1015 N Main St

Clyde, OH 43410

$35,900B

3 bd · 2.5 ba · 1,360 sqft · Built 2011 · Manufactured · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,159/mo
• Mortgage (P&I): −$188
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $668/mo
• Annual: $8,014/yr
• Cap rate: 28.61%
• Cash-on-cash: 79.72%
• DSCR: 4.55
• 1% rule: 3.23%
• Cash to close: $10,052

Investor read

• This is a 3-bed/2.5-bath manufactured listed at $36k.
• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 50 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $248 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#299 in OH, #4,829 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Clyde-Green Springs Exempted Village (town): math 53% / reading 61% proficiency, ranked #337 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mcpherson Middle School (math 62% / reading 63%, grade B+, #238 of 654 statewide, top 37%, 473 students, 50% FRL); Clyde High School (math 26% / reading 57%, grade F, #515 of 781 statewide, top 66%, 637 students, 46% FRL).
• Market conditions: 21 active listings in the ZIP; 23 units permitted in Sandusky County in 2024 (0 in 5+ unit buildings).
• Sandusky County population projected at -17% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.