1029 Keystone Rd

Vinton, OH 45686

$22,842F

3 bd · 2.0 ba · 1,560 sqft · Built 1973 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,216/mo
• Mortgage (P&I): −$1,318
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $-533/mo
• Annual: $-6,391/yr
• Cap rate: 3.75%
• Cash-on-cash: -9.08%
• DSCR: 0.60
• 1% rule: 0.48%
• Cash to close: $70,394

Investor read

• This is a 3-bed/2.0-bath single-family listed at $23k.
• At list price, monthly cash flow is $-533 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.5% local appreciation)).
• Location reads 64/100 on livability (#802 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, crime D+.
• Gallia County Local (rural): math 37% / reading 49% proficiency, ranked #521 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.7% of price.
• Market conditions: 23 active listings in the ZIP; 10 units permitted in Gallia County in 2024 (0 in 5+ unit buildings).
• Gallia County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.