205 Hane Dr

Pioneer, OH 43554

$127,500D-

1 bd · 1.0 ba · 1,200 sqft · Built 1969 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $979/mo
• Mortgage (P&I): −$669
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $-65/mo
• Annual: $-784/yr
• Cap rate: 5.68%
• Cash-on-cash: -2.20%
• DSCR: 0.90
• 1% rule: 0.77%
• Cash to close: $35,700

Investor read

• This is a 1-bed/1.0-bath single-family listed at $128k.
• At list price, monthly cash flow is $-65 ($-784/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (23.2% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $98k (23.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#578 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• North Central Local (rural): math 50% / reading 66% proficiency, ranked #329 of 656 in OH (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Central Elementary School (math 62% / reading 72%, grade B+, #456 of 1,584 statewide, top 31%, 303 students, 0% FRL); North Central Junior/High School (math 37% / reading 57%, grade D-, #435 of 781 statewide, top 59%, 248 students, 61% FRL) — zoned schools average 30% FRL vs 57% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 13 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).
• Williams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $65k; list at $128k implies a 96% gain — meaningful room to come down on a strong offer.

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 1969 — 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.
• 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.