1751 Crawford Ave

Wellsville, OH 43968

$99,000B+

6 bd · 2.5 ba · 1,656 sqft · Built 1932 · MultiFamily · Active · 254 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,926/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$404
• Net cashflow: $783/mo
• Annual: $9,394/yr
• Cap rate: 16.45%
• Cash-on-cash: 36.29%
• DSCR: 2.61
• 1% rule: 1.95%
• Cash to close: $27,720

Investor read

• This is a 6-bed/2.5-bath multifamily listed at $99k.
• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• It's been on market 254 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($684 loan paydown + $2k appreciation (1.8% local appreciation)).
• Location reads 69/100 on livability (#505 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Wellsville Local (town): math 34% / reading 46% proficiency, ranked #546 of 656 in OH (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $56/mo; built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• Columbiana County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 37% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.