21 Butler Dr

South Zanesville, OH 43701

$50,000B

3 bd · 1.0 ba · 924 sqft · Built 1992 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $543/mo
• Annual: $6,519/yr
• Cap rate: 20.93%
• Cash-on-cash: 52.26%
• DSCR: 3.33
• 1% rule: 2.42%
• Cash to close: $14,000

Investor read

• This is a 3-bed/1.0-bath other listed at $50k. Condition is rated average.
• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#242 in OH, #3,856 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute F, employment F.
• Maysville Local (town): math 46% / reading 56% proficiency, ranked #435 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maysville Elementary School (math 61% / reading 64%, grade B, #580 of 1,584 statewide, top 37%, 807 students, 0% FRL); Maysville Middle School (math 35% / reading 46%, grade F, #509 of 654 statewide, top 78%, 479 students, 0% FRL); Maysville High School (math 32% / reading 62%, grade D-, #435 of 781 statewide, top 59%, 444 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+4.2%/yr); 300 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.