Skyline 303 Marysville Estates Plan

Marysville, OH 43040

$120,500C

2 bd · 2.0 ba · 1,088 sqft · Built — · Manufactured · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$632
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $183/mo
• Annual: $2,199/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $33,740

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $120k. Condition is rated good.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 135 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $833 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#157 in OH, #2,377 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Marysville Exempted Village (town): math 67% / reading 73% proficiency, ranked #137 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents flat; 227 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,498 units permitted in Union County in 2024 (831 in 5+ unit buildings).
• Union County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 8.1% vs local median 2.2% in Marysville — 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.
• This rent is only 16% of the median local income ($99k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.