10 7117 Cr-59 · Lexington, OH 44904

$59,900

3 bd · 2.0 ba · 2,800 sqft · Land public records · 27 Days on market

Built 2024

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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
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this larger-than-average 2025 single-wide home, newly built and located in the desirable Northmor School District. This all-electric property is designed for easy living, featuring a simple AC hookup. The open-concept layout welcomes you with a bright living room that flows directly into a modern kitchen equipped with brand-new appliances and ample storage. Three bedrooms and two full bathrooms provide comfortable living space, while the primary suite offers a private bath and walk-in closet. Washer and dryer hookups add everyday convenience. With its expanded layout, modern finishes, and worry-free new construction, this home is ready for its first owner. Come see why this upgrad

Key facts

• Brand new appliances
• Simple ac hookup
• Modern kitchen

Tags

• ALL ELECTRIC PROPERTY
• SIMPLE AC HOOKUP
• OPEN CONCEPT LAYOUT
• MODERN KITCHEN
• BRAND NEW APPLIANCES
• AMPLE STORAGE

Property features AI

Exterior

• Parking: Asphalt parking
• Utilities: Shared well water; Public sewer
• Home design: Residential mobile home
• Construction: Vinyl siding
• Exterior features: Composition roof

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; Refrigerator; Oven

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $973 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.8% vs local median 4.4% in Lexington — 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 77/100 on livability (#198 in OH, #3,037 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Northmor Local (rural): math 54% / reading 60% proficiency, ranked #336 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 62 active listings in the ZIP; 129 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/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 $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morrow County population projected at -10% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.93% ✓
• Cap rate: 25.78%
• Cash-on-cash: 69.58%
• DSCR: 4.10
• GRM: 2.8

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: 69.1%
• Equity multiple: 4.12×
• Total profit: $52,262
• Equity at exit: $8,931

10-year hold

• IRR: 73.2%
• Equity multiple: 8.48×
• Total profit: $125,376
• Equity at exit: $5,179

Cash invested: $16,772 (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 44904

• Active inventory: 62
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $973

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 40%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $59,900 Active 27 DOM
2. 2026-06-18
   days on market $59,900 Active 26 DOM
3. 2026-06-17
   days on market $59,900 Active 25 DOM
4. 2026-06-16
   days on market $59,900 Active 24 DOM
5. 2026-06-15
   days on market $59,900 Active 23 DOM
6. 2026-06-14
   days on market $59,900 Active 21 DOM
7. 2026-06-12
   days on market $59,900 Active 20 DOM
8. 2026-06-09
   days on market $59,900 Active 17 DOM
9. 2026-06-08
   days on market $59,900 Active 16 DOM
10. 2026-06-07
    days on market $59,900 Active 15 DOM
11. 2026-06-02
    days on market $59,900 Active 10 DOM
12. 2026-06-01
    days on market $59,900 Active 9 DOM
13. 2026-05-31
    days on market $59,900 Active 8 DOM
14. 2026-05-30
    days on market $59,900 Active 7 DOM
15. 2026-05-22
    listed $59,900 Active
16. 2026-03-06
    price $64,800
17. 2026-03-02
    price $64,900
18. 2026-01-20
    price $65,300
19. 2025-12-30
    price $65,800
20. 2025-12-01
    price $66,300
21. 2025-11-10
    listed $67,300 Active
22. 2016-06-15
    soldstatus $225,000
23. 2003-12-11
    soldstatus $725,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,061
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$1,743
• Taxable income: $11,395
• Est. tax owed @ 24.0%: −$2,735
• After-tax cash flow: $8,936/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: Northmor Local
• NCES district ID: 3904881
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 60% ▼ -3.00%
• Median HH income: $49,371
• Composite: 48.51/100
• National rank: #2120
• State rank: #336 of 656 in OH

Livability — Lexington

• Score: 77/100
• State rank: #198
• US rank: #3037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Richland County · 43,943 people
• City population: 13,450
• Metro: Mansfield, OH
• Population (ZIP): 13,450
• Household income: $62,364
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 237.0

Population outlook (Morrow County) Hauer SSP2

• Today (2025): 35,607 people
• By 2030: 35,482 · -0.4%
• By 2040: 34,369 · -3.5%
• By 2050: 32,038 · -10.0%
• By 2075: 25,090 · -29.5%
• By 2100: 17,123 · -51.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Morrow

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.5%
• 2008→2024 swing: -32.4pp toward R · 2008: -23.4pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+54.3 2016: R+49.5 2012: R+24.6 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.61%
• Current HPI: 203.175
• Rent YoY: —
• Metro: Mansfield, OH
• 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

-91.7% since first listed

9 events — show timeline

• 2026-05-22 Listed $59,900 MARMLS
• 2026-03-06 Price Changed $64,800 MARMLS
• 2026-03-02 Price Changed $64,900 MARMLS
• 2026-01-20 Price Changed $65,300 MARMLS
• 2025-12-30 Price Changed $65,800 MARMLS
• 2025-12-01 Price Changed $66,300 MARMLS
• 2025-11-10 Listed $67,300 MARMLS
• 2016-06-15 Sold (Public Records) $225,000 Public Records
• 2003-12-11 Sold (Public Records) $725,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $3,849 · -7.6% YoY. Source: county tax records.