234 E Harrison St Unit C6 · Lakeview, OH 43331

$39,900

2 bd · 1.0 ba · 601 sqft · Manufactured · 95 Days on market

Built 1965 Good condition $66/sqft · at area comps Est $41k · at est. ↓ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.4/15.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

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 $992 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 36.1% vs local median 5.8% 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: schools F, amenities F, commute 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.
• Market conditions: 109 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).
• This rent runs 32% of the median local income ($60k/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 $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 95 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 95 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: 4.02% ✓
• Cap rate: 36.13%
• Cash-on-cash: 106.57%
• DSCR: 5.74
• GRM: 2.1

CMA / ARV

• ARV (median comp): $40,681
• List price: $39,900
• Delta: -1.92%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Show comp detail 2 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%)	12mo	$49,500	$78	70
290 Stephenson St Lot 12	0.49mi	2/1.0	672 (+12%)	20mo	$27,000	$40	40

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: —
• Equity multiple: 6.08×
• Total profit: $56,753
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 12.72×
• Total profit: $130,891
• 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: 109
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $992

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 33%

Sensitivity live

Price	-10% $1,020	-5% $1,006	+0% $992	+5% $978	+10% $965
Rent	-10% $865	-5% $929	+0% $992	+5% $1,056	+10% $1,119
Rate	-1.0pp $1,012	-0.5pp $1,002	base $992	+0.5pp $982	+1.0pp $971

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
• 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	2d	1	0.53mi
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	2d	1	0.53mi

Listing history 17 events

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

17. 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: $19,260
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$1,161
• Taxable income: $11,985
• Est. tax owed @ 24.0%: −$2,876
• After-tax cash flow: $9,030/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

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.

Renovation cost estimate screening

Value-add ROI direction

• 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. ↑

ⓘ 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: 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

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 · 47,256 people
• Population (ZIP): 4,012
• Household income: $60,159
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 16.1

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%

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%

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

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