Mansion Wood Valley Plan

Caledonia, OH 43314

$109,624D

3 bd · 2.0 ba · 1,056 sqft · Built — · Manufactured · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $975/mo
• Mortgage (P&I): −$575
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $13/mo
• Annual: $152/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• 1% rule: 0.89%
• Cash to close: $30,695

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k. Condition is rated poor.
• At list price, monthly cash flow is $13 ($152/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 $98k (11.1% below list).
• It's been on market 70 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (11.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $758 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#815 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• River Valley Local (rural): math 60% / reading 62% proficiency, ranked #264 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Liberty Elementary School (math 67% / reading 57%, grade B, #590 of 1,584 statewide, top 41%, 436 students, 44% FRL); River Valley Middle School (math 58% / reading 58%, grade B, #297 of 654 statewide, top 46%, 453 students, 40% FRL); River Valley High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 517 students, 32% FRL).
• Market conditions: 24 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — No photos provided.
• Major: Bathroom fixtures — No photos provided.
• Major: Roof — No photos provided.
• Major: Exterior siding — No photos provided.
• Major: Flooring — No photos provided.
• Major: Interior walls/paint — No photos provided.