115 W Jackson St

Fostoria, OH 44830

$1F

3 bd · 1.0 ba · 1,728 sqft · Built 1900 · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $757/mo
• Mortgage (P&I): −$835
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$159
• Net cashflow: $-503/mo
• Annual: $-6,032/yr
• Cap rate: 2.51%
• Cash-on-cash: -13.53%
• DSCR: 0.40
• 1% rule: 0.48%
• Cash to close: $44,598

Investor read

• This is a 3-bed/1.0-bath single-family listed at $1.
• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($757 rent vs $1).
• It's been on market 30 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#216 in OH, #3,330 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, commute F, employment D-.
• Fostoria City (town): math 30% / reading 39% proficiency, ranked #566 of 656 in OH (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 238917.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in Seneca County in 2024 (0 in 5+ unit buildings).
• Seneca County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 2.5% vs local median 4.4% in Fostoria — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent is only 15% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.