150 N 1st St

Hamler, OH 43524

$125,000C+

3 bd · 2.0 ba · 1,708 sqft · Built 1900 · SingleFamily · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $107/mo
• Annual: $1,285/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• 1% rule: 0.88%
• Cash to close: $35,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (11.7% below list).
• It's been on market 41 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (11.7% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($864 loan paydown + $6k appreciation (4.8% local appreciation)).
• Location reads 64/100 on livability (#763 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Patrick Henry Local (rural): math 69% / reading 72% proficiency, ranked #148 of 656 in OH (top 23%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Patrick Henry Elementary School (math 87% / reading 77%, grade A+, #116 of 1,584 statewide, top 9%, 324 students, 0% FRL); Patrick Henry Middle School (math 68% / reading 71%, grade A, #143 of 654 statewide, top 23%, 275 students, 0% FRL); Patrick Henry High School (math 52% / reading 64%, grade C, #269 of 781 statewide, top 34%, 252 students, 99% FRL) — zoned schools at 33% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 18 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $85k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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.