1243 State Route 167

Jefferson, OH 44047

$140,000D+

4 bd · 1.0 ba · 1,976 sqft · Built 1900 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,362/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$286
• Net cashflow: $77/mo
• Annual: $928/yr
• Cap rate: 6.96%
• Cash-on-cash: 2.37%
• DSCR: 1.11
• 1% rule: 0.97%
• Cash to close: $39,200

Investor read

• This is a 4-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $77 ($928/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 $136k (2.7% below list).
• It's been on market 17 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (2.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#506 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D, amenities F, commute F.
• Jefferson Area Local (rural): math 46% / reading 62% proficiency, ranked #382 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary (math 48% / reading 57%, grade C-, #846 of 1,584 statewide, top 54%, 637 students, 38% FRL); Jefferson Area Junior High School (math 41% / reading 66%, grade C+, #362 of 654 statewide, top 57%, 266 students, 39% FRL); Jefferson Area Sr High School (math 42% / reading 72%, grade C, #275 of 781 statewide, top 37%, 442 students, 31% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $140k implies a 185% gain — meaningful room to come down on a strong offer.

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 B-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?
• 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.
• 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.