19445 Buena Vista Rd

Rockbridge, OH 43149

$172,900B-

4 bd · 1.0 ba · 1,248 sqft · Built 1982 · SingleFamily · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,953/mo
• Mortgage (P&I): −$907
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $356/mo
• Annual: $4,276/yr
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $48,412

Investor read

• This is a 4-bed/1.0-bath single-family listed at $173k.
• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• It's been on market 70 days — a 6% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (6.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.0% local appreciation)).
• Location reads 44/100 on livability (#1,188 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools D+, amenities F.
• Logan Elm Local (rural): math 57% / reading 59% proficiency, ranked #310 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 45 active listings in the ZIP; 11 units permitted in Hocking County in 2024 (0 in 5+ unit buildings).
• Hocking County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 15y 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.
• Current owner paid $9k; list at $173k implies a 1738% gain — meaningful room to come down on a strong offer.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.8% vs local median 1.0% in Rockbridge — 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 runs 41% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 D-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.