8020 E State Route 55

Christiansburg, OH 45312

$69,900B+

3 bd · 1.0 ba · 1,024 sqft · Built 1958 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$231
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $353/mo
• Annual: $4,239/yr
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• 1% rule: 1.72%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($483 loan paydown + $2k appreciation (2.2% local appreciation)).
• Location reads 58/100 on livability (#1,044 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, amenities F.
• Miami East Local (rural): math 75% / reading 79% proficiency, ranked #70 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Miami East Elementary (math 79% / reading 76%, grade A, #213 of 1,584 statewide, top 14%, 630 students, 0% FRL); Miami East Junior High School (math 78% / reading 78%, grade A+, #61 of 654 statewide, top 10%, 305 students, 45% FRL); Miami East High School (math 57% / reading 87%, grade B+, #89 of 781 statewide, top 12%, 478 students, 9% FRL).
• Watch-outs: property tax is 3.5% of price; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• At projected returns (2.2% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent is only 16% of the median local income ($90k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1958 — 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?
• 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.