1705 Coal St

Chesterhill, OH 45728

$73,500B+

2 bd · 1.0 ba · 1,470 sqft · Built 1900 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,290/mo
• Mortgage (P&I): −$385
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $553/mo
• Annual: $6,639/yr
• Cap rate: 15.33%
• Cash-on-cash: 32.26%
• DSCR: 2.44
• 1% rule: 1.76%
• Cash to close: $20,580

Investor read

• This is a 2-bed/1.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 78 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($508 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#933 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• Morgan Local (rural): math 46% / reading 60% proficiency, ranked #420 of 656 in OH (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 34 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• Morgan County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.