219 W College St

Scio, OH 43988

$69,900A-

3 bd · 2.0 ba · 1,556 sqft · Built 1955 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,218/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $463/mo
• Annual: $5,555/yr
• Cap rate: 14.24%
• Cash-on-cash: 28.38%
• DSCR: 2.26
• 1% rule: 1.74%
• Cash to close: $19,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 85 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($483 loan paydown + $3k appreciation (4.0% local appreciation)).
• Location reads 62/100 on livability (#904 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Harrison Hills City (rural): math 35% / reading 51% proficiency, ranked #522 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 1 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $70k implies a 100% gain — meaningful room to come down on a strong offer.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.