7947 E St Rt 41

Troy, OH 45373

$245,000C-

4 bd · 1.0 ba · 1,684 sqft · Built 1920 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,875/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $35/mo
• Annual: $422/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• 1% rule: 0.77%
• Cash to close: $68,600

Investor read

• This is a 4-bed/1.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $35 ($422/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (23.5% below list).
• It's been on market 26 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (23.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#345 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Miami East Local (rural): math 75% / reading 79% proficiency, ranked #70 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Miami East Elementary (math 79% / reading 76%, grade A, #213 of 1,584 statewide, top 14%, 630 students, 0% FRL); Miami East Junior High School (math 78% / reading 78%, grade A+, #61 of 654 statewide, top 10%, 305 students, 45% FRL); Miami East High School (math 57% / reading 87%, grade B+, #89 of 781 statewide, top 12%, 478 students, 9% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.1%/yr); 287 active listings in the ZIP; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• Current owner paid $115k; list at $245k implies a 113% gain — meaningful room to come down on a strong offer.
• Cap rate 6.5% vs local median 2.7% in Troy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1920 — 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 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?
• 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.