1220 W Richey Rd #46 · Port Clinton, OH 43452

$65,000

1 bd · 1.0 ba · 600 sqft · Manufactured · 19 Days on market

Built 1986 Fair condition $182/mo HOA · 11% of rent

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fishermens Dream to grab your bait jump in your boat and go fishing. 30' foot deeded dock with water and electrical to wash down your boat and keep batteries charged. Fish cleaning station and club house. This cozy turn key home has 1 bedroom with a huge 10x18 sunroom that has electricity and could easily be made into an extra bedroom. Store your Poles and fishing bait in you 10x10 shed included is an extra fridge with electricity. * * Seller to give buyer up to $1000 towards closing cost.

Key facts

• Covered deck
• Picnic area
• Deeded dock slip

Tags

• DEEDED DOCK SLIP
• STORAGE SHED
• COVERED DECK
• CLUBHOUSE
• LAUNDRY ROOM
• PICNIC AREA

Property features AI

Finance

• Other: Located in Vacation Land Marina Condo subdivision; Directions: Off Lakeshore Dr. to Riverside Marina to Vacationland. Turn right; home on the corner left side.
• HOA & community: Homeowners association with a $148 monthly fee

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential mobile home
• Construction: Aluminum and vinyl siding; Asphalt roof
• Exterior features: Has a view; Pets allowed

Interior

• Kitchen: Microwave, Range, Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Propane forced-air heating
• Interior features: Microwave, Range, Refrigerator; Crawl space basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 2.3% in Port Clinton — 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.

Location & tenants

• Location reads 72/100 on livability (#359 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment C-, amenities F, commute F.
• Port Clinton City (town): math 55% / reading 59% proficiency, ranked #342 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 220 active listings in the ZIP; 128 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ottawa County population projected at -19% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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.
• Current owner paid $36k; list at $65k implies a 78% gain — meaningful room to come down on a strong offer.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 2.56% ✓
• Cap rate: 18.88%
• Cash-on-cash: 44.94%
• DSCR: 3.00
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $26,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1090 Richey Rd Rd	0.12mi	2/1.0 (+1)	567 (-6%)	5mo	$25,000	$44	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.1%
• Equity multiple: 2.81×
• Total profit: $33,013
• Equity at exit: $9,692

10-year hold

• IRR: 48.3%
• Equity multiple: 5.68×
• Total profit: $85,199
• Equity at exit: $5,620

Cash invested: $18,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43452

• Active inventory: 220
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$182
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $682

Break-even live

Break-even rent $799

Max offer price $65,000

Occupancy floor 54%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $182 · $2,184/yr
• Likely covers: waterelectric

Listing history 15 events

1. 2026-06-18
   days on market $65,000 Active 19 DOM
2. 2026-06-17
   days on market $65,000 Active 18 DOM
3. 2026-06-16
   days on market $65,000 Active 17 DOM
4. 2026-06-15
   days on market $65,000 Active 16 DOM
5. 2026-06-13
   days on market $65,000 Active 14 DOM
6. 2026-06-12
   days on market $65,000 Active 13 DOM
7. 2026-06-09
   days on market $65,000 Active 10 DOM
8. 2026-06-08
   days on market $65,000 Active 9 DOM
9. 2026-06-08
   days on market $65,000 Active 8 DOM
10. 2026-06-07
    days on market $65,000 Active 7 DOM
11. 2026-06-04
    days on market $65,000 Active 4 DOM
12. 2026-06-02
    days on market $65,000 Active 3 DOM
13. 2026-06-01
    days on market $65,000 Active 2 DOM
14. 2026-05-31
    remarks 656-char remark
15. 2026-05-31
    listed $65,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,941
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − HOA: −$2,184
• − Depreciation: −$1,891
• Taxable income: $7,734
• Est. tax owed @ 24.0%: −$1,856
• After-tax cash flow: $6,322/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to update the kitchen and bathroom, and freshen up the interior walls and flooring. The home is in fair condition and has good curb appeal, making it a good investment opportunity.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major bathroom wallpaper — dated and in poor condition

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen will appeal to both buyers and renters
• Both update bathroom fixtures — modernizing the bathroom will appeal to both buyers and renters
• Both paint interior walls — fresh paint will improve the overall appearance and appeal of the home
• Both replace carpeting — new flooring will improve the overall appearance and appeal of the home

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
bathroom wallpaper · dated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen will appeal to both buyers and renters ↑
• Both update bathroom fixtures — modernizing the bathroom will appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint will improve the overall appearance and appeal of the home ↑
• Both replace carpeting — new flooring will improve the overall appearance and appeal of the home ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Port Clinton City
• NCES district ID: 3904465
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 59% ▼ -11.00%
• Median HH income: $47,532
• Composite: 48.34/100
• National rank: #2145
• State rank: #342 of 656 in OH

Livability — Port Clinton

• Score: 72/100
• State rank: #359
• US rank: #5778

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C- Housing A+ Health & safety B+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ottawa · 37,113 people
• City population: 14,052
• Metro: Sandusky, OH
• Population (ZIP): 14,052
• Household income: $63,815
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 5.6

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 39,548 people
• By 2030: 38,297 · -3.2%
• By 2040: 35,070 · -11.3%
• By 2050: 31,956 · -19.2%
• By 2075: 27,454 · -30.6%
• By 2100: 23,596 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 2%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+25.1) · D 37.0% · R 62.1%
• 2008→2024 swing: -31.3pp toward R · 2008: 6.3pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+23.4 2016: R+19.6 2012: D+4.1 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.50%
• Current HPI: 219.0624
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+56.6% since first listed

3 events — show timeline

• 2026-05-30 Listed $65,000 FAOR
• 2017-08-18 Sold (MLS) $36,500 FAOR
• 2017-01-23 Listed $41,500 FAOR