11377 Township Road 266 #113 · Lakeview, OH 43331

$39,000

2 bd · 1.0 ba · 480 sqft · Manufactured · 93 Days on market

Manufactured home Built 2007 Fair condition $81/sqft · 19% below area Est $48k · 19% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Livability +3.2/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.5

Listing remarks

Your Lake Life awaits at Indian Lake Estates, unit 113! Whether you're looking for a weekend retreat, summer home, or a year round sanctuary, look no further! This 2007 Breckenridge offers an affordable opportunity to be at the lake. Features of this park model include: 2 full bedrooms (NO LOFT/STAIRS), located on a LARGE corner lot, covered concrete patio, a shed, dinette/bed combo in bunkroom, and vaulted ceilings. Community amenities include: Year round/full time use of Park Model, gated community, freshly paved roads, In-ground pool, Putt Putt, Shuffleboard, Basketball, Playground, overflow guest parking and Shelter house. Lot rent is $525.

Key facts

• Gated community
• Large corner lot
• Boat dock rentals

Tags

• LARGE CORNER LOT
• COVERED CONCRETE PATIO
• GATED COMMUNITY
• IN GROUND POOL
• BOAT DOCK RENTALS
• PUBLIC BOAT RAMPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($853 rent vs $39k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.7% 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; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($60k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 2.19% ✓
• Cap rate: 18.72%
• Cash-on-cash: 44.40%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (median comp): $48,359
• List price: $39,000
• Delta: -19.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11377 Township Road 266 55	0.06mi	3/1.0 (+1)	480 (0%)	0mo	$42,000	$88	92
11539 Lake Dr #72	0.40mi	1/1.0 (-1)	472 (-2%)	0mo	$152,000	$322	73
11377 Township Road 266 #77	0.06mi	1/1.0 (-1)	432 (-10%)	9mo	$57,000	$132	68
11377 Township Road 266 #61	0.06mi	1/1.0 (-1)	432 (-10%)	11mo	$56,000	$130	66
11377 Township Road 266 #15	0.06mi	1/1.0 (-1)	432 (-10%)	11mo	$45,000	$104	66
11377 Township Road 266 #22	0.06mi	1/1.0 (-1)	538 (+12%)	9mo	$19,000	$35	64
11539 Lake Dr #171	0.37mi	2/1.0	418 (-13%)	1mo	$144,000	$344	61
11065 County Road 293 #13	0.35mi	1/1.0 (-1)	540 (+12%)	4mo	$85,000	$157	54

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: 41.4%
• Equity multiple: 2.78×
• Total profit: $19,425
• Equity at exit: $5,815

10-year hold

• IRR: 47.6%
• Equity multiple: 5.59×
• Total profit: $50,101
• Equity at exit: $3,372

Cash invested: $10,920 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 21 active · 10 under contract
• Months of supply: 15.8 mo (6%/mo absorbed)
• Median asking: $62,000 ($157/sqft)
• Median days on market: 36 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: -35.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43331

• Home prices YoY: -30.0%
• Active inventory: 145
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $853 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $404

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 48%

Sensitivity live

Price	-10% $431	-5% $417	+0% $404	+5% $391	+10% $377
Rent	-10% $337	-5% $370	+0% $404	+5% $438	+10% $471
Rate	-1.0pp $424	-0.5pp $414	base $404	+0.5pp $394	+1.0pp $384

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: $9,750
• Closing costs: $1,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Guest parking available (directions reference parking in guest lot)
• HOA & community: HOA covers snow removal, grounds maintenance, structure maintenance, pool, sewer, trash and water

Exterior

• Utilities: Supplied waterPublic sewerPropane availableSewer connected
• Home design: Residential mobile homeBuilt in 2007
• Construction: Vinyl siding
• Exterior features: Shed(s)Association poolLeased lotLake-related waterfront

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioningElectric heatingPropane heating
• Interior features: Cathedral ceilingsCeiling fans

Listing history 50 events

1. 2026-08-08
   days on market $39,000 Active 93 DOM
2. 2026-08-07
   days on market $39,000 Active 92 DOM
3. 2026-08-06
   days on market $39,000 Active 91 DOM
4. 2026-08-05
   days on market $39,000 Active 90 DOM
5. 2026-08-04
   days on market $39,000 Active 89 DOM
6. 2026-08-03
   days on market $39,000 Active 88 DOM
7. 2026-07-31
   days on market $39,000 Active 85 DOM
8. 2026-07-30
   days on market $39,000 Active 84 DOM
9. 2026-07-29
   days on market $39,000 Active 83 DOM
10. 2026-07-27
    days on market $39,000 Active 81 DOM
11. 2026-07-25
    days on market $39,000 Active 79 DOM
12. 2026-07-24
    days on market $39,000 Active 78 DOM
13. 2026-07-23
    days on market $39,000 Active 77 DOM
14. 2026-07-22
    days on market $39,000 Active 76 DOM
15. 2026-07-21
    pricedays on market $39,000 Active 75 DOM
16. 2026-07-20
    days on market $44,900 Active 74 DOM
17. 2026-07-18
    days on market $44,900 Active 72 DOM
18. 2026-07-16
    days on market $44,900 Active 70 DOM
19. 2026-07-15
    days on market $44,900 Active 69 DOM
20. 2026-07-14
    days on market $44,900 Active 68 DOM
21. 2026-07-13
    days on market $44,900 Active 67 DOM
22. 2026-07-12
    days on market $44,900 Active 66 DOM
23. 2026-07-12
    days on market $44,900 Active 65 DOM
24. 2026-07-10
    days on market $44,900 Active 64 DOM
25. 2026-07-09
    days on market $44,900 Active 63 DOM
26. 2026-07-07
    days on market $44,900 Active 61 DOM
27. 2026-07-06
    days on market $44,900 Active 60 DOM
28. 2026-07-05
    days on market $44,900 Active 59 DOM
29. 2026-07-05
    days on market $44,900 Active 58 DOM
30. 2026-07-03
    days on market $44,900 Active 57 DOM
31. 2026-07-03
    days on market $44,900 Active 56 DOM
32. 2026-07-01
    days on market $44,900 Active 55 DOM
33. 2026-06-30
    days on market $44,900 Active 54 DOM
34. 2026-06-29
    days on market $44,900 Active 53 DOM
35. 2026-06-28
    days on market $44,900 Active 52 DOM
36. 2026-06-27
    days on market $44,900 Active 51 DOM
37. 2026-06-26
    pricedays on market $44,900 Active 50 DOM
38. 2026-06-22
    days on market $49,000 Active 46 DOM
39. 2026-06-21
    days on market $49,000 Active 45 DOM
40. 2026-06-21
    days on market $49,000 Active 44 DOM
41. 2026-06-18
    days on market $49,000 Active 42 DOM
42. 2026-06-17
    days on market $49,000 Active 41 DOM
43. 2026-06-16
    days on market $49,000 Active 40 DOM
44. 2026-06-15
    days on market $49,000 Active 39 DOM
45. 2026-06-13
    days on market $49,000 Active 37 DOM
46. 2026-06-12
    days on market $49,000 Active 36 DOM
47. 2026-06-09
    days on market $49,000 Active 33 DOM
48. 2026-06-08
    days on market $49,000 Active 32 DOM
49. 2026-06-08
    days on market $49,000 Active 31 DOM
50. 2026-06-07
    days on market $49,000 Active 30 DOM

ⓘ 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 ≥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: $10,231
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$818
• − Management: −$818
• − Depreciation: −$1,135
• Taxable income: $4,495
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $3,769/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 · 2 photos

Fair 45/100 Cosmetic rehab Est. rehab $2,400–$7,200 screening

This manufactured home requires cosmetic repairs, including a new roof and exterior siding, as well as routine maintenance such as painting and landscaping. Updates to these areas can significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and potential leaks.
• Moderate exterior siding — Aged and may need repainting or replacement.
• Minor landscaping — Overgrown and could benefit from trimming.

Value-add opportunities

• Both painting — Fresh paint can improve the home's curb appeal and interior aesthetics. ↑
• Both landscaping — A well-maintained landscape enhances curb appeal and can attract more potential buyers or 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

• 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

Property features AI

Finance

• Other: Guest parking available (directions reference parking in guest lot)
• HOA & community: HOA covers snow removal, grounds maintenance, structure maintenance, pool, sewer, trash and water

Exterior

• Utilities: Supplied waterPublic sewerPropane availableSewer connected
• Home design: Residential mobile homeBuilt in 2007
• Construction: Vinyl siding
• Exterior features: Shed(s)Association poolLeased lotLake-related waterfront

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioningElectric heatingPropane heating
• Interior features: Cathedral ceilingsCeiling fans

Price history

1 event — show timeline

• 2026-05-07 Listed $49,000 WRIST