430 W Adario West Rd

Shiloh, OH 44878

$189,900C+

3 bd · 2.0 ba · 1,512 sqft · Built 1993 · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,995/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$419
• Net cashflow: $423/mo
• Annual: $5,072/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• 1% rule: 1.05%
• Cash to close: $53,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• It's been on market 30 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.7% local appreciation)).
• Location reads 66/100 on livability (#639 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Plymouth-Shiloh Local (rural): math 52% / reading 55% proficiency, ranked #391 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shiloh Elementary School (math 67% / reading 52%, grade B-, #670 of 1,584 statewide, top 45%, 282 students, 52% FRL); Shiloh Middle School (math 49% / reading 55%, grade C+, #386 of 654 statewide, top 61%, 197 students, 0% FRL); Plymouth High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 164 students, 98% FRL).
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.0% vs local median 4.7% in Shiloh — 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.
• This rent runs 30% of the median local income ($80k/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.
• 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.