677 Centerville Rd

Centerville (Thurman), OH 45685

$215,000C-

3 bd · 2.0 ba · 1,539 sqft · Built 2003 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,827/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $96/mo
• Annual: $1,148/yr
• Cap rate: 6.83%
• Cash-on-cash: 1.91%
• DSCR: 1.08
• 1% rule: 0.85%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (15.0% below list).
• It's been on market 25 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $183k (15.0% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $12k appreciation (5.8% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Gallia County Local (rural): math 37% / reading 49% proficiency, ranked #521 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwestern Elementary School (math 52% / reading 37%, grade F, #991 of 1,584 statewide, top 64%, 174 students, 0% FRL); River Valley Middle School (math 41% / reading 51%, grade D+, #464 of 654 statewide, top 71%, 366 students, 0% FRL); River Valley High School (math 12% / reading 47%, grade F, #619 of 781 statewide, top 80%, 378 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 4 active listings in the ZIP; 32 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.