215 W Mound St

Sabina, OH 45169

$114,500D

3 bd · 1.5 ba · 1,008 sqft · Built 1991 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,020/mo
• Mortgage (P&I): −$600
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $15/mo
• Annual: $176/yr
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• 1% rule: 0.89%
• Cash to close: $32,060

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $114k.
• At list price, monthly cash flow is $15 ($176/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (10.9% below list).
• It's been on market 21 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (10.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $792 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#734 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• East Clinton Local (rural): math 41% / reading 52% proficiency, ranked #489 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sabina Elementary School (math 52% / reading 57%, grade C, #788 of 1,584 statewide, top 52%, 362 students, 55% FRL); East Clinton Junior High School (math 37% / reading 41%, grade F, #526 of 654 statewide, top 81%, 276 students, 45% FRL); East Clinton High School (math 17% / reading 57%, grade F, #564 of 781 statewide, top 74%, 320 students, 45% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 19 active listings in the ZIP; 119 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 22y 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 $21k; list at $114k implies a 445% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.