1121 Clayberg Rd #115

Greenwich, OH 44837

$53,500C+

3 bd · 2.0 ba · 1,008 sqft · Built 2026 · Manufactured · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,020/mo
• Mortgage (P&I): −$281
• Tax + insurance: −$89
• HOA: −$360
• Vac / Maint / Mgmt: −$214
• Net cashflow: $76/mo
• Annual: $913/yr
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• 1% rule: 1.91%
• Cash to close: $14,980

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $54k. Condition is rated excellent.
• At list price, monthly cash flow is $76 ($913/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• It's been on market 62 days — a 6% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $370 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#615 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Crestview Local (rural): math 59% / reading 67% proficiency, ranked #241 of 656 in OH (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crestview Elementary School (math 74% / reading 62%, grade B+, #438 of 1,584 statewide, top 28%, 370 students, 34% FRL); Crestview Middle School (math 60% / reading 70%, grade A-, #194 of 654 statewide, top 31%, 275 students, 38% FRL); Crestview High School (math 42% / reading 57%, grade D, #390 of 781 statewide, top 54%, 293 students, 23% FRL) — zoned schools at 32% FRL track the district average.
• Watch-outs: HOA is 35% of rent.
• Market conditions: 13 active listings in the ZIP; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• This rent is only 18% of the median local income ($70k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.