952 St Rt 511 #17

Nankin, OH 44805

$79,000D+

1 bd · 1.0 ba · 384 sqft · Built 2025 · Manufactured · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $726/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$153
• Net cashflow: $28/mo
• Annual: $335/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• 1% rule: 0.92%
• Cash to close: $22,120

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $79k.
• At list price, monthly cash flow is $28 ($335/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 $73k (8.1% below list).
• It's been on market 30 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (8.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Mapleton Local (rural): math 46% / reading 60% proficiency, ranked #392 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 125 active listings in the ZIP; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts 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.
• This rent is only 13% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.