217 Hunts Ave

Barnesville, OH 43713

$66,000B+

2 bd · 1.0 ba · 1,287 sqft · Built 1900 · SingleFamily · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $947/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $331/mo
• Annual: $3,972/yr
• Cap rate: 12.31%
• Cash-on-cash: 21.49%
• DSCR: 1.96
• 1% rule: 1.43%
• Cash to close: $18,480

Investor read

• This is a 2-bed/1.0-bath single-family listed at $66k.
• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $66k).
• It's been on market 33 days — a 3% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#568 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Barnesville Exempted Village (town): math 48% / reading 59% proficiency, ranked #403 of 656 in OH (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Barnesville Elementary School (math 60% / reading 61%, grade B-, #657 of 1,584 statewide, top 42%, 544 students, 40% FRL); Barnesville Middle School (math 45% / reading 57%, grade C, #405 of 654 statewide, top 63%, 436 students, 38% FRL); Barnesville High School (math 32% / reading 62%, grade D-, #435 of 781 statewide, top 59%, 400 students, 31% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.