5825 County Road 80

Chesterville, OH 43019

$1F

3 bd · 1.0 ba · 2,447 sqft · Built 1901 · SingleFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,170/mo
• Mortgage (P&I): −$1,804
• Tax + insurance: −$573
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $-1,453/mo
• Annual: $-17,437/yr
• Cap rate: 1.22%
• Cash-on-cash: -18.10%
• DSCR: 0.19
• 1% rule: 0.34%
• Cash to close: $96,337

Investor read

• This is a 3-bed/1.0-bath single-family listed at $1.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 39 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#1,083 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Northmor Local (rural): math 54% / reading 60% proficiency, ranked #336 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 516090.3% of price; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 129 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).
• Morrow County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?