23339 W 23rd St

Bellaire, OH 43906

$78,000C

1 bd · 1.0 ba · 648 sqft · Built 1941 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $781/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$164
• Net cashflow: $78/mo
• Annual: $932/yr
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $21,840

Investor read

• This is a 1-bed/1.0-bath single-family listed at $78k.
• At list price, monthly cash flow is $78 ($932/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($781 rent vs $78k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($539 loan paydown + $1k appreciation (1.8% local appreciation)).
• Location reads 69/100 on livability (#535 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Bellaire Local (rural): math 73% / reading 56% proficiency, ranked #430 of 802 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 26 active listings in the ZIP; lower-income renter base — watch delinquency; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $667; list at $78k implies a 11594% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.