Oak St

Sandyville, OH 44643

$15,000C

2 bd · 2.0 ba · 980 sqft · Built 1997 · Other · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $944/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $642/mo
• Annual: $7,709/yr
• Cap rate: 57.69%
• Cash-on-cash: 183.56%
• DSCR: 9.17
• 1% rule: 6.30%
• Cash to close: $4,200

Investor read

• This is a 2-bed/2.0-bath other listed at $15k.
• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $15k).
• It's been on market 19 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($104 loan paydown + $2k appreciation (10.0% local appreciation)).
• Location reads 55/100 on livability (#1,137 in OH) — a working-class tenant base; expect higher turnover. Strengths: employment A+, cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Sandy Valley Local (rural): math 56% / reading 63% proficiency, ranked #296 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 30 active listings in the ZIP; 244 units permitted in Tuscarawas County in 2024 (0 in 5+ unit buildings).
• Tuscarawas County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• This rent is only 18% of the median local income ($63k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• 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.