8752 N Rokeby Rd NW

McConnelsville, OH 43756

$186,900D

2 bd · 1.0 ba · 1,612 sqft · Built 1952 · SingleFamily · Pending · 335 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,053/mo
• Mortgage (P&I): −$980
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $-303/mo
• Annual: $-3,634/yr
• Cap rate: 4.35%
• Cash-on-cash: -6.94%
• DSCR: 0.69
• 1% rule: 0.56%
• Cash to close: $52,332

Investor read

• This is a 2-bed/1.0-bath single-family listed at $187k.
• At list price, monthly cash flow is $-303 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (28.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (43.7% below list).
• It's been on market 335 days — a 12% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (43.7% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.4% local appreciation)).
• Location reads 66/100 on livability (#648 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, amenities F, commute F.
• Morgan Local (rural): math 46% / reading 60% proficiency, ranked #420 of 656 in OH (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Elementary School (math 57% / reading 67%, grade B, #590 of 1,584 statewide, top 41%, 310 students, 0% FRL); Morgan Junior High School (math 37% / reading 61%, grade C-, #426 of 654 statewide, top 66%, 257 students, 58% FRL); Morgan High School (math 32% / reading 52%, grade F, #497 of 781 statewide, top 66%, 519 students, 30% FRL) — zoned schools average 29% FRL vs 50% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 34 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• Morgan County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts; this cycle's ask has dropped $13k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $187k implies a 416% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$32k 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?
• It's been on market 335 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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 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.