5701-5719 Game Farm Rd

Urbana, OH 43078

$279,010D-

2 bd · 1.0 ba · 1,168 sqft · Built 1955 · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,153/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-851/mo
• Annual: $-10,208/yr
• Cap rate: 2.63%
• Cash-on-cash: -13.07%
• DSCR: 0.42
• 1% rule: 0.41%
• Cash to close: $78,123

Investor read

• This is a 2-bed/1.0-bath single-family listed at $279k.
• At list price, monthly cash flow is $-851 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (53.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (58.7% below list).
• It's been on market 30 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (58.7% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#404 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• West Liberty-Salem Local (rural): math 69% / reading 73% proficiency, ranked #136 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: West Liberty-Salem Elementary School (math 75% / reading 73%, grade A, #301 of 1,584 statewide, top 20%, 535 students, 60% FRL); West Liberty-Salem Middle School (288 students, 0% FRL); West Liberty-Salem High School (math 65% / reading 74%, grade B, #106 of 781 statewide, top 16%, 365 students, 0% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 91 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1955 — 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.
• 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.
• 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.