715 N Zane Hwy

Martins Ferry, OH 43935

$81,000B-

3 bd · 2.0 ba · 1,904 sqft · Built 1900 · MultiFamily · Contingent · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,750/mo
• Mortgage (P&I): −$425
• Tax + insurance: −$193
• HOA: −$0
• Vac / Maint / Mgmt: −$368
• Net cashflow: $765/mo
• Annual: $9,179/yr
• Cap rate: 18.61%
• Cash-on-cash: 43.99%
• DSCR: 2.96
• 1% rule: 2.16%
• Cash to close: $22,680

Investor read

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $81k.
• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $382/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $81k).
• It's been on market 46 days — a 3% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $560 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#423 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Martins Ferry City (suburban): math 42% / reading 54% proficiency, ranked #483 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.6% vs local median 8.3% in Martins Ferry — 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 42% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1900 — 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 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.