1065 Hazel Nut Ln

Sidney, OH 45365

$35,000B+

2 bd · 2.0 ba · 1,056 sqft · Built 1998 · Manufactured · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,012/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$440
• Vac / Maint / Mgmt: −$213
• Net cashflow: $118/mo
• Annual: $1,413/yr
• Cap rate: 10.33%
• Cash-on-cash: 14.41%
• DSCR: 1.64
• 1% rule: 2.89%
• Cash to close: $9,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $35k. Condition is rated good.
• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 53 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 43% of rent.
• Market conditions: 145 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).
• Shelby County population projected at -18% 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 $10k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.3% vs local median 4.1% in Sidney — 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.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.