234 E Harrison St Unit C6 · Lakeview, OH 43331

$39,900

2 bd · 1.0 ba · 601 sqft · Manufactured · 97 Days on market

Manufactured home Built 1965 Good condition $66/sqft · 16% below area Est $48k · 16% under ↓ 10% since listing

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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
• ARV discount +14.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -6.7

Listing remarks MLS

Your Lake Life awaits in South Shore Estates! This 1965 New Moon Mobile home is conveniently located near: Lakeview Harbor/ Boat Ramp, The walking trail along the edge of the lake, La Playa - Mexican Restaurant, Holders Hideaway, Amvets, The Depot, and much more! Some features of this mobile home include: new vinyl siding, new skirting, new flooring, new windows in the mobile home, updated electric, open concept living with an addition, washer/dryer hookup, and rear concrete patio. This property would be ideal for full time living, as a weekend retreat, or a seasonal getaway. Indian Lake awaits - start your next adventure here!

Key facts

• Updated electric
• New flooring
• New skirting

Tags

• LAKEVIEW HARBOR BOAT RAMP
• NEW VINYL SIDING
• NEW SKIRTING
• NEW FLOORING
• NEW WINDOWS
• UPDATED ELECTRIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.4% vs local median 4.6% in Lakeview — 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 63/100 on livability (#836 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Indian Lake Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 510 students, 45% FRL); Indian Lake Middle School (math 56% / reading 65%, grade B+, #259 of 654 statewide, top 40%, 407 students, 42% FRL); Indian Lake High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 492 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 145 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Logan County population projected at -15% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 3.10% ✓
• Cap rate: 27.36%
• Cash-on-cash: 75.25%
• DSCR: 4.35
• GRM: 2.7

CMA / ARV

• ARV (median comp): $47,585
• List price: $39,900
• Delta: -16.15%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 E Harrison St Unit W-3	0.12mi	1/1.0 (-1)	636 (+6%)	13mo	$49,500	$78	68
203 2nd St	1.28mi	2/1.0	598 (-0%)	12mo	$175,000	$293	54
416 Maple St	1.14mi	2/1.0	640 (+6%)	1mo	$365,000	$570	54
11020 Oak Cir #7	1.15mi	2/1.0	630 (+5%)	8mo	$30,000	$48	50
351 Prater St	1.15mi	2/2.0	624 (+4%)	9mo	$210,000	$337	47
357 3rd St	1.17mi	2/1.0	665 (+11%)	2mo	$145,000	$218	45
290 Stephenson St Lot 12	0.49mi	2/1.0	672 (+12%)	22mo	$27,000	$40	39
242 Park Ave	1.47mi	2/1.0	570 (-5%)	25mo	$95,000	$167	36
215 Stephenson St	0.51mi	2/1.0	500 (-17%)	19mo	$80,000	$160	36
11348 S R 235 #249	1.42mi	2/1.0	504 (-16%)	11mo	$82,500	$164	30
225 Bentz Ave	0.65mi	1/1.0 (-1)	696 (+16%)	13mo	$101,000	$145	28
11013 Oak Cir #10	1.18mi	2/2.0	720 (+20%)	13mo	$12,000	$17	25

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: 75.1%
• Equity multiple: 4.42×
• Total profit: $38,174
• Equity at exit: $5,949

10-year hold

• IRR: 78.9%
• Equity multiple: 9.13×
• Total profit: $90,773
• Equity at exit: $3,450

Cash invested: $11,172 (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 43331

• Home prices YoY: -30.0%
• Active inventory: 145
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,236 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $701

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 38%

Sensitivity live

Price	-10% $728	-5% $714	+0% $701	+5% $687	+10% $673
Rent	-10% $603	-5% $652	+0% $701	+5% $749	+10% $798
Rate	-1.0pp $721	-0.5pp $711	base $701	+0.5pp $690	+1.0pp $680

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: $9,975
• Closing costs: $1,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8926 Franklin Ave Unit B Lakeview, OH	2.0	1.0	696	$1,605	$2.31	50d	1	0.53mi
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	46d	1	0.53mi

Listing history 19 events

1. 2026-06-22
   days on market $39,900 Active 97 DOM
2. 2026-06-21
   days on market $39,900 Active 96 DOM
3. 2026-06-21
   days on market $39,900 Active 95 DOM
4. 2026-06-18
   days on market $39,900 Active 93 DOM
5. 2026-06-17
   days on market $39,900 Active 92 DOM
6. 2026-06-16
   days on market $39,900 Active 91 DOM
7. 2026-06-15
   days on market $39,900 Active 90 DOM
8. 2026-06-13
   days on market $39,900 Active 88 DOM
9. 2026-06-12
   days on market $39,900 Active 87 DOM
10. 2026-06-09
    days on market $39,900 Active 84 DOM
11. 2026-06-08
    days on market $39,900 Active 83 DOM
12. 2026-06-08
    days on market $39,900 Active 82 DOM
13. 2026-06-07
    pricedays on market $39,900 Active 81 DOM
14. 2026-06-04
    days on market $44,900 Active 78 DOM
15. 2026-06-02
    days on market $44,900 Active 77 DOM
16. 2026-06-01
    days on market $44,900 Active 76 DOM
17. 2026-05-31
    days on market $44,900 Active 75 DOM
18. 2026-05-06
    price $44,900 648-char remark

    Show marketing remark (648 chars)

    Your Lake Life awaits in South Shore Estates! This 1965 New Moon Mobile home is conveniently located near: Lakeview Harbor/ Boat Ramp, The walking trail along the edge of the lake, La Playa - Mexican Restaurant, Holders Hideaway, Amvets, The Depot, and much more! Some features of this mobile home include: new vinyl siding, new skirting, new flooring, new windows in the mobile home, updated electric, open concept living with an addition, washer/dryer hookup, and rear concrete patio. This property would be ideal for full time living, as a weekend retreat, or a seasonal getaway. Indian Lake awaits - start your next adventure here!

19. 2026-03-17
    listed $49,900 Active 648-char remark

    Show marketing remark (648 chars)

    Your Lake Life awaits in South Shore Estates! This 1965 New Moon Mobile home is conveniently located near: Lakeview Harbor/ Boat Ramp, The walking trail along the edge of the lake, La Playa - Mexican Restaurant, Holders Hideaway, Amvets, The Depot, and much more! Some features of this mobile home include: new vinyl siding, new skirting, new flooring, new windows in the mobile home, updated electric, open concept living with an addition, washer/dryer hookup, and rear concrete patio. This property would be ideal for full time living, as a weekend retreat, or a seasonal getaway. Indian Lake awaits - start your next adventure here!

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $14,830
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$1,161
• Taxable income: $8,264
• Est. tax owed @ 24.0%: −$1,983
• After-tax cash flow: $6,424/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $3,005–$9,015 screening

This 1965 New Moon mobile home in South Shore Estates is in good condition with recent updates, making it an ideal property for full-time living or seasonal use. The home is move-in ready with new flooring, siding, and windows, and is conveniently located near various amenities and a lakefront setting.

Value-add opportunities

• Both Paint interior walls and trim — Enhances curb appeal and interior aesthetics. ↑
• Both Install new lighting fixtures — Improves functionality and enhances curb appeal. ↑
• Both Add outdoor furniture to patio — Enhances outdoor living space and increases appeal for potential buyers/renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 64/100

Zoned Schools

Elementary Indian Lake Elementary School A- OH #391/1,584 Nat'l #3,487/41,679 Middle Indian Lake Middle School B+ OH #259/654 Nat'l #1,738/14,009 High Indian Lake High School B- OH #202/781 Nat'l #3,220/17,239

Schools (NCES district)

• District: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

C Composite livability gradescore 63/100

Livability — Lakeview

• Score: 63/100
• State rank: #836
• US rank: #15632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeview, OH
• County: Logan · 44,240 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16% of renters

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Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

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Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.75%
• Current HPI: 256.2406
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

-10.0% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $44,900 WRIST
• 2026-03-17 Listed $49,900 WRIST