1127 Anderson Blvd

East Liverpool, OH 43920

$110,000B-

6 bd · 2.0 ba · 1,120 sqft · Built 1900 · MultiFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,281/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$479
• Net cashflow: $1,102/mo
• Annual: $13,228/yr
• Cap rate: 18.32%
• Cash-on-cash: 42.95%
• DSCR: 2.91
• 1% rule: 2.07%
• Cash to close: $30,800

Investor read

• This is a 6-bed/2.0-bath multifamily listed at $110k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 53 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#613 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.
• East Liverpool City (town): math 28% / reading 37% proficiency, ranked #571 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Elementary School (math 42% / reading 37%, grade F, #1,055 of 1,584 statewide, top 68%, 407 students, 0% FRL); East Liverpool Junior High (math 28% / reading 32%, grade F, #571 of 654 statewide, top 87%, 290 students, 0% FRL); East Liverpool High School (math 22% / reading 42%, grade F, #607 of 781 statewide, top 78%, 536 students, 0% FRL) — zoned schools average 0% FRL vs 78% district-wide (78 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 115 active listings in the ZIP; 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• Columbiana County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $25k; list at $110k implies a 340% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.3% vs local median 9.4% in East Liverpool — 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.
• At $2,281/mo this rent would consume 54% of the median local household income ($51k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.