228 Troy Oaks Dr · Hiram, OH 44234

$35,500

2 bd · 2.0 ba · 866 sqft · Manufactured public records · 42 Days on market

Built 2000 ↓ 44% since listing

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

AFFORDABLE LIVING at it's finest. This FANTASTIC 2 bedroom, 2 full bathroom manufactured home nestled in the desirable Troy Oaks community; which is very near to the beautiful LaDue Reservoir and all it's amenities. You are located on a Cul-de-sac which provides quiet privacy. The second bedroom can also serve as an office for the work from home new owner. The kitchen is bright with natural light along with new skylights (2018), plenty of cabinets and counter space to prepare homecooked meals (appliances are included)! Many mechanicals recently replaced - HVAC (furnace & air) 2024, Hot water tank 2023, roof -2011. The laundry/mudroom. All appliances stay. For OUTDOOR ENJOYMENT you have a WONDERFUL COVERED FRONT PORCH and a back yard storage shed and some privacy in the rear yard. Your Full Covered two deep attached car port provides for easy access and safety. Lot rent is $735 per/mo. Buyers must be approved for residency through community sales office prior to closing. Offer includes a one year HOME WARRANTY. Call today to schedule your private tour!

Key facts

• Hvac replaced
• Ladue reservoir
• Cul-de-sac

Tags

• TROY OAKS COMMUNITY
• LADUE RESERVOIR
• CUL-DE-SAC
• NEW SKYLIGHTS
• HVAC REPLACED
• HOT WATER TANK REPLACED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $36k.

Deal economics

• At list price, monthly cash flow is $959 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#413 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Berkshire Local (town): math 52% / reading 60% proficiency, ranked #335 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 19 active listings in the ZIP; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $245 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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.

Recommended offer $34,435 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 4.29% ✓
• Cap rate: 38.70%
• Cash-on-cash: 115.72%
• DSCR: 6.15
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.57×
• Total profit: $55,322
• Equity at exit: $5,293

10-year hold

• IRR: —
• Equity multiple: 13.76×
• Total profit: $126,880
• Equity at exit: $3,069

Cash invested: $9,940 (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 44234

• Active inventory: 19
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$186
• Tax est. 1.5%: −$44 /mo · $532/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $959

Break-even live

Break-even rent $311

Max offer price $35,500

Occupancy floor 32%

Sensitivity live

Price	-10% $983	-5% $971	+0% $959	+5% $946	+10% $934
Rent	-10% $838	-5% $898	+0% $959	+5% $1,019	+10% $1,079
Rate	-1.0pp $976	-0.5pp $968	base $959	+0.5pp $949	+1.0pp $940

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: $8,875
• Closing costs: $1,065
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-15
   status Pending 1074-char remark

   Show marketing remark (1074 chars)

   AFFORDABLE LIVING at it's finest. This FANTASTIC 2 bedroom, 2 full bathroom manufactured home nestled in the desirable Troy Oaks community; which is very near to the beautiful LaDue Reservoir and all it's amenities. You are located on a Cul-de-sac which provides quiet privacy. The second bedroom can also serve as an office for the work from home new owner. The kitchen is bright with natural light along with new skylights (2018), plenty of cabinets and counter space to prepare homecooked meals (appliances are included)! Many mechanicals recently replaced - HVAC (furnace & air) 2024, Hot water tank 2023, roof -2011. The laundry/mudroom. All appliances stay. For OUTDOOR ENJOYMENT you have a WONDERFUL COVERED FRONT PORCH and a back yard storage shed and some privacy in the rear yard. Your Full Covered two deep attached car port provides for easy access and safety. Lot rent is $735 per/mo. Buyers must be approved for residency through community sales office prior to closing. Offer includes a one year HOME WARRANTY. Call today to schedule your private tour!

2. 2026-04-03
   listed $35,500 Active 1074-char remark

   Show marketing remark (1074 chars)

   AFFORDABLE LIVING at it's finest. This FANTASTIC 2 bedroom, 2 full bathroom manufactured home nestled in the desirable Troy Oaks community; which is very near to the beautiful LaDue Reservoir and all it's amenities. You are located on a Cul-de-sac which provides quiet privacy. The second bedroom can also serve as an office for the work from home new owner. The kitchen is bright with natural light along with new skylights (2018), plenty of cabinets and counter space to prepare homecooked meals (appliances are included)! Many mechanicals recently replaced - HVAC (furnace & air) 2024, Hot water tank 2023, roof -2011. The laundry/mudroom. All appliances stay. For OUTDOOR ENJOYMENT you have a WONDERFUL COVERED FRONT PORCH and a back yard storage shed and some privacy in the rear yard. Your Full Covered two deep attached car port provides for easy access and safety. Lot rent is $735 per/mo. Buyers must be approved for residency through community sales office prior to closing. Offer includes a one year HOME WARRANTY. Call today to schedule your private tour!

3. 2006-09-13
   historical
4. 2006-03-13
   listed $62,900

ⓘ 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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,287
• − Mortgage interest: −$1,989
• − Property taxes: −$532
• − Insurance: −$178
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$1,033
• Taxable income: $11,630
• Est. tax owed @ 24.0%: −$2,791
• After-tax cash flow: $8,712/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: Berkshire Local
• NCES district ID: 3904716
• Math proficiency: 52% ▼ -17.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $58,347
• Composite: 48.53/100
• National rank: #2117
• State rank: #335 of 656 in OH

Livability — Hiram

• Score: 71/100
• State rank: #413
• US rank: #6814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Portage · 165,699 people
• Metro: Akron, OH
• Population (ZIP): 4,078
• Household income: $73,519
• Rent vs Own: 16.0% rent · 84.0% own

Population outlook (Geauga County) Hauer SSP2

• Today (2025): 94,919 people
• By 2030: 94,804 · -0.1%
• By 2040: 92,641 · -2.4%
• By 2050: 88,198 · -7.1%
• By 2075: 79,080 · -16.7%
• By 2100: 60,856 · -35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 4% Romanian 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Geauga

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.7%
• 2008→2024 swing: -8.8pp toward R · 2008: -15.4pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.1 2016: R+25.5 2012: R+21.6 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.69%
• Current HPI: 210.5904
• 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

-43.6% since first listed

4 events — show timeline

• 2026-05-15 Pending — MLSNOW
• 2026-04-03 Listed $35,500 MLSNOW
• 2006-09-13 Listing Removed — MLSNOW
• 2006-03-13 Listed $62,900 MLSNOW