47 Main St

Amesville, OH 45711

$187,500D+

5 bd · 1.5 ba · 2,163 sqft · Built 1925 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,460/mo
• Mortgage (P&I): −$983
• Tax + insurance: −$288
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $-118/mo
• Annual: $-1,416/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• 1% rule: 0.78%
• Cash to close: $52,500

Investor read

• This is a 5-bed/1.5-bath single-family listed at $188k.
• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (22.1% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $146k (22.1% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (7.7% local appreciation)).
• Location reads 66/100 on livability (#659 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Federal Hocking Local (rural): math 31% / reading 43% proficiency, ranked #552 of 656 in OH (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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 1925 — 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?
• 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?
• 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.