11081 County Road U

Napoleon, OH 43545

$79,900C+

3 bd · 2.0 ba · 1,206 sqft · Built 1900 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,207/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $402/mo
• Annual: $4,820/yr
• Cap rate: 12.33%
• Cash-on-cash: 21.54%
• DSCR: 1.96
• 1% rule: 1.51%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated poor.
• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#484 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Liberty Center Local (rural): math 77% / reading 73% proficiency, ranked #93 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Liberty Center Middle School (math 76% / reading 73%, grade A, #88 of 654 statewide, top 14%, 320 students, 0% FRL); Liberty Center High School (math 67% / reading 72%, grade B, #106 of 781 statewide, top 16%, 303 students, 68% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 active listings in the ZIP; solid renter incomes; 18 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.3% vs local median 3.8% in Napoleon — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Large barn roof — Visible wear and tear on the roof from aerial view.
• Major: Detached garage — Significant wear and tear visible on the exterior of the garage from aerial view.
• Major: Landscaping — Sparse and unkempt landscaping visible from aerial view.
• Major: HVAC/mechanicals — No interior photos available to assess HVAC/mechanicals condition, but likely in need of repair based on exterior condition.
• Major: Interior walls and paint — No interior photos available to assess interior walls and paint condition, but likely in need of repair based on exterior condition.