103 E Fremont St

Arcadia, OH 44804

$119,900C

2 bd · 1.0 ba · 1,343 sqft · Built 1910 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,106/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $86/mo
• Annual: $1,036/yr
• Cap rate: 7.16%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• 1% rule: 0.92%
• Cash to close: $33,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (7.8% below list).
• It's been on market 17 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (7.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#296 in OH, #4,811 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Arcadia Local (rural): math 65% / reading 77% proficiency, ranked #144 of 656 in OH (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; solid renter incomes; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• This rent is only 14% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1910 — 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 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?
• 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.