329 S Market St

Amsterdam, OH 43903

$109,000B

3 bd · 1.0 ba · 1,568 sqft · Built 1900 · SingleFamily · Active · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $214/mo
• Annual: $2,565/yr
• Cap rate: 8.65%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• 1% rule: 1.12%
• Cash to close: $30,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $109k. Condition is rated poor.
• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• It's been on market 152 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($754 loan paydown + $9k appreciation (8.5% local appreciation)).
• Location reads 55/100 on livability (#1,126 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Edison Local (rural): math 52% / reading 66% proficiency, ranked #312 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: John E Gregg Elementary School (math 67% / reading 67%, grade B+, #456 of 1,584 statewide, top 31%, 380 students, 52% FRL); Edison Jr. High School (math 49% / reading 64%, grade B, #313 of 654 statewide, top 48%, 204 students, 0% FRL); Edison High School (math 32% / reading 72%, grade D+, #343 of 781 statewide, top 47%, 418 students, 74% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 2 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image shows visible damage and missing shingles.
• Major: exterior siding — The satellite image shows peeling paint and siding damage.
• Major: concrete driveway — The satellite image shows a concrete driveway with visible cracks.
• Major: concrete foundation — The satellite image shows a concrete foundation with visible cracks.
• Major: interior walls — The listing photo shows exposed brick walls and a worn wooden floor.