7856 Ohio 108 #58 · Wauseon, OH 43567

$22,000

2 bd · 1.0 ba · 1,400 sqft · Manufactured · 21 Days on market

Built 1972 Good condition 2,400 sqft lot $16/sqft · 75% below area $605/mo HOA · 55% of rent

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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
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious 2-bedroom, 1-bath mobile home located in a 55+ community in Wauseon. Offering approximately 1,400 square feet of living space, the home features a functional layout with generously sized rooms and comfortable everyday living areas. Recent upgrades include new air conditioning, a new metal roof, walk in Jacuzzi tub, a handicap accessible ramp, and new flooring / paint! The interior provides a natural flow between living, dining, and kitchen spaces, creating flexibility for both daily routines and hosting. Washer, Dryer, Fridge, and stove stay.

Key facts

• 2,400 sq ft lot
• Parking
• Built 1972

Property features AI

Finance

• Other: Located in Fulton County
• HOA & community: Association present with a monthly fee of $605 (fee includes: Other); Park name: Rolo management

Exterior

• Parking: Has a 1-space carport; Off-street parking (total 1 parking space)
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Residential double-wide mobile home; Single-story / one level; Living area approximately 1,400
• Construction: Vinyl siding; Other foundation details; Mobile home make: Broadmore; model: broadmore; approx. length 56 ft and width 25 ft
• Exterior features: Metal roof

Interior

• Kitchen: Kitchen on the main level (approximately 15 x 10)
• Bedrooms: Bedroom 2 on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 6 total rooms; Other interior features
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $22k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.2% in Wauseon — 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 82/100 on livability (#80 in OH, #1,209 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Wauseon Exempted Village (town): math 63% / reading 67% proficiency, ranked #212 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 38 active listings in the ZIP; 24 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($74k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• Fulton County population projected at -14% 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 $6k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 55% of rent.

Recommended offer $21,670 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.97% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.77%
• DSCR: 1.92
• GRM: 1.7

CMA / ARV

• ARV (median comp): $88,524
• List price: $22,000
• Delta: -75.15%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14900 County Road H #37	0.23mi	3/2.0 (+1)	1,400 (0%)	2mo	$62,000	$44	78
14900 County Road H #60	0.29mi	3/2.0 (+1)	1,549 (+11%)	5mo	$97,000	$63	56
14900 County Road H #65	0.23mi	3/2.0 (+1)	1,232 (-12%)	7mo	$97,400	$79	55
14900 County Road H Unit 8	0.30mi	3/2.0 (+1)	1,200 (-14%)	4mo	$76,500	$64	50

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: 14.5%
• Equity multiple: 1.59×
• Total profit: $3,615
• Equity at exit: $3,280

10-year hold

• IRR: 24.0%
• Equity multiple: 3.19×
• Total profit: $13,470
• Equity at exit: $1,902

Cash invested: $6,160 (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 43567

• Home prices YoY: -24.6%
• Active inventory: 38
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,093 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$28 /mo · $330/yr
• Insurance: −$9
• HOA: −$605
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $107

Break-even live

Break-even rent $958

Max offer price $22,000

Occupancy floor 85%

Sensitivity live

Price	-10% $122	-5% $114	+0% $107	+5% $99	+10% $91
Rent	-10% $20	-5% $63	+0% $107	+5% $150	+10% $193
Rate	-1.0pp $118	-0.5pp $112	base $107	+0.5pp $101	+1.0pp $95

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $605 · $7,260/yr

Listing history 4 events

1. 2026-06-01
   days on market $22,000 Active 21 DOM
2. 2026-05-31
   days on market $22,000 Active 20 DOM
3. 2026-05-11
   listed $22,000 Active 574-char remark
4. 2026-05-08
   historical $22,000 574-char remark

ⓘ 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 · 17 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: $13,119
• − Mortgage interest: −$1,232
• − Property taxes: −$330
• − Insurance: −$110
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − HOA: −$7,260
• − Depreciation: −$640
• Taxable income: $1,448
• Est. tax owed @ 24.0%: −$347
• After-tax cash flow: $932/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 · 2 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 1-bath mobile home in a 55+ community is in good condition with recent upgrades. It offers a good return on investment with minor cosmetic improvements that can further enhance its value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal 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: Wauseon Exempted Village
• NCES district ID: 3904564
• Math proficiency: 63% ▼ -12.00%
• Reading proficiency: 67% ▼ -6.00%
• Median HH income: $50,616
• Composite: 55.27/100
• National rank: #1266
• State rank: #212 of 656 in OH

Livability — Wauseon

• Score: 82/100
• State rank: #80
• US rank: #1209

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fulton · 33,657 people
• Metro: Toledo, OH
• Population (ZIP): 12,879
• Household income: $74,404
• Rent vs Own: 21.2% rent · 78.8% own
• Severe rent burden: 1.6

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 41,958 people
• By 2030: 41,130 · -2.0%
• By 2040: 38,760 · -7.6%
• By 2050: 36,040 · -14.1%
• By 2075: 30,793 · -26.6%
• By 2100: 25,429 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+42.4) · D 28.4% · R 70.8%
• 2008→2024 swing: -34.3pp toward R · 2008: -8.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.8 2016: R+36.0 2012: R+13.2 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.53%
• Current HPI: 222.1398
• 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

3 events — show timeline

• 2026-06-01 Listing Removed — NORIS
• 2026-05-11 Listed $22,000 NORIS
• 2026-05-08 Coming Soon — NORIS