132 N Sugar St

St. Clairsville, OH 43950

$195,000D

4 bd · 3.0 ba · 1,536 sqft · Built 1948 · MultiFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$325
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $-5/mo
• Annual: $-55/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $54,600

Investor read

• This is a 4-bed/3.0-bath multifamily listed at $195k. Condition is rated fair.
• At list price, monthly cash flow is $-5 ($-55/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (12.8% below list).
• It's been on market 31 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (12.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St Clairsville-Richland City (suburban): math 57% / reading 71% proficiency, ranked #220 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: St Clairsville Elementary School (math 70% / reading 71%, grade A-, #376 of 1,584 statewide, top 24%, 600 students, 28% FRL); St Clairsville Middle School (math 52% / reading 70%, grade B+, #252 of 654 statewide, top 39%, 510 students, 44% FRL); St Clairsville High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 482 students, 0% FRL) — zoned schools average 24% FRL vs 40% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 61 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.1% in St. Clairsville — 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

• 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 31 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1948 — 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.
• 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)

• Major: roof — Signs of wear and discoloration suggest significant damage.
• Moderate: exterior siding — Some wear and discoloration is visible, indicating a need for repair or repainting.
• Minor: HVAC system — No specific issues are visible, but maintenance may be needed to ensure efficiency.