653 Osborne St

Pomeroy, OH 45769

$35,000B+

2 bd · 1.0 ba · 736 sqft · Built 1900 · SingleFamily · Active · 430 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $828/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $423/mo
• Annual: $5,070/yr
• Cap rate: 20.78%
• Cash-on-cash: 51.74%
• DSCR: 3.30
• 1% rule: 2.37%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($828 rent vs $35k).
• It's been on market 430 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (5.7% local appreciation)).
• Location reads 66/100 on livability (#652 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• Meigs Local (rural): math 20% / reading 35% proficiency, ranked #594 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 3 units permitted in Meigs County in 2024 (0 in 5+ unit buildings).
• Meigs County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 430 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.