107 College Ave

Sardinia, OH 45171

$188,000C

3 bd · 2.0 ba · 1,576 sqft · Built 1935 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,055/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$313
• HOA: −$0
• Vac / Maint / Mgmt: −$432
• Net cashflow: $324/mo
• Annual: $3,891/yr
• Cap rate: 8.36%
• Cash-on-cash: 7.39%
• DSCR: 1.33
• 1% rule: 1.09%
• Cash to close: $52,640

Investor read

• This is a 3-bed/2.0-bath single-family listed at $188k.
• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#643 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Eastern Local (rural): math 51% / reading 61% proficiency, ranked #350 of 656 in OH (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 86 active listings in the ZIP; 147 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• Brown County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 16y 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 $115k; list at $188k implies a 63% gain — meaningful room to come down on a strong offer.
• This rent runs 39% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1935 — 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.
• 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.