Adventure 231 Springfield Meadows Plan

Lawrenceville, OH 45502

$168,000C-

4 bd · 2.0 ba · 1,344 sqft · Built — · Manufactured · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,727/mo
• Mortgage (P&I): −$881
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$363
• Net cashflow: $203/mo
• Annual: $2,439/yr
• Cap rate: 7.74%
• Cash-on-cash: 5.19%
• DSCR: 1.23
• 1% rule: 1.03%
• Cash to close: $47,040

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $168k. Condition is rated fair.
• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• It's been on market 47 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Northwestern Local (rural): math 55% / reading 63% proficiency, ranked #295 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 78 active listings in the ZIP; solid renter incomes; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Exterior siding — Some discoloration and wear visible
• Minor: Paint — Some discoloration and wear visible