8573 Lake Ln #13 · Russells Point, OH 43348

$89,500

2 bd · 1.0 ba · 672 sqft · Manufactured · 37 Days on market

Built 1964 Fair condition $133/sqft · 38% above area Est $65k · 38% over ↓ 10% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Affordable waterfront get-away! A few steps across the drive and you are sitting on your boat on the electric boat lift dock. This 2 bedroom, 1 bathroom mobile is sitting in a fabulous location right on the lakefront and close to restaurants, shopping and entertainment. The enclosed patio room can be converted into a 4 seasons room and is already grandfathered in to make even more enjoyable space at your lake retreat. The yearly fees are currently $2359 for this season and have been paid by the sellers for this season. The park fees include maintenance on the island such as mowing, snow removal etc. , lot fee, boat dock #7 fees and, sewer, The buyer will also receive a share of stock for

Key facts

• Enclosed patio room
• Lakefront location
• Waterfront get-away

Tags

• WATERFRONT GET-AWAY
• ELECTRIC BOAT LIFT DOCK
• LAKEFRONT LOCATION
• ENCLOSED PATIO ROOM
• 4 SEASONS ROOM

Property features AI

Finance

• Other: Located in the Fantasy Island subdivision; Directions: Directly behind the McDonald's in Russells Point.
• HOA & community: Association covers snow removal, grounds maintenance, real estate taxes, sewer and trash

Exterior

• Utilities: Public sewer
• Home design: Manufactured house; Residential mobile home; Built in 1964; Irregular lot
• Construction: Aluminum siding; Pillar/post/pier foundation
• Exterior features: Dock; Porch; Patio; Shed(s); Leased lot; Lakefront waterfront; Supplied water

Interior

• Kitchen: Cooktop; Microwave; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Partial window coverings; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 2.7% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, 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: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.79% ✓
• Cap rate: 15.00%
• Cash-on-cash: 31.10%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (median comp): $64,713
• List price: $89,500
• Delta: 38.30%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 Easy St	0.04mi	1/1.0 (-1)	660 (-2%)	14mo	$26,000	$39	78
8573 Ohio 366 #1	0.63mi	2/1.0	759 (+13%)	2mo	$25,000	$33	48

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: -0.0%
• Equity multiple: 1.00×
• Total profit: $-20
• Equity at exit: $13,345

10-year hold

• IRR: 9.9%
• Equity multiple: 1.78×
• Total profit: $19,426
• 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 43348

• Home prices YoY: -29.2%
• Active inventory: 49
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $223

Break-even live

Break-even rent $1,323

Max offer price $89,500

Occupancy floor 81%

Sensitivity live

Price	-10% $285	-5% $254	+0% $223	+5% $192	+10% $161
Rent	-10% $96	-5% $159	+0% $223	+5% $286	+10% $350
Rate	-1.0pp $268	-0.5pp $246	base $223	+0.5pp $200	+1.0pp $176

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	2d	1	1.40mi
8926 Franklin Ave Unit B Lakeview, OH	2.0	1.0	696	$1,605	$2.31	2d	1	1.40mi

Listing history 16 events

1. 2026-06-21
   days on market $89,500 Active 37 DOM
2. 2026-06-18
   days on market $89,500 Active 35 DOM
3. 2026-06-17
   days on market $89,500 Active 34 DOM
4. 2026-06-16
   days on market $89,500 Active 33 DOM
5. 2026-06-15
   days on market $89,500 Active 32 DOM
6. 2026-06-13
   days on market $89,500 Active 30 DOM
7. 2026-06-12
   pricedays on market $89,500 Active 29 DOM
8. 2026-06-09
   days on market $99,500 Active 26 DOM
9. 2026-06-08
   days on market $99,500 Active 25 DOM
10. 2026-06-08
    days on market $99,500 Active 24 DOM
11. 2026-06-07
    days on market $99,500 Active 23 DOM
12. 2026-06-04
    days on market $99,500 Active 20 DOM
13. 2026-06-02
    days on market $99,500 Active 19 DOM
14. 2026-06-01
    days on market $99,500 Active 18 DOM
15. 2026-05-31
    days on market $99,500 Active 17 DOM
16. 2026-05-14
    listed $99,500 Active 837-char remark

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $19,260
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$5,566
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$2,604
• Taxable income: $1,653
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $2,278/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include exterior siding, interior paint, kitchen cabinets, and bathroom fixtures.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior paint — Peeling and worn
• Major kitchen cabinets — Outdated and worn
• Major bathroom fixtures — Outdated and worn

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet — New carpet improves comfort and reduces maintenance
• Both Upgrade kitchen cabinets — Modern cabinets increase functionality and value
• Both Upgrade bathroom fixtures — New fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior paint · Peeling and worn	Major	$15,000–50,000
kitchen cabinets · Outdated and worn	Major	$15,000–50,000
bathroom fixtures · Outdated and worn	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — New carpet improves comfort and reduces maintenance ↑
• Both Upgrade kitchen cabinets — Modern cabinets increase functionality and value ↑
• Both Upgrade bathroom fixtures — New fixtures improve functionality and aesthetics ↑

ⓘ 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: 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 — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Russells Point, OH
• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

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 (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

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: ▼ -108.07%
• Current HPI: 261.3567
• 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

-10.1% since first listed

2 events — show timeline

• 2026-06-11 Price Changed $89,500 WRIST
• 2026-05-14 Listed $99,500 WRIST