30 Spring St

Roseville, OH 43777

$89,900C-

2 bd · 1.0 ba · 840 sqft · Built 1901 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $858/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $57/mo
• Annual: $681/yr
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $57 ($681/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (4.5% below list).
• It's been on market 24 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (4.5% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.1% local appreciation)).
• Location reads 63/100 on livability (#816 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools D, employment D.
• Franklin Local (rural): math 49% / reading 54% proficiency, ranked #428 of 656 in OH (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 140 units permitted in Muskingum County in 2024 (100 in 5+ unit buildings).
• Muskingum County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1901 — 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 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?
• 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.