110 Lebanon Rd #129

Dalton, OH 44618

$45,000D

3 bd · 2.0 ba · 1,568 sqft · Built 1988 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,045/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$573
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-58/mo
• Annual: $-700/yr
• Cap rate: 4.74%
• Cash-on-cash: -5.55%
• DSCR: 0.75
• 1% rule: 2.32%
• Cash to close: $12,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $45k. Condition is rated fair.
• At list price, monthly cash flow is $-58 ($-700/yr) — negative.
• To cash-flow at today's rent, offer at most $37k (18.8% below list).
• Meets the 1% rule at list price ($1k rent vs $45k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $37k (18.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#203 in OH, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Dalton Local (town): math 71% / reading 78% proficiency, ranked #101 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Dalton Elementary School (math 77% / reading 77%, grade A, #221 of 1,584 statewide, top 16%, 341 students, 0% FRL); Dalton Middle School (math 73% / reading 76%, grade A, #88 of 654 statewide, top 14%, 285 students, 52% FRL); Dalton High School (math 44% / reading 82%, grade B-, #198 of 781 statewide, top 25%, 294 students, 16% FRL) — zoned schools at 23% FRL track the district average.
• Watch-outs: HOA is 55% of rent.
• Market conditions: 18 active listings in the ZIP; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago 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.

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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 A-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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: bathroom vanity — dated and in need of replacement
• Moderate: exterior paint — peeling and in need of repainting