702 Middleboro Rd

Roachester, OH 45054

$88,000B-

3 bd · 1.0 ba · 796 sqft · Built 1985 · SingleFamily · Active · 222 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,207/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $269/mo
• Annual: $3,226/yr
• Cap rate: 10.87%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• 1% rule: 1.37%
• Cash to close: $24,640

Investor read

• This is a 3-bed/1.0-bath single-family listed at $88k.
• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• It's been on market 222 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Clinton-Massie Local (rural): math 57% / reading 63% proficiency, ranked #257 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clinton-Massie Elementary School (math 64% / reading 61%, grade B, #580 of 1,584 statewide, top 37%, 863 students, 20% FRL); Clinton-Massie Middle School (math 56% / reading 64%, grade B, #266 of 654 statewide, top 41%, 397 students, 18% FRL); Clinton-Massie High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 486 students, 21% FRL) — zoned schools at 20% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 9 active listings in the ZIP; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $14k; list at $88k implies a 529% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• This rent is only 15% of the median local income ($97k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.