1703 Swings Corner Pt Isab Rd

Bethel, OH 45106

$99,500B-

3 bd · 2.0 ba · 1,216 sqft · Built 1999 · Manufactured · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,424/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$119
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $484/mo
• Annual: $5,810/yr
• Cap rate: 12.13%
• Cash-on-cash: 20.86%
• DSCR: 1.93
• 1% rule: 1.43%
• Cash to close: $27,860

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 86 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#685 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Felicity-Franklin Local (rural): math 53% / reading 55% proficiency, ranked #388 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.1% vs local median 3.1% in Bethel — 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 86 days. Have you received any prior offers? Is the seller open to a 6% 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 B-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.