2510 Swart Rd

New Marshfield, OH 45710

$46,305C

2 bd · 1.0 ba · 720 sqft · Built 1980 · SingleFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$243
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $702/mo
• Annual: $8,425/yr
• Cap rate: 24.49%
• Cash-on-cash: 64.98%
• DSCR: 3.89
• 1% rule: 2.79%
• Cash to close: $12,965

Investor read

• This is a 2-bed/1.0-bath single-family listed at $46k. Condition is rated poor.
• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• It's been on market 43 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $320 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 41/100 on livability (#1,195 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Alexander Local (rural): math 44% / reading 57% proficiency, ranked #440 of 656 in OH (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; solid renter incomes; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — No visible roof in the satellite image.
• Major: exterior — No visible exterior in the satellite image.
• Major: flooring — No visible interior in the satellite image.
• Major: interior walls/paint — No visible interior in the satellite image.
• Major: systems — No visible interior in the satellite image.