	$4,000	$4	100

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: 83.0%
• Equity multiple: 4.81×
• Total profit: $51,639
• Equity at exit: $7,216

10-year hold

• IRR: 86.3%
• Equity multiple: 9.98×
• Total profit: $121,624
• Equity at exit: $4,184

Cash invested: $13,550 (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: 112
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$254
• Tax est. 1.5%: −$60 /mo · $726/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $934

Break-even live

Break-even rent $423

Max offer price $48,393

Occupancy floor 37%

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: $12,098
• Closing costs: $1,452
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8926 Franklin Ave Unit B Lakeview, OH	2.0	1.0	696	$1,605	$2.31	1d	1	0.53mi
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	1d	1	0.53mi

Listing history 9 events

1. 2026-06-04
   statusdays on market $6,000 Pending 184 DOM
2. 2026-06-02
   days on market $6,000 Active 183 DOM
3. 2026-06-01
   days on market $6,000 Active 182 DOM
4. 2026-05-31
   days on market $6,000 Active 181 DOM
5. 2026-04-03
   status Active 624-char remark

   Show marketing remark (624 chars)

   Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

6. 2026-04-03
   price $6,000 624-char remark

   Show marketing remark (624 chars)

   Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

7. 2026-03-31
   historical 624-char remark

   Show marketing remark (624 chars)

   Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

8. 2026-01-15
   price $9,000 624-char remark

   Show marketing remark (624 chars)

   Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

9. 2025-11-28
   listed $15,000 Active 624-char remark

   Show marketing remark (624 chars)

   Lake life awaits in South Shore Estates. This 1968 Holly Park mobile home is currently under construction and offers a rare opportunity for a hands-on owner or investor. The interior is not finished, providing a blank slate to design and complete to your preferences. It is currently set up as a 2/1 but could be expanded to a third bedroom. Rough plumbing and partial rough electric is completed. On site building materials will convey. The home is conveniently located near Lakeview Harbor and the public boat ramp, the walking trail, La Playa Mexican Restaurant, Downtown Discount Grocery, and many other local amenities.

ⓘ 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 (shaded) · 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: $19,260
• − Mortgage interest: −$2,711
• − Property taxes: −$726
• − Insurance: −$242
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$1,408
• Taxable income: $11,092
• Est. tax owed @ 24.0%: −$2,662
• After-tax cash flow: $8,540/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 — Lakeview

• Score: 63/100
• State rank: #836
• US rank: #15632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeview, OH
• 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

-60.0% since first listed

5 events — show timeline

• 2026-04-03 Relisted — WRIST
• 2026-04-03 Price Changed $6,000 WRIST
• 2026-03-31 Listing Removed — WRIST
• 2026-01-15 Price Changed $9,000 WRIST
• 2025-11-28 Listed $15,000 WRIST