8931 France Ave

Custar, OH 43511

$88,000B

4 bd · 1.0 ba · 1,422 sqft · Built 1917 · SingleFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,565/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $699/mo
• Annual: $8,385/yr
• Cap rate: 15.82%
• Cash-on-cash: 34.03%
• DSCR: 2.51
• 1% rule: 1.78%
• Cash to close: $24,640

Investor read

• This is a 4-bed/1.0-bath single-family listed at $88k.
• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 45 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($608 loan paydown + $2k appreciation (1.9% local appreciation)).
• Location reads 62/100 on livability (#911 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Bowling Green City School District (town): math 40% / reading 58% proficiency, ranked #469 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenwood Elementary School (math 52% / reading 67%, grade B-, #670 of 1,584 statewide, top 45%, 274 students, 43% FRL); Bowling Green Middle School (math 41% / reading 53%, grade D+, #451 of 654 statewide, top 70%, 630 students, 32% FRL); Bowling Green High School (math 29% / reading 65%, grade D-, #435 of 781 statewide, top 59%, 807 students, 23% FRL) — zoned schools at 33% FRL track the district average.
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; solid renter incomes; 493 units permitted in Wood County in 2024 (48 in 5+ unit buildings).
• Wood County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 24y 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 (1.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1917 — 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.
• 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?
• 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.