40369 Low Gap Rd · Dexter City, OH 45727

$90,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily public records · 1 Days on market

Built 1995

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.9/10.0
• Schools +3.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

7 Acres. Fresh Updates. Endless Potential. Enjoy peaceful country living in the Caldwell School District on this beautiful 7-acre property. Inside, you & acirc; & euro; & trade; ll find new flooring throughout most of the home, giving it a clean, updated feel while still leaving room to make it your own. With plenty of space for kids, animals, gardening, or future plans, this property offers the freedom and privacy you & acirc; & euro; & trade; ve been looking for & acirc; & euro; & rdquo; all in a quiet, scenic setting.

Key facts

• 7 acres
• New flooring
• Quiet scenic setting

Tags

• 7 ACRES
• CALDWELL SCHOOL DISTRICT
• NEW FLOORING
• QUIET SCENIC SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 52/100 on livability (#1,168 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, schools F, amenities F.
• Caldwell Exempted Village (town): math 36% / reading 49% proficiency, ranked #529 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; lower-income renter base — watch delinquency; 19 units permitted in Noble County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($622 loan paydown + $2k appreciation (1.8% local appreciation)).
• Noble County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $15k; list at $90k implies a 500% gain — meaningful room to come down on a strong offer.

Recommended offer $90,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.25%
• DSCR: 1.68
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.02×
• Total profit: $25,824
• Equity at exit: $34,741

10-year hold

• IRR: 21.4%
• Equity multiple: 3.79×
• Total profit: $70,325
• Equity at exit: $49,451

Cash invested: $25,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45727

• Home prices YoY: 1.4%
• Active inventory: 6
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$25 /mo · $306/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $320

Break-even live

Break-even rent $677

Max offer price $90,000

Occupancy floor 65%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-26
   listed $90,000 Active
2. 2013-11-01
   soldstatus $15,000
3. 2011-09-12
   soldstatus $10,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $306 · $25/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$549/yr (+$46/mo · 179.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,992
• − Mortgage interest: −$5,041
• − Property taxes: −$306
• − Insurance: −$450
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$2,618
• Taxable income: $2,498
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,245/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Caldwell Exempted Village
• NCES district ID: 3904525
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $37,221
• Composite: 35.3/100
• National rank: #4967
• State rank: #529 of 656 in OH

Livability — Dexter City

• Score: 52/100
• State rank: #1168
• US rank: #25054

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D- Housing F Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Noble · 16,074 people
• Population (ZIP): 909
• Household income: $33,542
• Rent vs Own: 6.6% rent · 93.4% own
• Severe rent burden: 5.9

Population outlook (Noble County) Hauer SSP2

• Today (2025): 13,837 people
• By 2030: 13,584 · -1.8%
• By 2040: 12,674 · -8.4%
• By 2050: 11,551 · -16.5%
• By 2075: 8,951 · -35.3%
• By 2100: 6,807 · -50.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Romanian 38% Slovak 3% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Noble

• 2024 margin: Solid R (+64.6) · D 17.4% · R 82.0%
• 2008→2024 swing: -48.8pp toward R · 2008: -15.8pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+62.5 2016: R+55.1 2012: R+24.6 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.84%
• Current HPI: 135.7388
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+800.0% since first listed

3 events — show timeline

• 2026-05-26 Listed $90,000 FSBO.com
• 2013-11-01 Sold (Public Records) $15,000 Public Records
• 2011-09-12 Sold (Public Records) $10,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $306 · -0.4% YoY. Source: county tax records.