33 Bending Oak Dr

Granville South, OH 43023

$1F

4 bd · 2.5 ba · 2,256 sqft · Built 1990 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,439/mo
• Mortgage (P&I): −$1,810
• Tax + insurance: −$575
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $-1,248/mo
• Annual: $-14,981/yr
• Cap rate: 1.95%
• Cash-on-cash: -15.50%
• DSCR: 0.31
• 1% rule: 0.42%
• Cash to close: $96,647

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 18 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#478 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Granville Exempted Village (suburban): math 85% / reading 85% proficiency, ranked #12 of 656 in OH (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 517752.0% of price.
• Market conditions: 59 active listings in the ZIP; high-income renter base; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).
• This rent is only 13% of the median local income ($136k/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?
• 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.
• 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.
• 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.