8032 State Route 55

Urbana, OH 43078

$69,900A

3 bd · 1.0 ba · 1,606 sqft · Built 1900 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,373/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $518/mo
• Annual: $6,214/yr
• Cap rate: 16.32%
• Cash-on-cash: 35.82%
• DSCR: 2.59
• 1% rule: 1.96%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#404 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Graham Local (rural): math 44% / reading 60% proficiency, ranked #407 of 656 in OH (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 91 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $56k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.3% vs local median 3.3% in Urbana — 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

• Built in 1900 — 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.
• 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.