682 Scioto St

Kenton, OH 43326

$82,000C+

2 bd · 1.0 ba · 816 sqft · Built 1954 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $860/mo
• Mortgage (P&I): −$430
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $134/mo
• Annual: $1,607/yr
• Cap rate: 8.25%
• Cash-on-cash: 7.00%
• DSCR: 1.31
• 1% rule: 1.05%
• Cash to close: $22,960

Investor read

• This is a 2-bed/1.0-bath single-family listed at $82k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $82k).
• It's been on market 37 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#339 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Kenton City (town): math 46% / reading 50% proficiency, ranked #479 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenton Elementary School (math 47% / reading 46%, grade D-, #973 of 1,584 statewide, top 62%, 1,028 students, 55% FRL); Kenton Middle School (math 47% / reading 53%, grade C, #416 of 654 statewide, top 64%, 267 students, 52% FRL); Kenton High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 541 students, 46% FRL) — zoned schools at 51% FRL track the district average.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 active listings in the ZIP; 18 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).
• Hardin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $17k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.3% vs local median 5.0% in Kenton — 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

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1954 — 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.