25 Horseshoe Dr · Newark, OH 43055

$59,000

2 bd · 1.0 ba · 784 sqft · SingleFamily · 1 Days on market

Built 1986 Good condition 8,712 sqft lot $350/mo HOA · 31% of rent

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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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable, updated, and move-in ready! This charming and well-maintained 2-bedroom, 1-bath manufactured home has been thoughtfully updated and meticulously cared for by its current owner. Inside, you'll find a bright and inviting living space, central HVAC for year-round comfort, and the convenience of an included washer and dryer. Outside, the property offers three dedicated parking spaces and low-maintenance living in a quiet community. Located within walking distance of Heritage Middle School and just minutes from shopping, restaurants, parks, healthcare, and all the everyday conveniences Newark has to offer, the location is hard to beat. With lot rent of just $350 per month, this is an

Key facts

• Central hvac
• Minutes from parks
• 8,712 sq ft lot

Tags

• CENTRAL HVAC
• THREE DEDICATED PARKING SPACES
• MINUTES FROM SHOPPING
• MINUTES FROM RESTAURANTS
• MINUTES FROM PARKS
• MINUTES FROM HEALTHCARE

Property features AI

Finance

• HOA & community: Homeowners association with a $350 monthly fee; Subdivision: Towns MHP; Township: Newark

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer
• Home design: One-story residence; Other residential without deeded land; No common walls; Built in 1986
• Construction: Other foundation
• Exterior features: Patio

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Laminate flooring; Carpet; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Insulated windows throughout; Living area approximately 784

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$166,208) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Cap rate 9.0% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $59,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.91% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $166,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
481 Oakwood Ave	0.35mi	2/1.0	768 (-2%)	1mo	$90,000	$117	79
493 Allston Ave	0.23mi	2/1.5	826 (+5%)	4mo	$175,000	$212	75
9 Elcar	0.12mi	2/2.0	828 (+6%)	15mo	$75,800	$92	68
855 Jones Ave	0.50mi	2/1.0	780 (-0%)	13mo	$175,000	$224	65
98 Fairmont Ave	0.46mi	3/1.0 (+1)	810 (+3%)	8mo	$155,000	$191	61
506 Lexington Ave	0.27mi	2/1.0	672 (-14%)	7mo	$165,000	$246	58
460 Allston Ave	0.30mi	3/1.0 (+1)	864 (+10%)	8mo	$185,000	$214	58
483 Allston Ave	0.23mi	3/1.0 (+1)	888 (+13%)	6mo	$208,000	$234	57
9324 NE Butler Rd	0.47mi	2/1.0	884 (+13%)	6mo	$225,000	$255	52
368 N Cedar St	0.43mi	3/1.0 (+1)	868 (+11%)	10mo	$180,000	$207	49
32 Magnolia Ave	0.75mi	2/1.0	843 (+8%)	15mo	$147,000	$174	40
500 Manning St	0.69mi	2/1.0	891 (+14%)	13mo	$175,000	$196	34

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.85×
• Total profit: $-2,524
• Equity at exit: $8,797

10-year hold

• IRR: 3.1%
• Equity multiple: 1.20×
• Total profit: $3,371
• Equity at exit: $5,101

Cash invested: $16,520 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$350
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $131

Break-even live

Break-even rent $959

Max offer price $59,000

Occupancy floor 83%

Sensitivity live

Price	-10% $172	-5% $151	+0% $131	+5% $110	+10% $90
Rent	-10% $42	-5% $86	+0% $131	+5% $175	+10% $220
Rate	-1.0pp $161	-0.5pp $146	base $131	+0.5pp $116	+1.0pp $100

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
494 Allston Ave Newark, OH	2.0	1.0	724	$1,150	$1.59	44d	1	0.24mi
420 Indiana St Newark, OH	1.0	1.0	750	$800	$1.07	2d	1	0.54mi
270 Everett Ave Newark, OH	3.0	1.0	864	$1,425	$1.65	2d	1	0.84mi
51 Mill St Newark, OH	2.0	1.0	1024	$1,200	$1.17	2d	1	0.89mi

HOA detail

• Monthly dues: $350 · $4,200/yr

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $59,000 Coming Soon 1 DOM

ⓘ 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 (unshaded) · 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,498
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − HOA: −$4,200
• − Depreciation: −$1,716
• Taxable income: $937
• Est. tax owed @ 24.0%: −$225
• After-tax cash flow: $1,345/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated 2-bedroom, 1-bath manufactured home is move-in ready and offers a great location with low maintenance and ample parking.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Upgrading the flooring to hardwood or tile — Improves the overall aesthetic and can increase both resale and rental value
• Both Upgrading the appliances — Modernizes the kitchen and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Upgrading the flooring to hardwood or tile — Improves the overall aesthetic and can increase both resale and rental value ↑
• Both Upgrading the appliances — Modernizes the kitchen and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, OH
• 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

1 event — show timeline

• 2026-06-18 Coming Soon $59,000 CBRMLS