5383 L St NE

Magnolia, OH 44643

$110,000C+

3 bd · 2.0 ba · 1,344 sqft · Built 2026 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,106/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $114/mo
• Annual: $1,367/yr
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• 1% rule: 1.01%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k. Condition is rated good.
• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#401 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.
• Sandy Valley Local (rural): math 56% / reading 63% proficiency, ranked #296 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 2 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.