114 Hawthorne Rd

Sunbury, OH 43074

$125,000B

4 bd · 1.5 ba · 1,476 sqft · Built 1961 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,290/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$481
• Net cashflow: $856/mo
• Annual: $10,272/yr
• Cap rate: 14.51%
• Cash-on-cash: 29.35%
• DSCR: 2.31
• 1% rule: 1.83%
• Cash to close: $35,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $125k.
• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• It's been on market 32 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#274 in OH, #4,498 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Big Walnut Local (rural): math 68% / reading 75% proficiency, ranked #103 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Big Walnut Elementary School (math 77% / reading 77%, grade A, #221 of 1,584 statewide, top 16%, 387 students, 10% FRL); Big Walnut Middle School (math 67% / reading 77%, grade A, #115 of 654 statewide, top 18%, 635 students, 13% FRL); Big Walnut High School (math 57% / reading 79%, grade B, #133 of 781 statewide, top 17%, 1,226 students, 12% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents flat; 249 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 29y 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 (-3.0% appreciation + 0.3% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.5% vs local median 2.7% in Sunbury — 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.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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.
• 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.