2000 U.s. Highway 23n N #77 · Delaware, OH 43015

$45,000

2 bd · 1.5 ba · 980 sqft · Manufactured · 35 Days on market

Built 1974 10,018 sqft lot $46/sqft · 12% above area Est $40k · 12% over $650/mo HOA · 45% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buyer must be approved by Park Management. Very well maintained singlewide with Covered patio and car port plus a shed! new furnace and A/C all plumbing has also been updated! No Dogs.

Key facts

• New kitchen
• Shed
• New flooring

Tags

• LARGE LOT
• CARPORT
• OFF-STREET PARKING
• SHED
• NEW KITCHEN
• NEW FLOORING

Property features AI

Finance

• Other: Located in a 55+ community
• HOA & community: Homeowners association with monthly fee of $650; HOA fee includes cable/satellite, water, sewer, trash, and snow removal; Community amenities include sidewalks; Association phone available

Exterior

• Parking: Two covered carport spaces
• Utilities: Public water; Public sewer
• Home design: One-story residence; Other residential without deeded land; Built in 1974
• Construction: Other foundation
• Exterior features: Deck; No shared/common walls

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl; Other flooring
• Bathrooms: One full bathroom; One half bathroom (total 1.5 bathrooms)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Insulated windows throughout; 980 square feet of living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.5% in Delaware — 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 80/100 on livability (#116 in OH, #1,717 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, schools A; Watch: amenities C-, commute F.
• Delaware City (suburban): math 47% / reading 63% proficiency, ranked #355 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 499 active listings in the ZIP; solid renter incomes; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).
• This rent is only 16% of the median local income ($105k/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 $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $13k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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.
• Current owner paid $4k; list at $45k implies a 1186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 3.22% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.39%
• DSCR: 1.77
• GRM: 2.6

CMA / ARV

• ARV (median comp): $40,000
• List price: $45,000
• Delta: 12.50%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.20×
• Total profit: $2,491
• Equity at exit: $6,710

10-year hold

• IRR: 11.6%
• Equity multiple: 1.78×
• Total profit: $9,846
• Equity at exit: $3,891

Cash invested: $12,600 (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 43015

• Rents YoY: 1.4%
• Active inventory: 499
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$650
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $183

Break-even live

Break-even rent $1,216

Max offer price $45,000

Occupancy floor 82%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $650 · $7,800/yr

Listing history 16 events

1. 2026-06-18
   days on market $45,000 Active 35 DOM
2. 2026-06-17
   days on market $45,000 Active 34 DOM
3. 2026-06-16
   days on market $45,000 Active 33 DOM
4. 2026-06-15
   days on market $45,000 Active 32 DOM
5. 2026-06-13
   days on market $45,000 Active 30 DOM
6. 2026-06-09
   days on market $45,000 Active 26 DOM
7. 2026-06-08
   days on market $45,000 Active 25 DOM
8. 2026-06-07
   days on market $45,000 Active 24 DOM
9. 2026-06-03
   days on market $45,000 Active 20 DOM
10. 2026-06-02
    days on market $45,000 Active 19 DOM
11. 2026-06-01
    days on market $45,000 Active 18 DOM
12. 2026-05-31
    days on market $45,000 Active 17 DOM
13. 2026-05-14
    listed $45,000 Active 800-char remark
14. 2008-05-16
    soldstatus $3,500 184-char remark

    Show marketing remark (184 chars)

    Buyer must be approved by Park Management. Very well maintained singlewide with Covered patio and car port plus a shed! new furnace and A/C all plumbing has also been updated! No Dogs.

15. 2008-05-15
    historical 184-char remark

    Show marketing remark (184 chars)

    Buyer must be approved by Park Management. Very well maintained singlewide with Covered patio and car port plus a shed! new furnace and A/C all plumbing has also been updated! No Dogs.

16. 2008-02-06
    listed $9,499 184-char remark

    Show marketing remark (184 chars)

    Buyer must be approved by Park Management. Very well maintained singlewide with Covered patio and car port plus a shed! new furnace and A/C all plumbing has also been updated! No Dogs.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,370
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − HOA: −$7,800
• − Depreciation: −$1,309
• Taxable income: $2,061
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $1,696/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: Delaware City
• NCES district ID: 3904387
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 63% ▼ -7.00%
• Median HH income: $55,434
• Composite: 47.39/100
• National rank: #2288
• State rank: #355 of 656 in OH

Livability — Delaware

• Score: 80/100
• State rank: #116
• US rank: #1717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 61,401
• Metro: Columbus, OH
• Population (ZIP): 61,401
• Household income: $105,322
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 965.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 5% Black 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -398.47%
• Current HPI: 233.0634
• Rent YoY: ▲ 1.42%
• 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

+373.7% since first listed

4 events — show timeline

• 2026-05-14 Listed $45,000 CBRMLS
• 2008-05-16 Sold (MLS) $3,500 CBRMLS
• 2008-05-15 Listing Removed — CBRMLS
• 2008-02-06 Listed $9,499 CBRMLS