5965 Harrisburg Georgesville Rd #102

Darbydale, OH 43123

$120,000D+

3 bd · 2.0 ba · 1,056 sqft · Built 2019 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,811/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$266
• HOA: −$635
• Vac / Maint / Mgmt: −$380
• Net cashflow: $-100/mo
• Annual: $-1,200/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• 1% rule: 1.51%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k. Condition is rated good.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (12.1% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $106k (12.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#871 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Darbydale Elementary School (math 52% / reading 42%, grade D-, #942 of 1,584 statewide, top 61%, 385 students, 48% FRL); Pleasant View Middle School (math 43% / reading 43%, grade D-, #489 of 654 statewide, top 75%, 761 students, 71% FRL); Central Crossing High School (math 23% / reading 57%, grade F, #522 of 781 statewide, top 67%, 1,638 students, 48% FRL) — zoned schools at 55% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; HOA is 35% of rent.
• Market conditions: Rents rising (+3.7%/yr); 329 active listings in the ZIP; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.