36 West St · Caledonia, OH 43314

$22,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 191 Days on market

Built 1999 $21/sqft · 88% below area $484/mo HOA · 50% of rent ↓ 30% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

Key facts

• Built 1999
• Listed 191 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $22k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#815 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools 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.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $6k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 50% of rent.

Recommended offer $19,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.43% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.35%
• DSCR: 2.31
• GRM: 1.9

CMA / ARV

• ARV (median comp): $179,301
• List price: $22,000
• Delta: -87.73%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.7%
• Equity multiple: 2.03×
• Total profit: $6,334
• Equity at exit: $3,280

10-year hold

• IRR: 32.9%
• Equity multiple: 4.10×
• Total profit: $19,101
• Equity at exit: $1,902

Cash invested: $6,160 (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 43314

• Home prices YoY: -22.0%
• Active inventory: 24
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$115
• Tax from tax record: −$11 /mo · $132/yr
• Insurance: −$9
• HOA: −$484
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $151

Break-even live

Break-even rent $784

Max offer price $22,000

Occupancy floor 80%

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 West St Caledonia, OH	3.0	2.0	1216	$975	$0.80	43d	5	0.18mi

HOA detail

• Monthly dues: $484 · $5,808/yr

Listing history 18 events

1. 2026-06-14
   statusdays on market $22,000 Pending 191 DOM
2. 2026-06-12
   days on market $22,000 Active 190 DOM
3. 2026-06-09
   days on market $22,000 Active 187 DOM
4. 2026-06-08
   days on market $22,000 Active 186 DOM
5. 2026-06-07
   days on market $22,000 Active 185 DOM
6. 2026-06-03
   days on market $22,000 Active 181 DOM
7. 2026-06-02
   days on market $22,000 Active 180 DOM
8. 2026-06-01
   days on market $22,000 Active 179 DOM
9. 2026-05-31
   days on market $22,000 Active 178 DOM
10. 2026-05-30
    days on market $22,000 Active 177 DOM
11. 2026-04-23
    price $27,900 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

12. 2026-03-24
    price $28,400 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

13. 2026-03-11
    price $28,950 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

14. 2026-02-05
    price $29,950 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

15. 2026-01-26
    price $33,999 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

16. 2026-01-16
    price $35,500 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

17. 2025-12-11
    price $36,000 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

18. 2025-12-04
    listed $39,999 Active 1057-char remark

    Show marketing remark (1057 chars)

    Step into this beautifully updated 3-bedroom, 1.5-bath home, designed with a focus on modern comfort and structural peace of mind. The interior boasts a sought-after open-concept floor plan, creating a seamless flow between the living areas and the refreshed kitchen—perfect for both everyday life and hosting guests. Key Property Features: Fresh Interiors: Features brand-new wood and vinyl flooring throughout, complemented by fresh neutral paint and upgraded designer lighting to create a warm, inviting ambiance. Mechanical Integrity: Rest easy knowing this home is equipped with a newly serviced HVAC system, ensuring consistent climate control, enhanced air quality, and improved energy efficiency for years to come. Functional Layout: The bright and airy kitchen offers extensive cabinet space, while three entry-level bedrooms provide ample space for guests or a home office. Exterior Benefits: Includes a private, detached storage unit—ideal for tools, hobbies, or seasonal gear—and a manageable yard with a front porch and deck.

ⓘ 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: $132 · $11/mo
• Projected year-2 tax: $238 · $20/mo
• Expected delta: +$105/yr (+$9/mo · 79.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,700
• − Mortgage interest: −$1,232
• − Property taxes: −$132
• − Insurance: −$110
• − Repairs & maintenance: −$936
• − Management: −$936
• − HOA: −$5,808
• − Depreciation: −$640
• Taxable income: $1,905
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $1,351/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: River Valley Local
• NCES district ID: 3904844
• Math proficiency: 60% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $55,645
• Composite: 52.44/100
• National rank: #1574
• State rank: #264 of 656 in OH

Livability — Caledonia

• Score: 63/100
• State rank: #815
• US rank: #15087

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marion · 64,367 people
• Population (ZIP): 2,506
• Household income: $56,042
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 29.4

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada, Dominican Republic
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.17%
• Current HPI: 223.9757
• 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

-30.2% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $27,900 CBRMLS
• 2026-03-24 Price Changed $28,400 CBRMLS
• 2026-03-11 Price Changed $28,950 CBRMLS
• 2026-02-05 Price Changed $29,950 CBRMLS
• 2026-01-26 Price Changed $33,999 CBRMLS
• 2026-01-16 Price Changed $35,500 CBRMLS
• 2025-12-11 Price Changed $36,000 CBRMLS
• 2025-12-04 Listed $39,999 CBRMLS

Property tax history

-2.5%/yr

Latest (2025): $132 · +0.0% YoY. Source: county tax records.