2144 Arthur Ave

Vandalia, OH 45414

$75,000A-

2 bd · 1.0 ba · 920 sqft · Built 1955 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,289/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $474/mo
• Annual: $5,682/yr
• Cap rate: 13.87%
• Cash-on-cash: 27.06%
• DSCR: 2.20
• 1% rule: 1.72%
• Cash to close: $21,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#463 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities F, commute F, health & safety F.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.4%/yr); 51 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y 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 $34k; list at $75k implies a 123% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 13.9% vs local median 2.9% in Vandalia — 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.

Questions for listing agent

• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.