809 Garfield Ave

Marietta, OH 45750

$52,500B

2 bd · 1.0 ba · 1,326 sqft · Built 1950 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,670/mo
• Mortgage (P&I): −$275
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$351
• Net cashflow: $941/mo
• Annual: $11,294/yr
• Cap rate: 27.80%
• Cash-on-cash: 76.83%
• DSCR: 4.42
• 1% rule: 3.18%
• Cash to close: $14,700

Investor read

• This is a 2-bed/1.0-bath single-family listed at $52k.
• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• 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 $363 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#127 in OH, #1,845 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment D-.
• Marietta City (town): math 35% / reading 49% proficiency, ranked #534 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 118 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 3 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $32k; list at $52k implies a 64% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 27.8% vs local median 6.3% in Marietta — 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.
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1950 — 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.