208 W Main St

Port Washington, OH 43837

$119,900C+

2 bd · 1.0 ba · 1,455 sqft · Built 1879 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $51/mo
• Annual: $610/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• 1% rule: 0.93%
• Cash to close: $33,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k. Condition is rated poor.
• At list price, monthly cash flow is $51 ($610/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 $111k (7.2% below list).
• It's been on market 31 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (7.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($829 loan paydown + $9k appreciation (7.7% local appreciation)).
• Location reads 61/100 on livability (#939 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, schools B+; Watch: crime D+, amenities F, commute F.
• Indian Valley Local (rural): math 63% / reading 68% proficiency, ranked #214 of 656 in OH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1879 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 244 units permitted in Tuscarawas County in 2024 (0 in 5+ unit buildings).
• Tuscarawas County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1879 — 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — No photos of the roof.
• Major: exterior siding — No photos of the exterior siding.
• Major: interior walls/paint — No photos of the interior walls/paint.
• Major: windows — No photos of the windows.
• Major: HVAC/mechanicals — No photos of the HVAC/mechanicals.
• Major: landscaping/curb appeal — No photos of the landscaping/curb appeal.