6695 Ohio 15 #11 · Bryan, OH 43506

$21,900

3 bd · 1.5 ba · 1,120 sqft · Manufactured · 227 Days on market

Built 1993 $450/mo HOA · 39% of rent ↓ 12% since listing

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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 +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE 3 BEDROOM 1.5 BATH HOME AT OAKWOOD MHP. VERY AFFORDABLE LIVING. ALL BUYERS MUST BE APPROVED WITH PARK AND FILL OUT APPLICATION. SET YOUR APPOINTMENT UP TODAY!

Key facts

• 2 parking spots
• Built 1993
• Listed 227 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $22k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/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: $19k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 4.1% in Bryan — 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 78/100 on livability (#170 in OH, #2,623 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Bryan City (town): math 60% / reading 65% proficiency, ranked #266 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 63 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $151 of loan paydown is wiped out by about $657 of value loss. Plan a longer hold.
• Williams 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $19,272 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
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: 5.22% ✓
• Cap rate: 22.85%
• Cash-on-cash: 59.14%
• DSCR: 3.63
• GRM: 1.6

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: 58.4%
• Equity multiple: 3.61×
• Total profit: $15,993
• Equity at exit: $3,265

10-year hold

• IRR: 63.3%
• Equity multiple: 7.51×
• Total profit: $39,905
• Equity at exit: $1,894

Cash invested: $6,132 (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 43506

• Home prices YoY: -21.1%
• Active inventory: 63
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,144 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$27 /mo · $328/yr
• Insurance: −$9
• HOA: −$450
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $302

Break-even live

Break-even rent $761

Max offer price $21,900

Occupancy floor 69%

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: $5,475
• Closing costs: $657
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $450 · $5,400/yr

Listing history 16 events

1. 2026-06-18
   days on market $21,900 Active 227 DOM
2. 2026-06-17
   days on market $21,900 Active 226 DOM
3. 2026-06-16
   days on market $21,900 Active 225 DOM
4. 2026-06-15
   days on market $21,900 Active 224 DOM
5. 2026-06-13
   days on market $21,900 Active 222 DOM
6. 2026-06-12
   days on market $21,900 Active 221 DOM
7. 2026-06-09
   days on market $21,900 Active 218 DOM
8. 2026-06-08
   days on market $21,900 Active 217 DOM
9. 2026-06-07
   days on market $21,900 Active 216 DOM
10. 2026-06-07
    days on market $21,900 Active 215 DOM
11. 2026-06-04
    days on market $21,900 Active 212 DOM
12. 2026-06-02
    days on market $21,900 Active 211 DOM
13. 2026-06-01
    days on market $21,900 Active 210 DOM
14. 2026-05-31
    days on market $21,900 Active 209 DOM
15. 2026-02-03
    price $21,900 166-char remark

    Show marketing remark (166 chars)

    NICE 3 BEDROOM 1.5 BATH HOME AT OAKWOOD MHP. VERY AFFORDABLE LIVING. ALL BUYERS MUST BE APPROVED WITH PARK AND FILL OUT APPLICATION. SET YOUR APPOINTMENT UP TODAY!

16. 2025-11-03
    listed $25,000 Active 166-char remark

    Show marketing remark (166 chars)

    NICE 3 BEDROOM 1.5 BATH HOME AT OAKWOOD MHP. VERY AFFORDABLE LIVING. ALL BUYERS MUST BE APPROVED WITH PARK AND FILL OUT APPLICATION. SET YOUR APPOINTMENT UP TODAY!

ⓘ 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 · 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: $13,725
• − Mortgage interest: −$1,227
• − Property taxes: −$328
• − Insurance: −$110
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − HOA: −$5,400
• − Depreciation: −$637
• Taxable income: $3,827
• Est. tax owed @ 24.0%: −$918
• After-tax cash flow: $2,708/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: Bryan City
• NCES district ID: 3904367
• Math proficiency: 60% ▼ -8.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $41,709
• Composite: 52.34/100
• National rank: #1587
• State rank: #266 of 656 in OH

Livability — Bryan

• Score: 78/100
• State rank: #170
• US rank: #2623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Williams · 37,585 people
• City population: 14,691
• Population (ZIP): 14,691
• Household income: $60,705
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 3.6

Population outlook (Williams County) Hauer SSP2

• Today (2025): 36,125 people
• By 2030: 35,264 · -2.4%
• By 2040: 33,264 · -7.9%
• By 2050: 31,072 · -14.0%
• By 2075: 26,553 · -26.5%
• By 2100: 21,318 · -41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Williams

• 2024 margin: Solid R (+48.2) · D 25.4% · R 73.7%
• 2008→2024 swing: -39.0pp toward R · 2008: -9.3pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+46.2 2016: R+43.8 2012: R+16.3 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.45%
• Current HPI: 211.2824
• 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

-12.4% since first listed

2 events — show timeline

• 2026-02-03 Price Changed $21,900 NORIS
• 2025-11-03 Listed $25,000 NORIS