84 Powerhouse Rd

Adena, OH 43917

$82,500B-

2 bd · 1.0 ba · 1,032 sqft · Built 1920 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $955/mo
• Mortgage (P&I): −$433
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $226/mo
• Annual: $2,715/yr
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• 1% rule: 1.16%
• Cash to close: $23,100

Investor read

• This is a 2-bed/1.0-bath single-family listed at $82k.
• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $82k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $44 of equity ($570 loan paydown + $-526 appreciation (-0.6% local appreciation)).
• Location reads 60/100 on livability (#978 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Buckeye Local (rural): math 44% / reading 53% proficiency, ranked #471 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 2 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y 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 $66k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.