8 Hawaiian Dr · North Perry, OH 44057

$54,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 45 Days on market

Built 1996 435 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained home in Madison offering a comfortable layout and a number of valuable updates throughout. Featuring 3 bedrooms and 2 full bathrooms, this property provides functional living space suited to a variety of needs. The primary suite includes a spacious private bathroom complete with a working jetted tub, separate stand-up shower, and dual vanities—offering both convenience and flexibility. Both bathrooms feature ceramic tile flooring, with the front bathroom recently renovated in 2026 for a fresh, updated feel. The home includes all appliances, making move-in simple and convenient. Additional updates include new windows installed in 2012, along with a Timbe

Key facts

• Working jetted tub
• Dual vanities
• Private bathroom

Tags

• PRIVATE BATHROOM
• WORKING JETTED TUB
• SEPARATE STAND-UP SHOWER
• DUAL VANITIES
• CERAMIC TILE FLOORING
• RECENTLY RENOVATED

Property features AI

Finance

• Financial info: Has land lease ($400)

Exterior

• Parking: Detached garage with 1 garage space; Driveway (paved)
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Patio; Property has a view

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric forced-air heating
• Interior features: Double-pane windows; Total of 6 rooms
• Laundry & utility: Main-level laundry room with electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#482 in OH) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools D, health & safety D, amenities F.
• Madison Local (suburban): math 58% / reading 59% proficiency, ranked #308 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 96 active listings in the ZIP; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($70k/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 $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $53,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 3.42% ✓
• Cap rate: 30.47%
• Cash-on-cash: 86.33%
• DSCR: 4.84
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 86.8%
• Equity multiple: 5.01×
• Total profit: $61,568
• Equity at exit: $8,186

10-year hold

• IRR: 89.9%
• Equity multiple: 10.40×
• Total profit: $144,425
• Equity at exit: $4,747

Cash invested: $15,372 (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 44057

• Active inventory: 96
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,880 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,106

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 36%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $54,900 Active 45 DOM
2. 2026-06-17
   days on market $54,900 Active 44 DOM
3. 2026-06-16
   days on market $54,900 Active 43 DOM
4. 2026-06-15
   days on market $54,900 Active 42 DOM
5. 2026-06-13
   days on market $54,900 Active 40 DOM
6. 2026-06-12
   days on market $54,900 Active 39 DOM
7. 2026-06-09
   days on market $54,900 Active 36 DOM
8. 2026-06-08
   days on market $54,900 Active 35 DOM
9. 2026-06-08
   days on market $54,900 Active 34 DOM
10. 2026-06-07
    pricedays on market $54,900 Active 33 DOM
11. 2026-06-04
    days on market $59,900 Active 30 DOM
12. 2026-06-02
    days on market $59,900 Active 29 DOM
13. 2026-06-01
    days on market $59,900 Active 28 DOM
14. 2026-05-31
    days on market $59,900 Active 27 DOM
15. 2026-05-04
    listed $59,900 Active
16. 2003-07-17
    historical
17. 2003-01-17
    listed $39,500

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,562
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,805
• − Management: −$1,805
• − Depreciation: −$1,597
• Taxable income: $13,181
• Est. tax owed @ 24.0%: −$3,164
• After-tax cash flow: $10,107/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: Madison Local
• NCES district ID: 3904788
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $51,608
• Composite: 49.99/100
• National rank: #1924
• State rank: #308 of 656 in OH

Livability — North Perry

• Score: 70/100
• State rank: #482
• US rank: #8064

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake · 224,932 people
• Metro: Cleveland, OH
• Population (ZIP): 19,491
• Household income: $70,212
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 8.5

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Scotch-Irish 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -241.42%
• Current HPI: 187.8978
• 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

+51.6% since first listed

3 events — show timeline

• 2026-05-04 Listed $59,900 MLSNOW
• 2003-07-17 Listing Removed — MLSNOW
• 2003-01-17 Listed $39,500 MLSNOW