227 W Clime St Lot 59 · Delphos, OH 45833

$33,500

2 bd · 2.0 ba · 1,008 sqft · Manufactured · 9 Days on market

Built 1989 Fair condition Est $41k · 19% under

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Why this score? — see what drove the A- 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 +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained single-wide home offers comfortable and affordable living with updates throughout. Featuring two bedrooms and two bathrooms, the home has been refreshed with some new flooring and a sealed roof for added peace of mind. The kitchen comes complete with range and refrigerator included and the living room has been done with double drywall to help with noise and temperature control. With the improvements already taken care of, this move-in ready home presents an excellent opportunity for first-time homebuyers, downsizers, or anyone looking for something move-in ready. Lot rent is $550 per month and buyers do need to be approved by park management.

Key facts

• Move-in ready
• New flooring
• Sealed roof

Tags

• NEW FLOORING
• SEALED ROOF
• DOUBLE DRYWALL
• MOVE-IN READY

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer
• Home design: Mobile home (residential); Entry level information not provided; Facing direction not provided
• Construction: Other foundation
• Exterior features: Shed(s)

Interior

• Kitchen: Range; Refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Refrigerator; Range; Gas water heater; Dryer; Washer; Total of 4 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $34k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $34k).
• Cap rate 24.6% vs local median 3.9% in Delphos — 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 72/100 on livability (#378 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Delphos City (town): math 77% / reading 75% proficiency, ranked #91 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($67k/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 $232 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Van Wert County population projected at -11% 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 2.81% ✓
• Cap rate: 24.64%
• Cash-on-cash: 65.54%
• DSCR: 3.92
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $41,328
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 Skinner St #68	0.38mi	2/2.0	960 (-5%)	9mo	$39,000	$41	67

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: 55.6%
• Equity multiple: 3.45×
• Total profit: $23,020
• Equity at exit: $4,995

10-year hold

• IRR: 60.6%
• Equity multiple: 7.06×
• Total profit: $56,831
• Equity at exit: $2,896

Cash invested: $9,380 (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 45833

• Home prices YoY: -15.4%
• Active inventory: 16
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $941 medium
• Mortgage (P&I): −$176
• Tax est. 1.5%: −$42 /mo · $502/yr
• Insurance: −$14
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $446

Break-even live

Break-even rent $377

Max offer price $33,500

Occupancy floor 48%

Sensitivity live

Price	-10% $469	-5% $457	+0% $446	+5% $434	+10% $423
Rent	-10% $371	-5% $409	+0% $446	+5% $483	+10% $520
Rate	-1.0pp $463	-0.5pp $454	base $446	+0.5pp $437	+1.0pp $428

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: $8,375
• Closing costs: $1,005
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-07
   statusdays on market $33,500 Pending 9 DOM
2. 2026-06-04
   days on market $33,500 Active 8 DOM
3. 2026-06-02
   days on market $33,500 Active 7 DOM
4. 2026-06-01
   days on market $33,500 Active 6 DOM
5. 2026-05-31
   days on market $33,500 Active 5 DOM
6. 2026-05-26
   listed $33,500 Active

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 17 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: $11,298
• − Mortgage interest: −$1,877
• − Property taxes: −$502
• − Insurance: −$965
• − Repairs & maintenance: −$904
• − Management: −$904
• − Depreciation: −$975
• Taxable income: $5,172
• Est. tax owed @ 24.0%: −$1,241
• After-tax cash flow: $4,108/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 · 13 photos

Fair 50/100 Cosmetic rehab

This single-wide mobile home is in fair condition with cosmetic updates needed. Fresh paint and new cabinets would significantly enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathtub and fixtures — Signs of wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Both Replace worn bathtub and fixtures — New fixtures improve functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathtub and fixtures · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Replace worn bathtub and fixtures — New fixtures improve functionality and appearance ↑

ⓘ 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: Delphos City
• NCES district ID: 3904388
• Math proficiency: 77% ▼ -8.00%
• Reading proficiency: 75% ▼ -8.00%
• Median HH income: $49,400
• Composite: 64.3/100
• National rank: #557
• State rank: #91 of 656 in OH

Livability — Delphos

• Score: 72/100
• State rank: #378
• US rank: #6142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delphos, OH
• County: Van Wert · 34,605 people
• City population: 10,822
• Population (ZIP): 10,822
• Household income: $66,919
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 2.2

Population outlook (Van Wert County) Hauer SSP2

• Today (2025): 28,235 people
• By 2030: 27,793 · -1.6%
• By 2040: 26,650 · -5.6%
• By 2050: 25,251 · -10.6%
• By 2075: 22,247 · -21.2%
• By 2100: 18,559 · -34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Serbian 2% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Van Wert

• 2024 margin: Solid R (+58.5) · D 20.4% · R 78.9%
• 2008→2024 swing: -31.3pp toward R · 2008: -27.2pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+57.4 2016: R+56.4 2012: R+40.5 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.82%
• Current HPI: 218.1437
• 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

1 event — show timeline

• 2026-05-26 Listed $33,500 WCARE