13673 County Rd E #10

Bryan, OH 43506

$46,900B

2 bd · 2.0 ba · 800 sqft · Built 2026 · Manufactured · Pending · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $831/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $332/mo
• Annual: $3,987/yr
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• 1% rule: 1.77%
• Cash to close: $13,132

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $47k.
• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($831 rent vs $47k).
• It's been on market 129 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $324 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#170 in OH, #2,623 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Bryan City (town): math 60% / reading 65% proficiency, ranked #266 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bryan Elementary (math 63% / reading 63%, grade B, #573 of 1,584 statewide, top 37%, 884 students, 31% FRL); Bryan Middle School/High School (math 57% / reading 66%, grade B-, #231 of 781 statewide, top 30%, 936 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).
• Williams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $9k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.8% vs local median 4.1% in Bryan — 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.
• This rent is only 16% of the median local income ($61k/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 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.