8312 Ohio 366 #2 · Russells Point, OH 43348

$25,900

2 bd · 1.0 ba · 600 sqft · Manufactured · 64 Days on market

Built 1966 Fair condition $43/sqft · 24% above area Est $21k · 24% over ↓ 37% since listing

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Why this score? — see what drove the C+ 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
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into easy, comfortable living at Cottonwood Mobile Home Park! The mobile home offers peaceful open water views, creating a calm and inviting setting. Inside, you'll find 2 bedrooms, 1 bathroom, plus a versatile bonus room that can fit your needs. With washer and dryer hookups already in place, everyday living is simple and convenient. The $540 monthly lot rent includes water, sewer, and trash. If you're looking for a relaxed, resort-style atmosphere, this mobile home is a fantastic find!

Key facts

• Bonus room
• Open water views
• Built 1966

Tags

• OPEN WATER VIEWS
• BONUS ROOM
• WASHER AND DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $26k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($805 rent vs $26k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.5% vs local median 2.7% in Russells Point — 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 60/100 on livability (#971 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: 49 active listings in the ZIP; 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 $179 of loan paydown is wiped out by about $777 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $24,346 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.11% ✓
• Cap rate: 27.47%
• Cash-on-cash: 75.65%
• DSCR: 4.37
• GRM: 2.7

CMA / ARV

• ARV (median comp): $20,950
• List price: $25,900
• Delta: 23.63%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8312 Ohio 366 #46	0.00mi	2/1.0	576 (-4%)	3mo	$18,500	$32	91
8312 Ohio 366 #17	0.04mi	2/1.0	576 (-4%)	1mo	$23,400	$41	91
8312 Ohio 366 #2	0.00mi	2/1.0	600 (0%)	16mo	$39,000	$65	87
8312 OH-366 #25	0.04mi	2/1.0	567 (-6%)	3mo	$11,000	$19	86
8312 State Route 366 #44	0.04mi	2/1.0	576 (-4%)	22mo	$17,500	$30	73

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: 75.6%
• Equity multiple: 4.44×
• Total profit: $24,932
• Equity at exit: $3,862

10-year hold

• IRR: 79.3%
• Equity multiple: 9.17×
• Total profit: $59,252
• Equity at exit: $2,239

Cash invested: $7,252 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $805 medium
• Mortgage (P&I): −$136
• Tax est. 1.5%: −$32 /mo · $388/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $457

Break-even live

Break-even rent $227

Max offer price $25,900

Occupancy floor 38%

Sensitivity live

Price	-10% $475	-5% $466	+0% $457	+5% $448	+10% $439
Rent	-10% $394	-5% $425	+0% $457	+5% $489	+10% $521
Rate	-1.0pp $470	-0.5pp $464	base $457	+0.5pp $450	+1.0pp $444

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: $6,475
• Closing costs: $777
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-02
   days on market $25,900 Active 64 DOM
2. 2026-06-01
   days on market $25,900 Active 63 DOM
3. 2026-05-31
   days on market $25,900 Active 62 DOM
4. 2026-05-08
   price $25,900 497-char remark

   Show marketing remark (497 chars)

   Step into easy, comfortable living at Cottonwood Mobile Home Park! The mobile home offers peaceful open water views, creating a calm and inviting setting. Inside, you'll find 2 bedrooms, 1 bathroom, plus a versatile bonus room that can fit your needs. With washer and dryer hookups already in place, everyday living is simple and convenient. The $540 monthly lot rent includes water, sewer, and trash. If you're looking for a relaxed, resort-style atmosphere, this mobile home is a fantastic find!

5. 2026-05-05
   price $29,900 497-char remark

   Show marketing remark (497 chars)

   Step into easy, comfortable living at Cottonwood Mobile Home Park! The mobile home offers peaceful open water views, creating a calm and inviting setting. Inside, you'll find 2 bedrooms, 1 bathroom, plus a versatile bonus room that can fit your needs. With washer and dryer hookups already in place, everyday living is simple and convenient. The $540 monthly lot rent includes water, sewer, and trash. If you're looking for a relaxed, resort-style atmosphere, this mobile home is a fantastic find!

6. 2026-04-07
   price $32,500 497-char remark

   Show marketing remark (497 chars)

   Step into easy, comfortable living at Cottonwood Mobile Home Park! The mobile home offers peaceful open water views, creating a calm and inviting setting. Inside, you'll find 2 bedrooms, 1 bathroom, plus a versatile bonus room that can fit your needs. With washer and dryer hookups already in place, everyday living is simple and convenient. The $540 monthly lot rent includes water, sewer, and trash. If you're looking for a relaxed, resort-style atmosphere, this mobile home is a fantastic find!

7. 2026-03-30
   listed $34,900 Active 497-char remark

   Show marketing remark (497 chars)

   Step into easy, comfortable living at Cottonwood Mobile Home Park! The mobile home offers peaceful open water views, creating a calm and inviting setting. Inside, you'll find 2 bedrooms, 1 bathroom, plus a versatile bonus room that can fit your needs. With washer and dryer hookups already in place, everyday living is simple and convenient. The $540 monthly lot rent includes water, sewer, and trash. If you're looking for a relaxed, resort-style atmosphere, this mobile home is a fantastic find!

8. 2025-03-06
   soldstatus $39,000 Closed 497-char remark

   Show marketing remark (497 chars)

   Discover your dream retreat at Cottonwood Mobile Home park. This charming 1966 Fleetwood features updated plumbing and a beautifully remodeled bathroom. Enjoy stunning open water views, perfect for relaxation. With 2 bedrooms and 1 bathroom with a nice bonus room, this year round residence offers convenience with a washer/dryer hookup. The monthly lot rent of $540 includes water, sewer and trash. Experience resort-style living in a serene setting-don't miss out on this incredible opportunity!

9. 2025-02-25
   status Pending 497-char remark

   Show marketing remark (497 chars)

   Discover your dream retreat at Cottonwood Mobile Home park. This charming 1966 Fleetwood features updated plumbing and a beautifully remodeled bathroom. Enjoy stunning open water views, perfect for relaxation. With 2 bedrooms and 1 bathroom with a nice bonus room, this year round residence offers convenience with a washer/dryer hookup. The monthly lot rent of $540 includes water, sewer and trash. Experience resort-style living in a serene setting-don't miss out on this incredible opportunity!

10. 2025-02-24
    listed $41,000 Active 497-char remark

    Show marketing remark (497 chars)

    Discover your dream retreat at Cottonwood Mobile Home park. This charming 1966 Fleetwood features updated plumbing and a beautifully remodeled bathroom. Enjoy stunning open water views, perfect for relaxation. With 2 bedrooms and 1 bathroom with a nice bonus room, this year round residence offers convenience with a washer/dryer hookup. The monthly lot rent of $540 includes water, sewer and trash. Experience resort-style living in a serene setting-don't miss out on this incredible opportunity!

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $9,663
• − Mortgage interest: −$1,451
• − Property taxes: −$388
• − Insurance: −$130
• − Repairs & maintenance: −$773
• − Management: −$773
• − Depreciation: −$753
• Taxable income: $5,395
• Est. tax owed @ 24.0%: −$1,295
• After-tax cash flow: $4,191/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 · 11 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include the kitchen cabinets, bathroom fixtures, and roof shingles. Painting the exterior siding and updating the kitchen and bathroom would significantly enhance its curb appeal and resale value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated and worn
• Moderate roof shingles — visible wear

Value-add opportunities

• Both paint exterior siding — enhances curb appeal and value
• Resale replace worn kitchen cabinets — modernizes kitchen and adds value
• Resale update bathroom fixtures — modernizes bathroom and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated and worn	Minor	$500–3,000
roof shingles · visible wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint exterior siding — enhances curb appeal and value ↑
• Resale replace worn kitchen cabinets — modernizes kitchen and adds value ↑
• Resale update bathroom fixtures — modernizes bathroom and adds value ↑

ⓘ 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 — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

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

• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

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 (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

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: ▼ -108.07%
• Current HPI: 261.3567
• 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

-36.8% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $25,900 WRIST
• 2026-05-05 Price Changed $29,900 WRIST
• 2026-04-07 Price Changed $32,500 WRIST
• 2026-03-30 Listed $34,900 WRIST
• 2025-03-06 Sold (MLS) $39,000 WRIST
• 2025-02-25 Pending — WRIST
• 2025-02-24 Listed $41,000 WRIST