23652 Us Highway 224 · Fostoria, OH 44802

$200,000

3 bd · 2.0 ba · 1,856 sqft · Manufactured · 547 Days on market

Built 1983 4.99 ac lot

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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).

• Appreciation +8.4/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

5 acres with Approximately 870 feet of frontage on US 224. Multi-family property featuring a 64 x 14 mobile home and a 48 x 20 cabin. great potential for commercial development and / or additional mobile units. Selling As-IS.

Key facts

• Mobile home
• Cabin
• 5 acres

Tags

• 5 ACRES
• 870 FEET OF FRONTAGE
• MULTI-FAMILY PROPERTY
• MOBILE HOME
• CABIN
• COMMERCIAL DEVELOPMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (37.4% below list).
• Recommended offer: $125k (37.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#216 in OH, #3,330 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment D-.
• Arcadia Local (rural): math 65% / reading 77% proficiency, ranked #144 of 656 in OH (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Arcadia Elementary School (math 77% / reading 82%, grade A, #173 of 1,584 statewide, top 12%, 296 students, 0% FRL); Arcadia Middle School (math 52% / reading 67%, grade B, #271 of 654 statewide, top 43%, 99 students, 0% FRL); Arcadia High School (math 54% / reading 74%, grade B-, #164 of 781 statewide, top 24%, 199 students, 97% FRL).
• Market conditions: 2 active listings in the ZIP; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (6.8% local appreciation)).
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 547 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $200k implies a 107% gain — meaningful room to come down on a strong offer.

Recommended offer $125,279 (37.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 547 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.63% ✗
• Cap rate: 5.13%
• Cash-on-cash: -4.15%
• DSCR: 0.82
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.98×
• Total profit: $54,727
• Equity at exit: $135,734

10-year hold

• IRR: 14.1%
• Equity multiple: 4.01×
• Total profit: $168,390
• Equity at exit: $255,284

Cash invested: $56,000 (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 44802

• Home prices YoY: 2.6%
• Active inventory: 2
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$51 /mo · $612/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-193

Break-even live

Break-even rent $1,498

Max offer price $165,829

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-137	+0% $-193	+5% $-250	+10% $-307
Rent	-10% $-292	-5% $-243	+0% $-193	+5% $-144	+10% $-94
Rate	-1.0pp $-93	-0.5pp $-143	base $-193	+0.5pp $-245	+1.0pp $-298

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $200,000 Active 547 DOM
2. 2026-06-17
   days on market $200,000 Active 546 DOM
3. 2026-06-16
   days on market $200,000 Active 545 DOM
4. 2026-06-15
   days on market $200,000 Active 544 DOM
5. 2026-06-14
   days on market $200,000 Active 542 DOM
6. 2026-06-12
   days on market $200,000 Active 541 DOM
7. 2026-06-09
   days on market $200,000 Active 538 DOM
8. 2026-06-08
   days on market $200,000 Active 537 DOM
9. 2026-06-07
   days on market $200,000 Active 536 DOM
10. 2026-06-05
    days on market $200,000 Active 533 DOM
11. 2026-06-03
    days on market $200,000 Active 532 DOM
12. 2026-06-02
    days on market $200,000 Active 531 DOM
13. 2026-06-01
    days on market $200,000 Active 530 DOM
14. 2026-05-31
    days on market $200,000 Active 529 DOM
15. 2026-05-30
    days on market $200,000 Active 528 DOM
16. 2025-10-06
    price $200,000 231-char remark

    Show marketing remark (231 chars)

    5 acres with Approximately 870 feet of frontage on US 224. Multi-family property featuring a 64 x 14 mobile home and a 48 x 20 cabin. great potential for commercial development and / or additional mobile units. Selling As-IS.

17. 2025-01-21
    price $190,000 231-char remark

    Show marketing remark (231 chars)

    5 acres with Approximately 870 feet of frontage on US 224. Multi-family property featuring a 64 x 14 mobile home and a 48 x 20 cabin. great potential for commercial development and / or additional mobile units. Selling As-IS.

18. 2024-12-18
    listed $215,000 Active 231-char remark

    Show marketing remark (231 chars)

    5 acres with Approximately 870 feet of frontage on US 224. Multi-family property featuring a 64 x 14 mobile home and a 48 x 20 cabin. great potential for commercial development and / or additional mobile units. Selling As-IS.

19. 2015-01-07
    soldstatus $96,500
20. 2012-05-18
    soldstatus $26,000 92-char remark

    Show marketing remark (92 chars)

    Home is on 4.99 acres with two outbuildings. Three bedrooms with master down. Selling As-Is.

21. 2012-05-18
    soldstatus $26,000

    Show marketing remark (92 chars)

    Home is on 4.99 acres with two outbuildings. Three bedrooms with master down. Selling As-Is.

22. 2012-04-06
    listed $25,900 92-char remark

    Show marketing remark (92 chars)

    Home is on 4.99 acres with two outbuildings. Three bedrooms with master down. Selling As-Is.

23. 2012-04-06
    listed $26,000

    Show marketing remark (92 chars)

    Home is on 4.99 acres with two outbuildings. Three bedrooms with master down. Selling As-Is.

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $612 · $51/mo
• Projected year-2 tax: $1,866 · $155/mo
• Expected delta: +$1,254/yr (+$105/mo · 205.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,033
• − Mortgage interest: −$11,203
• − Property taxes: −$612
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$5,818
• Taxable loss: −$6,005
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $-880/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: Arcadia Local
• NCES district ID: 3910002
• Math proficiency: 65% ▼ -16.00%
• Reading proficiency: 77% ▼ -5.00%
• Median HH income: $48,634
• Composite: 60.02/100
• National rank: #874
• State rank: #144 of 656 in OH

Livability — Fostoria

• Score: 76/100
• State rank: #216
• US rank: #3330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Seneca · 70,739 people
• City population: 18,409
• Population (ZIP): 919
• Household income: $61,667
• Rent vs Own: 9.8% rent · 90.2% own
• Severe rent burden: 28.6

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,526 people
• By 2030: 77,777 · +0.3%
• By 2040: 76,976 · -0.7%
• By 2050: 74,479 · -3.9%
• By 2075: 65,741 · -15.2%
• By 2100: 52,942 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 5% Romanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+38.4) · D 30.2% · R 68.7% · Other 1.1%
• 2008→2024 swing: -15.3pp toward R · 2008: -23.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+37.5 2016: R+40.8 2012: R+28.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.78%
• Current HPI: 265.1461
• 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

+672.2% since first listed

8 events — show timeline

• 2025-10-06 Price Changed $200,000 NORIS
• 2025-01-21 Price Changed $190,000 NORIS
• 2024-12-18 Listed $215,000 NORIS
• 2015-01-07 Sold (Public Records) $96,500 Public Records
• 2012-05-18 Sold (MLS) $26,000 NORIS
• 2012-05-18 Sold (MLS) $26,000 NORIS
• 2012-04-06 Listed $26,000 NORIS
• 2012-04-06 Listed $25,900 NORIS

Property tax history

-6.0%/yr

Latest (2025): $612 · +27.7% YoY. Source: county tax records.