106 S Liberty St

Ohio City, OH 45874

$35,000B+

1 bd · 1.0 ba · 1,216 sqft · Built 1900 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $974/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $504/mo
• Annual: $6,050/yr
• Cap rate: 23.58%
• Cash-on-cash: 61.73%
• DSCR: 3.75
• 1% rule: 2.78%
• Cash to close: $9,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $35k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (5.1% local appreciation)).
• Location reads 60/100 on livability (#969 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, schools F.
• Van Wert City (rural): math 46% / reading 50% proficiency, ranked #476 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).
• Van Wert County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• This rent is only 18% of the median local income ($67k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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 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?
• 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.