11377 Township Road 266 #47 · Chippewa Park, OH 43331

$89,900

2 bd · 1.0 ba · 480 sqft · Manufactured · 29 Days on market

Built 2017 Good condition Est $62k · 44% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Your Lake Life awaits at Indian Lake Estates! Whether your looking for a weekend retreat, summer escape, or a year round sanctuary, look no further! This furnished 2017 Kropf Island Park Model is ready for new owners. Outside features of this home include: a large covered composite deck-perfect for sitting outside yet shaded from the sun, a shed with electric, an outside rear fenced patio area with privacy fencing on one side, and a large back yard that backs up to the tree line offering both shade & privacy. Some inside features include: vaulted ceilings in the main living area, a lofted second bedroom, a sofa sleeper, and an electric fireplace, Lot 48 directly next door is also

Key facts

• Shed with electric
• Large back yard
• Vaulted ceilings

Tags

• LARGE COVERED COMPOSITE DECK
• SHED WITH ELECTRIC
• OUTSIDE REAR FENCED PATIO
• LARGE BACK YARD
• VAULTED CEILINGS
• LOFTED SECOND BEDROOM

Property features AI

Finance

• Other: Located in a community with guest parking
• HOA & community: Association maintains grounds and pool; Association covers snow removal, sewer, water, and trash

Exterior

• Utilities: Supplied water; Public sewer; Propane; Sewer connected
• Home design: Residential mobile home; Built in 2017; Leased lot
• Construction: Vinyl siding
• Exterior features: Patio; Deck; Shed(s); Fenced yard; Association in-ground pool; Lake access (waterfront, lake related)

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Wall unit(s); Forced air heating; Propane heating
• Interior features: Cathedral ceilings; Ceiling fans; Electric fireplace
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 5.5% in Chippewa Park — 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 49/100 on livability (#1,173 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.92%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $62,400
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11377 Township Road 266 #77	0.06mi	1/1.0 (-1)	432 (-10%)	8mo	$57,000	$132	69
11377 Township Road 266 #61	0.06mi	1/1.0 (-1)	432 (-10%)	9mo	$56,000	$130	68
11377 Township Road 266 #15	0.06mi	1/1.0 (-1)	432 (-10%)	9mo	$45,000	$104	68
11377 Township Road 266 #22	0.06mi	1/1.0 (-1)	538 (+12%)	8mo	$19,000	$35	66
11065 County Road 293 #13	0.35mi	1/1.0 (-1)	540 (+12%)	3mo	$85,000	$157	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $8,052
• Equity at exit: $13,404

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $36,190
• Equity at exit: $7,773

Cash invested: $25,172 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 112
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,236 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $355

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 66%

Sensitivity live

Price	-10% $417	-5% $386	+0% $355	+5% $324	+10% $293
Rent	-10% $257	-5% $306	+0% $355	+5% $404	+10% $452
Rate	-1.0pp $400	-0.5pp $378	base $355	+0.5pp $332	+1.0pp $308

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $89,900 Active 29 DOM
2. 2026-06-17
   days on market $89,900 Active 28 DOM
3. 2026-06-16
   days on market $89,900 Active 27 DOM
4. 2026-06-15
   days on market $89,900 Active 26 DOM
5. 2026-06-13
   days on market $89,900 Active 24 DOM
6. 2026-06-12
   days on market $89,900 Active 23 DOM
7. 2026-06-09
   days on market $89,900 Active 20 DOM
8. 2026-06-08
   days on market $89,900 Active 19 DOM
9. 2026-06-08
   days on market $89,900 Active 18 DOM
10. 2026-06-07
    days on market $89,900 Active 17 DOM
11. 2026-06-04
    days on market $89,900 Active 14 DOM
12. 2026-06-02
    days on market $89,900 Active 13 DOM
13. 2026-06-01
    days on market $89,900 Active 12 DOM
14. 2026-05-31
    days on market $89,900 Active 11 DOM
15. 2026-05-20
    listed $89,900 Active

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

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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,827
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$2,615
• Taxable income: $3,006
• Est. tax owed @ 24.0%: −$721
• After-tax cash flow: $3,537/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 2017 Kropf Island Park Model is move-in ready with good condition and a good location. It offers a large covered deck, a fenced patio area, and a large back yard with privacy. The interior is modern and well-maintained.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Chippewa Park

• Score: 49/100
• State rank: #1173
• US rank: #25758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• 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

1 event — show timeline

• 2026-05-20 Listed $89,900 WRIST