324 Fairview Lot 53

West Lafayette, OH 43845

$95,000B+

3 bd · 2.0 ba · 1,040 sqft · Built 1992 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $348/mo
• Annual: $4,172/yr
• Cap rate: 10.68%
• Cash-on-cash: 15.68%
• DSCR: 1.70
• 1% rule: 1.34%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 19 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#467 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Ridgewood Local (town): math 51% / reading 60% proficiency, ranked #370 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ridgewood Elementary School (math 57% / reading 52%, grade C, #788 of 1,584 statewide, top 52%, 447 students, 0% FRL); Ridgewood Middle School (math 49% / reading 59%, grade B-, #352 of 654 statewide, top 55%, 374 students, 58% FRL); Ridgewood High School (math 51% / reading 63%, grade C, #275 of 781 statewide, top 37%, 454 students, 55% FRL).
• Market conditions: 14 active listings in the ZIP; 7 units permitted in Coshocton County in 2024 (0 in 5+ unit buildings).
• Coshocton County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 22y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• 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.