305 Grandview Ave

Mingo Junction, OH 43938

$90,000C+

3 bd · 1.0 ba · 1,618 sqft · Built 1905 · SingleFamily · Active · 326 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $459/mo
• Annual: $5,504/yr
• Cap rate: 12.41%
• Cash-on-cash: 21.84%
• DSCR: 1.97
• 1% rule: 1.44%
• Cash to close: $25,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 326 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#381 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: commute D, amenities F, employment D-.
• Indian Creek Local (suburban): math 42% / reading 56% proficiency, ranked #455 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Indian Creek High School (math 27% / reading 62%, grade F, #470 of 781 statewide, top 62%, 572 students, 54% FRL) — zoned schools at 54% FRL track the district average.
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 2 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 326 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-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.