11164 Kentucky 57 · Manchester, OH 41189

$130,000

3 bd · 1.0 ba · 1,404 sqft · Other public records · 48 Days on market

Built 1950 2.00 ac lot

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Why this score? — see what drove the C- 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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Appreciation +4.4/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home and 2-acre lot right in the heart of Tollesboro!!! Rare occasion of having the opportunity to own in a great location with a little bit of acreage. The 3-bedroom 1 bath home features original hardwood floors as well as updated laminate, fresh paint, and newer appliances. Set on a nice level lot, property is equipped with a nice concrete floor barn, additional out building, and a fenced in pasture with a small pond. Perfect set up for a mini hobby farm or ample room for any of your other outdoor recreational activities. Whether you are looking for a starter home, fixer upper, or investment income potential, this is a must see that won't last long.

Key facts

• 2 acre lot
• Built 1950
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $116k (10.7% below list).
• Recommended offer: $116k (10.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#957 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, amenities F, commute F.
• Lewis County (rural): math 27% / reading 39% proficiency, ranked #94 of 165 in KY (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tollesboro Elementary School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 281 students, 73% FRL); Lewis County Middle School (math 29% / reading 46%, grade F, #73 of 217 statewide, top 36%, 299 students, 78% FRL); Lewis County High School (math 27% / reading 47%, grade F, #58 of 254 statewide, top 27%, 621 students, 76% FRL).

Forward outlook

• Local home prices are declining (-1.3%/yr); year-one equity from $899 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lewis County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,098 (10.7% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.90×
• Total profit: $-3,709
• Equity at exit: $29,736

10-year hold

• IRR: 4.6%
• Equity multiple: 1.43×
• Total profit: $15,478
• Equity at exit: $29,844

Cash invested: $36,400 (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 41189

• Home prices YoY: -0.5%
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,161 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $120

Break-even live

Break-even rent $1,009

Max offer price $130,000

Occupancy floor 85%

Sensitivity live

Price	-10% $194	-5% $157	+0% $120	+5% $84	+10% $47
Rent	-10% $29	-5% $75	+0% $120	+5% $166	+10% $212
Rate	-1.0pp $186	-0.5pp $153	base $120	+0.5pp $87	+1.0pp $52

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-13
   status Pending 659-char remark

   Show marketing remark (659 chars)

   Home and 2-acre lot right in the heart of Tollesboro!!! Rare occasion of having the opportunity to own in a great location with a little bit of acreage. The 3-bedroom 1 bath home features original hardwood floors as well as updated laminate, fresh paint, and newer appliances. Set on a nice level lot, property is equipped with a nice concrete floor barn, additional out building, and a fenced in pasture with a small pond. Perfect set up for a mini hobby farm or ample room for any of your other outdoor recreational activities. Whether you are looking for a starter home, fixer upper, or investment income potential, this is a must see that won't last long.

2. 2026-04-21
   status Active 659-char remark

   Show marketing remark (659 chars)

   Home and 2-acre lot right in the heart of Tollesboro!!! Rare occasion of having the opportunity to own in a great location with a little bit of acreage. The 3-bedroom 1 bath home features original hardwood floors as well as updated laminate, fresh paint, and newer appliances. Set on a nice level lot, property is equipped with a nice concrete floor barn, additional out building, and a fenced in pasture with a small pond. Perfect set up for a mini hobby farm or ample room for any of your other outdoor recreational activities. Whether you are looking for a starter home, fixer upper, or investment income potential, this is a must see that won't last long.

3. 2026-04-01
   historical Contingent 659-char remark

   Show marketing remark (659 chars)

   Home and 2-acre lot right in the heart of Tollesboro!!! Rare occasion of having the opportunity to own in a great location with a little bit of acreage. The 3-bedroom 1 bath home features original hardwood floors as well as updated laminate, fresh paint, and newer appliances. Set on a nice level lot, property is equipped with a nice concrete floor barn, additional out building, and a fenced in pasture with a small pond. Perfect set up for a mini hobby farm or ample room for any of your other outdoor recreational activities. Whether you are looking for a starter home, fixer upper, or investment income potential, this is a must see that won't last long.

4. 2026-03-26
   listed $130,000 Active 659-char remark

   Show marketing remark (659 chars)

   Home and 2-acre lot right in the heart of Tollesboro!!! Rare occasion of having the opportunity to own in a great location with a little bit of acreage. The 3-bedroom 1 bath home features original hardwood floors as well as updated laminate, fresh paint, and newer appliances. Set on a nice level lot, property is equipped with a nice concrete floor barn, additional out building, and a fenced in pasture with a small pond. Perfect set up for a mini hobby farm or ample room for any of your other outdoor recreational activities. Whether you are looking for a starter home, fixer upper, or investment income potential, this is a must see that won't last long.

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $730 · $61/mo
• Projected year-2 tax: $1,379 · $115/mo
• Expected delta: +$649/yr (+$54/mo · 88.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,932
• − Mortgage interest: −$7,282
• − Property taxes: −$730
• − Insurance: −$650
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$3,782
• Taxable loss: −$741
• Est. tax savings @ 24.0%: +$178
• After-tax cash flow: $1,623/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: Lewis County
• NCES district ID: 2103390
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $28,867
• Composite: 26.63/100
• National rank: #7172
• State rank: #94 of 165 in KY

Livability — Manchester

• Score: 61/100
• State rank: #957
• US rank: #18445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lewis
• Population (ZIP): 2,052
• Household income: $50,924
• Rent vs Own: 16.2% rent · 83.8% own

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 13,023 people
• By 2030: 12,589 · -3.3%
• By 2040: 11,600 · -10.9%
• By 2050: 10,558 · -18.9%
• By 2075: 8,369 · -35.7%
• By 2100: 6,373 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Serbian 3% Lithuanian 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+75.7) · D 11.6% · R 87.3% · Other 1.0%
• 2008→2024 swing: -40.2pp toward R · 2008: -35.5pp · 2024: -75.7pp
• All cycles: 2024: R+75.7 2020: R+70.8 2016: R+67.6 2012: R+41.6 2008: R+35.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.26%
• Current HPI: 246.4245
• 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

4 events — show timeline

• 2026-05-13 Pending — ImagineMLS
• 2026-04-21 Relisted — ImagineMLS
• 2026-04-01 Contingent — ImagineMLS
• 2026-03-26 Listed $130,000 ImagineMLS

Property tax history

+1.9%/yr

Latest (2025): $730 · +2.7% YoY. Source: county tax records.