10036 Township Road 94

Findlay, OH 45840

$250,000D+

3 bd · 2.0 ba · 1,528 sqft · Built 1972 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,856/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$310
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $-155/mo
• Annual: $-1,858/yr
• Cap rate: 5.55%
• Cash-on-cash: -2.65%
• DSCR: 0.88
• 1% rule: 0.74%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (25.8% below list).
• It's been on market 44 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (25.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#98 in OH, #1,496 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Liberty-Benton Local (rural): math 75% / reading 78% proficiency, ranked #75 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Liberty-Benton Elementary School (math 75% / reading 75%, grade A, #266 of 1,584 statewide, top 17%, 597 students, 23% FRL); Liberty-Benton Middle School (math 76% / reading 80%, grade A+, #61 of 654 statewide, top 10%, 427 students, 17% FRL); Liberty-Benton High School (math 72% / reading 82%, grade A-, #56 of 781 statewide, top 8%, 520 students, 14% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $250k implies a 400% gain — meaningful room to come down on a strong offer.
• This rent runs 33% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.