303 Wright St · Findlay, IL 62534

$49,500

3 bd · 1.0 ba · 980 sqft · Manufactured · 44 Days on market

Built 1989 5,650 sqft lot

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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 +7.5/15.0
• Appreciation +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Enjoy your morning coffee on the covered deck of this 3 bedroom, 1 bath mobile home. Has a 21 X 23 detached garage for extra storage.

Key facts

• Covered deck
• Detached garage
• 5,650 sq ft lot

Tags

• COVERED DECK
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($902 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#860 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Okaw Valley CUSD 302 (rural): math 11% / reading 29% proficiency, ranked #424 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 41 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($342 loan paydown + $2k appreciation (3.6% local appreciation)).
• Shelby County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.82% ✓
• Cap rate: 15.34%
• Cash-on-cash: 32.31%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 3.25×
• Total profit: $31,229
• Equity at exit: $23,841

10-year hold

• IRR: 38.4%
• Equity multiple: 6.49×
• Total profit: $76,090
• Equity at exit: $38,025

Cash invested: $13,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62534

• Home prices YoY: 3.5%
• Active inventory: 8
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $902 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$59 /mo · $708/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $373

Break-even live

Break-even rent $429

Max offer price $49,500

Occupancy floor 54%

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $49,500 Active 44 DOM
2. 2026-06-17
   days on market $49,500 Active 43 DOM
3. 2026-06-16
   days on market $49,500 Active 42 DOM
4. 2026-06-15
   days on market $49,500 Active 41 DOM
5. 2026-06-14
   days on market $49,500 Active 39 DOM
6. 2026-06-13
   days on market $49,500 Active 38 DOM
7. 2026-06-10
   days on market $49,500 Active 36 DOM
8. 2026-06-09
   days on market $49,500 Active 35 DOM
9. 2026-06-08
   days on market $49,500 Active 34 DOM
10. 2026-06-07
    days on market $49,500 Active 33 DOM
11. 2026-06-05
    days on market $49,500 Active 30 DOM
12. 2026-06-03
    days on market $49,500 Active 29 DOM
13. 2026-06-02
    days on market $49,500 Active 28 DOM
14. 2026-06-01
    days on market $49,500 Active 27 DOM
15. 2026-05-31
    days on market $49,500 Active 26 DOM
16. 2026-05-30
    days on market $49,500 Active 25 DOM
17. 2026-05-05
    status Pending 133-char remark

    Show marketing remark (133 chars)

    Enjoy your morning coffee on the covered deck of this 3 bedroom, 1 bath mobile home. Has a 21 X 23 detached garage for extra storage.

18. 2026-04-10
    listed $49,500 Active 133-char remark

    Show marketing remark (133 chars)

    Enjoy your morning coffee on the covered deck of this 3 bedroom, 1 bath mobile home. Has a 21 X 23 detached garage for extra storage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $708 · $59/mo
• Projected year-2 tax: $916 · $76/mo
• Expected delta: +$208/yr (+$17/mo · 29.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,820
• − Mortgage interest: −$2,773
• − Property taxes: −$708
• − Insurance: −$248
• − Repairs & maintenance: −$866
• − Management: −$866
• − Depreciation: −$1,440
• Taxable income: $3,921
• Est. tax owed @ 24.0%: −$941
• After-tax cash flow: $3,537/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.

Schools (NCES district)

• District: Okaw Valley CUSD 302
• NCES district ID: 1700223
• Math proficiency: 11% ▲ 2.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $48,236
• Composite: 17.67/100
• National rank: #9028
• State rank: #424 of 620 in IL

Livability — Findlay

• Score: 62/100
• State rank: #860
• US rank: #16820

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: Findlay, IL
• Population (ZIP): 1,066

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 19,675 · -4.1%
• By 2040: 17,851 · -13.0%
• By 2050: 15,973 · -22.1%
• By 2075: 11,799 · -42.5%
• By 2100: 8,030 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 4% Italian 2% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+60.2) · D 19.2% · R 79.5% · Other 1.4%
• 2008→2024 swing: -40.5pp toward R · 2008: -19.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+57.2 2016: R+54.3 2012: R+33.7 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.56%
• Current HPI: 105.302
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

2 events — show timeline

• 2026-05-05 Pending — CIBR
• 2026-04-10 Listed $49,500 CIBR

Property tax history

+15.3%/yr

Latest (2024): $708 · +7.0% YoY. Source: county tax records.