3128 Rockwood Dr SW

Carrollton, OH 44615

$250,000C-

3 bd · 1.0 ba · 1,344 sqft · Built 1957 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,089/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$439
• Net cashflow: $116/mo
• Annual: $1,387/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• 1% rule: 0.84%
• Cash to close: $70,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $116 ($1k/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 $209k (16.4% below list).
• It's been on market 26 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $209k (16.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#131 in OH, #1,863 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Conotton Valley Union Local (rural): math 37% / reading 42% proficiency, ranked #541 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Conotton Valley Elementary (math 42% / reading 52%, grade D-, #942 of 1,584 statewide, top 61%, 288 students, 40% FRL); Conotton Valley High School (math 37% / reading 37%, grade F, #564 of 781 statewide, top 74%, 225 students, 41% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 2 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 6.8% vs local median 4.7% in Carrollton — 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.
• This rent runs 38% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1957 — 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.