8651 Ohio 368 Unit 105E · Huntsville, OH 43324

$89,500

3 bd · 1.0 ba · 900 sqft · Manufactured · 7 Days on market

Built 1967 Est $121k · 26% under

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.1/10.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This three bedroom, 1 full bath mobile home at Lakeridge Resort has so much potential. It needs a little TLC and it would be wonderful! Great for full time living or vacationing. Includes a dock, grassed area, firepit, deck, and more! Leased land.

Key facts

• Assigned boat dock
• Waterfront community
• Built 1967

Tags

• WATERFRONT COMMUNITY
• ASSIGNED BOAT DOCK
• THREE SEPARATE STORAGE SHEDS
• COMMUNITY PICKLEBALL COURTS
• COMMUNITY BASKETBALL COURTS

Property features AI

Exterior

• Utilities: Public sewer; Natural gas connected; Supplied water
• Home design: Manufactured home; Residential property; Built in 1967; Irregular lot shape
• Construction: Aluminum siding; Pillar/post/pier foundation
• Exterior features: Deck; Dock; Shed(s); Leased lot; Lake view / waterfront access

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Gas water heater; Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($997 rent vs $90k).

Location & tenants

• Location reads 69/100 on livability (#494 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: schools D-, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; solid renter incomes; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($77k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 17y 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 $10k; list at $90k implies a 795% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,500

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $120,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8651 State Route 368 Unit 103E	0.00mi	2/2.0 (-1)	858 (-5%)	0mo	$115,000	$134	83
8651 Oh-368 Unit 76C	0.00mi	2/2.0 (-1)	910 (+1%)	9mo	$65,000	$71	82
8651 Ohio 368 Unit 14A	0.00mi	2/1.0 (-1)	924 (+3%)	15mo	$137,900	$149	78
8651 State Route 368 Unit 30B	0.00mi	2/1.5 (-1)	896 (-0%)	19mo	$123,500	$138	76
8651 S R 368 Unit 68-C	0.00mi	3/1.0	940 (+4%)	21mo	$115,500	$123	75
8651 S R 368 LOT 76-C	0.00mi	2/2.0 (-1)	910 (+1%)	22mo	$70,000	$77	70
8651 St Rt 368 Unit 108E	0.00mi	2/1.0 (-1)	868 (-4%)	24mo	$62,500	$72	69
8651 Ohio 368 Unit 124E	0.00mi	2/1.5 (-1)	924 (+3%)	24mo	$128,000	$139	69

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-3,718
• Equity at exit: $13,345

10-year hold

• IRR: 5.7%
• Equity multiple: 1.43×
• Total profit: $10,692
• Equity at exit: $7,738

Cash invested: $25,060 (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 43324

• Home prices YoY: -20.4%
• Active inventory: 26
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $169

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 78%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $89,500 Active 7 DOM
2. 2026-06-17
   days on market $89,500 Active 6 DOM
3. 2026-06-16
   days on market $89,500 Active 5 DOM
4. 2026-06-15
   days on market $89,500 Active 4 DOM
5. 2026-06-13
   days on market $89,500 Active 2 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $89,500 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 6/10 Major FEMA zone C · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $11,964
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$2,604
• Taxable income: $643
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $1,875/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.

Schools (NCES district)

• District: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Huntsville

• Score: 69/100
• State rank: #494
• US rank: #8281

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Logan · 47,256 people
• Population (ZIP): 2,804
• Household income: $76,875
• Rent vs Own: 14.7% rent · 85.3% own

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Hungarian 4% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.75%
• Current HPI: 256.0438
• 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

+86.5% since first listed

14 events — show timeline

• 2026-06-09 Listed $89,500 WRIST
• 2025-11-27 Listing Removed — WRIST
• 2025-09-03 Price Changed $79,900 WRIST
• 2025-07-26 Price Changed $90,000 WRIST
• 2025-07-09 Price Changed $100,000 WRIST
• 2025-05-29 Listed $110,000 WRIST
• 2017-05-26 Sold (MLS) $10,000 WRIST
• 2017-02-25 Listed $12,000 WRIST
• 2014-07-25 Sold (MLS) $21,500 CBRMLS
• 2014-03-18 Listed $26,000 CBRMLS
• 2013-12-05 Listing Removed — CBRMLS
• 2013-10-09 Listed $43,500 CBRMLS
• 2009-08-20 Sold (MLS) $48,000 WRIST
• 2009-06-29 Listed $48,000 WRIST