213 Smithfield St

Dillonvale, OH 43917

$79,000B+

3 bd · 1.0 ba · 1,377 sqft · Built 1900 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,169/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $400/mo
• Annual: $4,804/yr
• Cap rate: 12.37%
• Cash-on-cash: 21.72%
• DSCR: 1.97
• 1% rule: 1.48%
• Cash to close: $22,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 27 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• In year one you build about $42 of equity ($546 loan paydown + $-504 appreciation (-0.6% local appreciation)).
• Location reads 82/100 on livability (#71 in OH, #1,093 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities D.
• Buckeye Local (rural): math 44% / reading 53% proficiency, ranked #471 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Buckeye West Elementary School (math 62% / reading 52%, grade C+, #729 of 1,584 statewide, top 48%, 217 students, 62% FRL); Buckeye Local Junior High (math 33% / reading 51%, grade D-, #499 of 654 statewide, top 77%, 209 students, 56% FRL); Buckeye Local High School (388 students, 54% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 2 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 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.
• Current owner paid $65k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• 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 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.