Clayton - Middlebury Friendly Village Plan

Rossford, OH 43551

$94,900B

4 bd · 2.0 ba · 1,248 sqft · Built — · Manufactured · Active · 141 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,719/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $702/mo
• Annual: $8,428/yr
• Cap rate: 15.17%
• Cash-on-cash: 31.72%
• DSCR: 2.41
• 1% rule: 1.81%
• Cash to close: $26,572

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $95k. Condition is rated good.
• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• It's been on market 141 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#417 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Rossford Exempted Village (suburban): math 44% / reading 50% proficiency, ranked #476 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rossford Elementary School (math 45% / reading 55%, grade D+, #900 of 1,584 statewide, top 57%, 837 students, 37% FRL); Rossford Junior High School (math 44% / reading 41%, grade D-, #493 of 654 statewide, top 76%, 384 students, 0% FRL); Rossford High School (math 42% / reading 57%, grade D, #390 of 781 statewide, top 54%, 437 students, 73% FRL).
• Market conditions: Rents rising fast (+7.3%/yr); 231 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 493 units permitted in Wood County in 2024 (48 in 5+ unit buildings).
• Wood County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.2% vs local median 4.5% in Rossford — 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.

Questions for listing agent

• It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — Dated cabinetry needs updating.
• Moderate: kitchen countertops — Countertops appear worn and need replacement.
• Minor: bathroom fixtures — Simple fixtures could be upgraded for a fresh look.