133 Coates Ct

North Lewisburg, OH 43060

$295,000C-

2 bd · 2.0 ba · 1,565 sqft · Built 2008 · SingleFamily · Active · 275 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,957/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$492
• HOA: −$0
• Vac / Maint / Mgmt: −$621
• Net cashflow: $297/mo
• Annual: $3,566/yr
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $82,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $295k. Condition is rated good.
• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• It's been on market 275 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#672 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Triad Local (rural): math 61% / reading 61% proficiency, ranked #255 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Triad Elementary School (math 77% / reading 62%, grade A-, #391 of 1,584 statewide, top 27%, 308 students, 43% FRL); Triad Middle School (math 58% / reading 59%, grade B, #287 of 654 statewide, top 45%, 243 students, 42% FRL); Triad High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 272 students, 36% FRL).
• Market conditions: 6 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.
• 10 sale attempts since 19y 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 $122k; list at $295k implies a 141% gain — meaningful room to come down on a strong offer.
• At $2,957/mo this rent would consume 57% of the median local household income ($62k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.