5337 L St NE

Magnolia, OH 44643

$137,000D-

3 bd · 2.0 ba · 1,400 sqft · Built 2026 · Manufactured · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $875/mo
• Mortgage (P&I): −$718
• Tax + insurance: −$228
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $-256/mo
• Annual: $-3,066/yr
• Cap rate: 4.05%
• Cash-on-cash: -7.99%
• DSCR: 0.64
• 1% rule: 0.64%
• Cash to close: $38,360

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $137k.
• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (36.1% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $88k (36.1% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($947 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#401 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Sandy Valley Local (rural): math 56% / reading 63% proficiency, ranked #296 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 244 units permitted in Tuscarawas County in 2024 (0 in 5+ unit buildings).
• Tuscarawas County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent is only 17% of the median local income ($63k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.