2276 Lodge Rd SW

Sherrodsville, OH 44675

$180,000D

3 bd · 1.5 ba · 1,350 sqft · Built 1980 · Other · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,353/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $-175/mo
• Annual: $-2,099/yr
• Cap rate: 5.13%
• Cash-on-cash: -4.16%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $50,400

Investor read

• This is a 3-bed/1.5-bath other listed at $180k.
• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (24.8% below list).
• It's been on market 73 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (24.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#988 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
• Carrollton Exempted Village (town): math 46% / reading 58% proficiency, ranked #419 of 656 in OH (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carrollton Elementary School (math 50% / reading 57%, grade C, #834 of 1,584 statewide, top 53%, 820 students, 57% FRL); Carrollton High School-Carrollton Middle School (math 43% / reading 58%, grade D+, #380 of 781 statewide, top 49%, 1,005 students, 39% FRL).
• Market conditions: 14 active listings in the ZIP; solid renter incomes; 2 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $180k implies a 90% gain — meaningful room to come down on a strong offer.

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?
• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.