14831 Calaboone Rd

Doylestown, OH 44230

$45,000B

3 bd · 1.0 ba · 1,074 sqft · Built 1900 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,075/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $465/mo
• Annual: $5,581/yr
• Cap rate: 18.69%
• Cash-on-cash: 44.29%
• DSCR: 2.97
• 1% rule: 2.39%
• Cash to close: $12,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• 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 $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#156 in OH, #2,375 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Chippewa Local (suburban): math 71% / reading 76% proficiency, ranked #116 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 30 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 32y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent is only 17% of the median local income ($74k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.