823 W Mansfield St

New Washington, OH 44854

$175,000D+

3 bd · 2.0 ba · 1,352 sqft · Built 1953 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,218/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $-123/mo
• Annual: $-1,472/yr
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• 1% rule: 0.70%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.4% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $122k (30.4% below list) — sets the bar for 1% rule.
• In year one you build about $205 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 71/100 on livability (#422 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Buckeye Central Local (rural): math 73% / reading 73% proficiency, ranked #123 of 656 in OH (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 8 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• Built in 1953 — 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 A-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?
• 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.