52 West St

Bloomingburg, OH 43106

$10,000F

3 bd · 1.0 ba · 1,726 sqft · Built 1900 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,220/mo
• Mortgage (P&I): −$1,367
• Tax + insurance: −$434
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $-837/mo
• Annual: $-10,047/yr
• Cap rate: 2.44%
• Cash-on-cash: -13.77%
• DSCR: 0.39
• 1% rule: 0.47%
• Cash to close: $72,975

Investor read

• This is a 3-bed/1.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $-837 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 19 days — a 2% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $10k (1.5% below list) — sets the bar for market timing.
• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#1,032 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, schools F.
• Miami Trace Local (rural): math 61% / reading 67% proficiency, ranked #235 of 656 in OH (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 39.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 71 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1900 — 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?
• 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.