105 W College Ave

Woodville, OH 43469

$119,900C-

4 bd · 1.0 ba · 1,123 sqft · Built 1917 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,101/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$634
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-393/mo
• Annual: $-4,718/yr
• Cap rate: 6.97%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• 1% rule: 0.92%
• Cash to close: $33,572

Investor read

• This is a 4-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-393 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $50k (57.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (8.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $50k (57.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#357 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Woodmore Local (rural): math 59% / reading 66% proficiency, ranked #238 of 656 in OH (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Woodmore Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 391 students, 36% FRL); Woodmore Middle School (math 52% / reading 63%, grade B, #302 of 654 statewide, top 46%, 285 students, 0% FRL); Woodmore High School (math 52% / reading 77%, grade B-, #164 of 781 statewide, top 24%, 259 students, 11% FRL).
• Watch-outs: flood insurance adds $460/mo; built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; solid renter incomes; 23 units permitted in Sandusky County in 2024 (0 in 5+ unit buildings).
• Sandusky County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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 $32k; list at $120k implies a 277% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 15% of the median local income ($87k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1917 — 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 A-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.