211 N Garfield St

Bloomdale, OH 44817

$69,900B+

4 bd · 1.0 ba · 1,807 sqft · Built 1900 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $498/mo
• Annual: $5,980/yr
• Cap rate: 14.85%
• Cash-on-cash: 30.55%
• DSCR: 2.36
• 1% rule: 1.85%
• Cash to close: $19,572

Investor read

• This is a 4-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 37 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($483 loan paydown + $758 appreciation (1.1% local appreciation)).
• Location reads 66/100 on livability (#649 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Elmwood Local (rural): math 67% / reading 71% proficiency, ranked #154 of 656 in OH (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elmwood Elementary School (math 72% / reading 72%, grade A-, #323 of 1,584 statewide, top 23%, 498 students, 0% FRL); Elmwood Middle School (math 70% / reading 73%, grade A, #122 of 654 statewide, top 19%, 375 students, 0% FRL); Elmwood High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 329 students, 95% FRL) — zoned schools at 32% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 493 units permitted in Wood County in 2024 (48 in 5+ unit buildings).
• Wood County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $54k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• 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.