126 S Keyser Ave

Deshler, OH 43516

$14,900C-

1 bd · 1.0 ba · 864 sqft · Built 1900 · SingleFamily · Active · 584 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $845/mo
• Mortgage (P&I): −$78
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $565/mo
• Annual: $6,777/yr
• Cap rate: 51.78%
• Cash-on-cash: 162.44%
• DSCR: 8.23
• 1% rule: 5.67%
• Cash to close: $4,172

Investor read

• This is a 1-bed/1.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($845 rent vs $15k).
• It's been on market 584 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• In year one you build about $630 of equity ($103 loan paydown + $527 appreciation (3.5% local appreciation)).
• Location reads 65/100 on livability (#713 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities 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.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 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.
• 2 sale attempts since 3y 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 (3.5% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 51.8% vs local median 1.9% in Deshler — 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 is only 12% of the median local income ($82k/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 584 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?
• 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?
• 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.