4893 N Us Highway 68

Urbana, OH 43078

$387,900D

4 bd · 2.0 ba · 2,310 sqft · Built 2005 · SingleFamily · Pending · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,498/mo
• Mortgage (P&I): −$2,034
• Tax + insurance: −$493
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-1,344/mo
• Annual: $-16,122/yr
• Cap rate: 2.14%
• Cash-on-cash: -14.84%
• DSCR: 0.34
• 1% rule: 0.39%
• Cash to close: $108,612

Investor read

• This is a 4-bed/2.0-bath single-family listed at $388k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (61.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (61.4% below list).
• It's been on market 42 days — a 3% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (61.4% below list) — sets the bar for 1% rule.
• In year one you build about $41k of equity ($3k loan paydown + $39k 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-.
• West Liberty-Salem Local (rural): math 69% / reading 73% proficiency, ranked #136 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: West Liberty-Salem Elementary School (math 75% / reading 73%, grade A, #301 of 1,584 statewide, top 20%, 535 students, 60% FRL); West Liberty-Salem Middle School (288 students, 0% FRL); West Liberty-Salem High School (math 65% / reading 74%, grade B, #106 of 781 statewide, top 16%, 365 students, 0% FRL).
• 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.
• 5 sale attempts since 11y 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 $320k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.1% vs local median 3.3% in Urbana — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 61% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.