312 E Washington St

New Madison, OH 45346

$95,000B

3 bd · 1.0 ba · 968 sqft · Built 1900 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,008/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $207/mo
• Annual: $2,479/yr
• Cap rate: 8.90%
• Cash-on-cash: 9.32%
• DSCR: 1.41
• 1% rule: 1.06%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($657 loan paydown + $2k appreciation (2.0% local appreciation)).
• Location reads 71/100 on livability (#414 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Village Local (rural): math 66% / reading 74% proficiency, ranked #149 of 656 in OH (top 23%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; solid renter incomes; 43 units permitted in Darke County in 2024 (0 in 5+ unit buildings).
• Darke County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• This rent is only 15% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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.
• Schools are A-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.
• 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.