112 Adams St

Wellington, OH 44090

$115,000C

4 bd · 1.5 ba · 1,778 sqft · Built 1900 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $144/mo
• Annual: $1,726/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• 1% rule: 1.10%
• Cash to close: $32,200

Investor read

• This is a 4-bed/1.5-bath single-family listed at $115k.
• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#762 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, health & safety F.
• Wellington Exempted Village (town): math 44% / reading 50% proficiency, ranked #472 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Westwood Elementary School (math 47% / reading 42%, grade F, #991 of 1,584 statewide, top 64%, 294 students, 44% FRL); Mccormick Middle School (math 47% / reading 52%, grade C, #421 of 654 statewide, top 65%, 378 students, 34% FRL); Wellington High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 248 students, 37% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• 2 sale attempts since 5y 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.

Questions for listing agent

• Built in 1900 — 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 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.