1877 State Route 775

Proctorville, OH 45669

$41,472B+

2 bd · 1.0 ba · 648 sqft · Built 1970 · SingleFamily · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $813/mo
• Mortgage (P&I): −$217
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $305/mo
• Annual: $3,664/yr
• Cap rate: 17.05%
• Cash-on-cash: 38.42%
• DSCR: 2.71
• 1% rule: 1.96%
• Cash to close: $11,612

Investor read

• This is a 2-bed/1.0-bath single-family listed at $41k.
• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($813 rent vs $41k).
• It's been on market 154 days — a 12% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.8%/yr); year-one equity from $287 of loan paydown is wiped out by about $730 of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#147 in OH, #2,275 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D+, amenities F, employment D-.
• Fairland Local (suburban): math 63% / reading 73% proficiency, ranked #177 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 72 active listings in the ZIP; 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y 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.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent is only 15% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.