102 W Lynn St

Stryker, OH 43557

$149,900B

6 bd · 2.0 ba · 2,075 sqft · Built 1920 · MultiFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,138/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$149
• HOA: −$0
• Vac / Maint / Mgmt: −$449
• Net cashflow: $754/mo
• Annual: $9,051/yr
• Cap rate: 12.33%
• Cash-on-cash: 21.56%
• DSCR: 1.96
• 1% rule: 1.43%
• Cash to close: $41,972

Investor read

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $150k.
• At list price, monthly cash flow is $754 ($9k/yr) — positive. Per door: $377/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#361 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Stryker Local (rural): math 73% / reading 73% proficiency, ranked #226 of 802 in OH (top 28%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Stryker Elementary School (math 62% / reading 67%, grade B, #522 of 1,584 statewide, top 36%, 239 students, 0% FRL); Stryker High School (math 67% / reading 67%, grade B, #137 of 781 statewide, top 19%, 150 students, 98% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; solid renter incomes; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).
• Williams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 24y 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 $42k; list at $150k implies a 253% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• This rent runs 32% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1920 — 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.