253 S Fifth Ave

Middleport, OH 45760

$69,900A-

3 bd · 1.0 ba · 1,411 sqft · Built 1900 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,106/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$491
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $16/mo
• Annual: $196/yr
• Cap rate: 13.90%
• Cash-on-cash: 27.16%
• DSCR: 2.21
• 1% rule: 1.58%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $16 ($196/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 108 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• In year one you build about $523 of equity ($483 loan paydown + $40 appreciation (0.1% local appreciation)).
• Location reads 64/100 on livability (#765 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• Meigs Local (rural): math 20% / reading 35% proficiency, ranked #594 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; lower-income renter base — watch delinquency; 3 units permitted in Meigs County in 2024 (0 in 5+ unit buildings).
• Meigs County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 36% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.