2805 Wapakoneta Ave #45 · Sidney, OH 45365

$30,500

2 bd · 1.0 ba · 840 sqft · Manufactured · 23 Days on market

Built 1974 Fair condition Est $28k · 10% over

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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
• Schools +4.2/10.0
• Livability +3.8/5.0
• ARV discount +3.0/15.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER WILL GIVE $1,000.00 TO BUYER AT CLOSING! Extensively renovated 2 bedroom mobile located with convenient interstate access. Wide crown molding & textured walls accent the neutral decor living room. Galley kitchen with new countertops. Updated bath-new toilet & tub surround. Dining area with full walled china cabinet/buffet, is presently used as a 3rd bedroom. Double closets in master bedroom. New siding & C/A - 2009. Newer furnace, subflooring throughout, light fixtures, living room window, water heater, paint,closet doors, insulation & roof over. Double parking spaces. Utilities average $100/mo./electric, $100./mo./gas, water/sewer/trash/$30-35/mo. Cable hookup available. Appliances negotiable. Would make great starter or retirement property. Potential buyer must be approved by park management before purchasing.

Key facts

• New furnace
• Deck
• New windows

Tags

• NEW WINDOWS
• NEW FURNACE
• DECK

Property features AI

Finance

• Other: Directions: North on Co. Rd. 25A to left at Northbrook trailer lot.
• HOA & community: Association handles snow removal; Located in Northbrook MHP

Exterior

• Utilities: Natural gas connected; Public sewer
• Home design: Manufactured house (mobile home); Built in 1974
• Construction: Vinyl siding
• Exterior features: Deck; Shed(s); Leased lot; Supplied water

Interior

• Kitchen: Dishwasher
• Bedrooms: Two bedrooms (11 x 11 and 11 x 8)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Ceiling fan(s); Partial window coverings
• Laundry & utility: Utility room (6 x 5)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.4% vs local median 4.1% in Sidney — 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 76/100 on livability (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 145 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).
• This rent is only 17% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $211 of loan paydown is wiped out by about $915 of value loss. Plan a longer hold.
• Shelby 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago 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.
• Current owner paid $9k; list at $30k implies a 239% gain — meaningful room to come down on a strong offer.

Recommended offer $30,042 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1974 — 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: 2.99% ✓
• Cap rate: 26.35%
• Cash-on-cash: 71.65%
• DSCR: 4.19
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $27,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2400 Wapakonetta Lot 37	0.52mi	3/2.0 (+1)	840 (0%)	14mo	$28,000	$33	55

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: 71.3%
• Equity multiple: 4.23×
• Total profit: $27,546
• Equity at exit: $4,548

10-year hold

• IRR: 75.2%
• Equity multiple: 8.71×
• Total profit: $65,859
• Equity at exit: $2,637

Cash invested: $8,540 (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 45365

• Home prices YoY: -20.1%
• Active inventory: 145
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $912 medium
• Mortgage (P&I): −$160
• Tax est. 1.5%: −$38 /mo · $458/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $510

Break-even live

Break-even rent $267

Max offer price $30,500

Occupancy floor 39%

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: $7,625
• Closing costs: $915
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
552 Stonecastle Ct Unit B1 Sidney, OH	2.0	1.5	836	$900	$1.08	43d	1	0.77mi
552 Stonecastle Ct Sidney, OH	2.0	1.0	836	$900	$1.08	43d	1	0.77mi
522 Stonecastle Ct Sidney, OH	2.0	1.0	836	$900	$1.08	43d	1	0.77mi
776 Country Side Ln Sidney, OH	3.0	1.0	1001	$994	$0.99	2d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $30,500 Active 23 DOM
2. 2026-06-17
   days on market $30,500 Active 22 DOM
3. 2026-06-16
   days on market $30,500 Active 21 DOM
4. 2026-06-15
   days on market $30,500 Active 20 DOM
5. 2026-06-14
   days on market $30,500 Active 18 DOM
6. 2026-06-13
   days on market $30,500 Active 17 DOM
7. 2026-06-10
   days on market $30,500 Active 15 DOM
8. 2026-06-09
   days on market $30,500 Active 14 DOM
9. 2026-06-08
   days on market $30,500 Active 13 DOM
10. 2026-06-07
    days on market $30,500 Active 12 DOM
11. 2026-06-03
    days on market $30,500 Active 8 DOM
12. 2026-06-02
    days on market $30,500 Active 7 DOM
13. 2026-06-01
    days on market $30,500 Active 6 DOM
14. 2026-05-31
    days on market $30,500 Active 5 DOM
15. 2026-05-31
    days on market $30,500 Active 4 DOM
16. 2026-05-26
    listed $30,500 Active
17. 2011-04-25
    soldstatus $9,000 846-char remark

    Show marketing remark (846 chars)

    SELLER WILL GIVE $1,000.00 TO BUYER AT CLOSING! Extensively renovated 2 bedroom mobile located with convenient interstate access. Wide crown molding & textured walls accent the neutral decor living room. Galley kitchen with new countertops. Updated bath-new toilet & tub surround. Dining area with full walled china cabinet/buffet, is presently used as a 3rd bedroom. Double closets in master bedroom. New siding & C/A - 2009. Newer furnace, subflooring throughout, light fixtures, living room window, water heater, paint,closet doors, insulation & roof over. Double parking spaces. Utilities average $100/mo./electric, $100./mo./gas, water/sewer/trash/$30-35/mo. Cable hookup available. Appliances negotiable. Would make great starter or retirement property. Potential buyer must be approved by park management before purchasing.

18. 2010-07-24
    listed $11,900 846-char remark

    Show marketing remark (846 chars)

    SELLER WILL GIVE $1,000.00 TO BUYER AT CLOSING! Extensively renovated 2 bedroom mobile located with convenient interstate access. Wide crown molding & textured walls accent the neutral decor living room. Galley kitchen with new countertops. Updated bath-new toilet & tub surround. Dining area with full walled china cabinet/buffet, is presently used as a 3rd bedroom. Double closets in master bedroom. New siding & C/A - 2009. Newer furnace, subflooring throughout, light fixtures, living room window, water heater, paint,closet doors, insulation & roof over. Double parking spaces. Utilities average $100/mo./electric, $100./mo./gas, water/sewer/trash/$30-35/mo. Cable hookup available. Appliances negotiable. Would make great starter or retirement property. Potential buyer must be approved by park management before purchasing.

ⓘ 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 ≥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: $10,947
• − Mortgage interest: −$1,708
• − Property taxes: −$458
• − Insurance: −$152
• − Repairs & maintenance: −$876
• − Management: −$876
• − Depreciation: −$887
• Taxable income: $5,990
• Est. tax owed @ 24.0%: −$1,437
• After-tax cash flow: $4,681/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 · 11 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to improve its condition and appeal. Key areas for improvement include the kitchen and bathroom, as well as exterior painting. With these updates, the property can significantly increase its resale value.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Moderate exterior siding — weathered and in need of repainting

Value-add opportunities

• Resale new kitchen appliances — modern appliances improve appeal
• Resale new bathroom fixtures — updated fixtures enhance appeal
• Resale exterior painting — fresh paint improves curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · weathered and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Resale new kitchen appliances — modern appliances improve appeal ↑
• Resale new bathroom fixtures — updated fixtures enhance appeal ↑
• Resale exterior painting — fresh paint improves curb appeal ↑

ⓘ 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: Sidney City
• NCES district ID: 3910003
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $45,974
• Composite: 41.55/100
• National rank: #3443
• State rank: #454 of 656 in OH

Livability — Sidney

• Score: 76/100
• State rank: #220
• US rank: #3412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, OH
• County: Shelby · 44,840 people
• City population: 28,955
• Population (ZIP): 28,955
• Household income: $66,044
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 5.7

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 47,264 people
• By 2030: 45,935 · -2.8%
• By 2040: 42,786 · -9.5%
• By 2050: 38,981 · -17.5%
• By 2075: 30,225 · -36.1%
• By 2100: 21,273 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+64.8) · D 17.2% · R 82.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -36.4pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.2 2016: R+60.6 2012: R+46.0 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.62%
• Current HPI: 264.4532
• 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

+156.3% since first listed

3 events — show timeline

• 2026-05-26 Listed $30,500 WRIST
• 2011-04-25 Sold (MLS) $9,000 WRIST
• 2010-07-24 Listed $11,900 WRIST