104 Diehl St

Bettsville, OH 44815

$40,000B+

3 bd · 1.0 ba · 1,062 sqft · Built 1898 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $980/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $423/mo
• Annual: $5,079/yr
• Cap rate: 20.98%
• Cash-on-cash: 52.47%
• DSCR: 3.33
• 1% rule: 2.45%
• Cash to close: $11,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $40k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($277 loan paydown + $2k appreciation (4.8% local appreciation)).
• Location reads 70/100 on livability (#458 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Old Fort Local (rural): math 72% / reading 64% proficiency, ranked #167 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Old Fort Elementary School Bettsville Campus (math 77% / reading 67%, grade A-, #323 of 1,584 statewide, top 23%, 393 students, 28% FRL); Old Fort High School (math 67% / reading 62%, grade B-, #164 of 781 statewide, top 24%, 352 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 45 units permitted in Seneca County in 2024 (0 in 5+ unit buildings).
• Seneca County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $18k; list at $40k implies a 122% gain — meaningful room to come down on a strong offer.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.