6040 Pinecrest Dr

Zanesville, OH 43701

$1D+

7 bd · 1.0 ba · 2,608 sqft · Built 1876 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,658/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $1,310/mo
• Annual: $15,721/yr
• Cap rate: 1572123.28%
• Cash-on-cash: 5614703.53%
• DSCR: 249823.71
• 1% rule: 165836.00%
• Cash to close: $0

Investor read

• This is a 7-bed/1.0-bath single-family listed at $1.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• It's been on market 34 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#290 in OH, #4,764 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F, employment F.
• West Muskingum Local (rural): math 46% / reading 62% proficiency, ranked #387 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Muskingum Elementary School (math 61% / reading 74%, grade B+, #446 of 1,584 statewide, top 29%, 677 students, 48% FRL); West Muskingum Middle School (math 42% / reading 55%, grade C-, #435 of 654 statewide, top 67%, 496 students, 43% FRL); West Muskingum High School (math 10% / reading 67%, grade F, #555 of 781 statewide, top 71%, 369 students, 34% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.2%/yr); 300 active listings in the ZIP; 140 units permitted in Muskingum County in 2024 (100 in 5+ unit buildings).
• Muskingum County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 1572123.3% vs local median 3.2% in Zanesville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1876 — 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?
• 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.
• 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.