2883 County Road 24

Stryker, OH 43557

$99,000B

4 bd · 2.0 ba · 2,704 sqft · Built 1920 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,348/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$479
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $67/mo
• Annual: $803/yr
• Cap rate: 10.91%
• Cash-on-cash: 16.48%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $27,720

Investor read

• This is a 4-bed/2.0-bath single-family listed at $99k. Condition is rated fair.
• At list price, monthly cash flow is $67 ($803/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 17 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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: flood insurance adds $314/mo; 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.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $99k implies a 60% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and peeling paint.
• Major: interior walls — Signs of water damage and peeling paint.
• Major: kitchen cabinets — Outdated and worn-out appearance.
• Major: bathroom fixtures — Outdated and worn-out appearance.
• Major: flooring — Worn carpet and flooring in multiple rooms.
• Major: HVAC system — No visible damage, but may need inspection and replacement.