147 Newell Ave

St. Clairsville, OH 43950

$134,900C

4 bd · 4.0 ba · 4,498 sqft · Built 1910 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,512/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $287/mo
• Annual: $3,447/yr
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• 1% rule: 1.12%
• Cash to close: $37,772

Investor read

• This is a 4-bed/4.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 35 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St Clairsville-Richland City (suburban): math 57% / reading 71% proficiency, ranked #220 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: St Clairsville Elementary School (math 70% / reading 71%, grade A-, #376 of 1,584 statewide, top 24%, 600 students, 28% FRL); St Clairsville Middle School (math 52% / reading 70%, grade B+, #252 of 654 statewide, top 39%, 510 students, 44% FRL); St Clairsville High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 482 students, 0% FRL) — zoned schools average 24% FRL vs 40% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 60 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $40k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.8% vs local median 3.1% in St. Clairsville — 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.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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.
• 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.