140 1st St

Powhatan Point, OH 43942

$87,500B

1 bd · 1.5 ba · 1,364 sqft · Built 1948 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$459
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $615/mo
• Annual: $7,374/yr
• Cap rate: 14.72%
• Cash-on-cash: 30.10%
• DSCR: 2.34
• 1% rule: 1.71%
• Cash to close: $24,500

Investor read

• This is a 1-bed/1.5-bath single-family listed at $88k. Condition is rated fair.
• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 33 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.1%/yr); year-one equity from $605 of loan paydown is wiped out by about $943 of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#792 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Switzerland Of Ohio Local (rural): math 39% / reading 51% proficiency, ranked #503 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1948 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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: Kitchen cabinets — Older cabinets in poor condition.
• Major: Bathroom fixtures — Outdated and worn fixtures.
• Major: Flooring — Worn carpet and outdated flooring.
• Major: Paint — Worn and discolored paint.