310 Oakland Ave

Findlay, OH 45840

$149,900C+

3 bd · 1.0 ba · 1,080 sqft · Built 2000 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,667/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$350
• Net cashflow: $277/mo
• Annual: $3,324/yr
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• 1% rule: 1.11%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#98 in OH, #1,496 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Findlay City (town): math 56% / reading 56% proficiency, ranked #357 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Primary School (393 students, 34% FRL); Donnell Middle School (math 57% / reading 54%, grade B-, #321 of 654 statewide, top 51%, 523 students, 41% FRL); Findlay High School (math 51% / reading 60%, grade C, #296 of 781 statewide, top 39%, 1,915 students, 31% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 11y 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.
• Current owner paid $106k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 8.5% vs local median 5.0% in Findlay — 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

• 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.