116 Main St St

Dexter City, OH 45727

$80,000B

4 bd · 2.0 ba · 3,290 sqft · Built 2025 · SingleFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,388/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$94
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $583/mo
• Annual: $6,995/yr
• Cap rate: 15.04%
• Cash-on-cash: 31.23%
• DSCR: 2.39
• 1% rule: 1.73%
• Cash to close: $22,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 101 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($553 loan paydown + $1k appreciation (1.8% local appreciation)).
• Location reads 52/100 on livability (#1,168 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, amenities F, commute F.
• Caldwell Exempted Village (town): math 36% / reading 49% proficiency, ranked #529 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caldwell Elementary School (math 40% / reading 48%, grade F, #1,017 of 1,584 statewide, top 64%, 494 students, 52% FRL); Caldwell High School (math 12% / reading 54%, grade F, #601 of 781 statewide, top 77%, 209 students, 39% FRL).
• Market conditions: 6 active listings in the ZIP; lower-income renter base — watch delinquency; 19 units permitted in Noble County in 2024 (0 in 5+ unit buildings).
• Noble County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $70k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $80k implies a 186% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• At $1,388/mo this rent would consume 50% of the median local household income ($34k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.