107 Township Road 810 #11

West Salem, OH 44287

$42,500A

2 bd · 1.0 ba · 924 sqft · Built 1995 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,044/mo
• Mortgage (P&I): −$223
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $531/mo
• Annual: $6,371/yr
• Cap rate: 21.28%
• Cash-on-cash: 53.54%
• DSCR: 3.38
• 1% rule: 2.46%
• Cash to close: $11,900

Investor read

• This is a 2-bed/1.0-bath single-family listed at $42k. Condition is rated fair.
• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• It's been on market 43 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($294 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#611 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Black River Local (rural): math 55% / reading 66% proficiency, ranked #278 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $12k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent is only 18% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are wooden and show some wear, but are not in critical condition.
• Minor: Bathroom fixtures — The fixtures appear dated and may need updating.
• Minor: Living room carpet — The carpet looks worn and may need replacing.