379 Sunset Dr

Chillicothe, OH 45601

$10,000F

2 bd · 1.0 ba · 1,560 sqft · Built 1956 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,296/mo
• Mortgage (P&I): −$1,374
• Tax + insurance: −$437
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $-787/mo
• Annual: $-9,444/yr
• Cap rate: 2.69%
• Cash-on-cash: -12.87%
• DSCR: 0.43
• 1% rule: 0.49%
• Cash to close: $73,382

Investor read

• This is a 2-bed/1.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $-787 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 22 days — a 2% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $10k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chillicothe Primary School (570 students, 0% FRL); Chillicothe Middle School (math 29% / reading 43%, grade F, #541 of 654 statewide, top 83%, 395 students, 0% FRL); Chillicothe High School (math 32% / reading 57%, grade F, #470 of 781 statewide, top 62%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 39.3% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 179 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 2.7% vs local median 4.3% in Chillicothe — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 1956 — 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.
• 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?
• 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.