149 Oaktree Ln

Hiram, OH 44234

$86,000B

3 bd · 2.0 ba · 1,620 sqft · Built 1995 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$451
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $986/mo
• Annual: $11,828/yr
• Cap rate: 20.05%
• Cash-on-cash: 49.12%
• DSCR: 3.19
• 1% rule: 2.33%
• Cash to close: $24,080

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $86k.
• At list price, monthly cash flow is $986 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• It's been on market 37 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#413 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Berkshire Local (town): math 52% / reading 60% proficiency, ranked #335 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 19 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent runs 33% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.