268 S Wisconsin Ave

Wellston, OH 45692

$53,600B

3 bd · 1.0 ba · 1,656 sqft · Built 1900 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,008/mo
• Mortgage (P&I): −$281
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $423/mo
• Annual: $5,071/yr
• Cap rate: 15.75%
• Cash-on-cash: 33.79%
• DSCR: 2.50
• 1% rule: 1.88%
• Cash to close: $15,008

Investor read

• This is a 3-bed/1.0-bath single-family listed at $54k. Condition is rated fair.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• It's been on market 18 days — a 2% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $371 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#606 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, amenities F.
• Wellston City (rural): math 38% / reading 47% proficiency, ranked #532 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bundy Elementary School (297 students, 0% FRL); Wellston Middle School (math 42% / reading 47%, grade D, #477 of 654 statewide, top 74%, 301 students, 0% FRL); Wellston High School (math 22% / reading 52%, grade F, #564 of 781 statewide, top 74%, 377 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 62 active listings in the ZIP; 32 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts; this cycle's ask has dropped $4k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.8% vs local median 3.1% in Wellston — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and peeling paint
• Major: roof — Appears aged and may need replacement
• Major: flooring — Worn-out carpet and hardwood floors in need of refinishing
• Major: interior walls — Peeling paint and potential water damage
• Major: bathrooms — Old-fashioned fixtures and potential plumbing issues
• Major: HVAC/mechanicals — No visible signs of recent maintenance or upgrades