11 Sherman St

Dennison, OH 44621

$146,000F

3 bd · 1.5 ba · 1,112 sqft · Built 1910 · SingleFamily · Active · 186 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $778/mo
• Mortgage (P&I): −$766
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $-275/mo
• Annual: $-3,303/yr
• Cap rate: 4.03%
• Cash-on-cash: -8.08%
• DSCR: 0.64
• 1% rule: 0.53%
• Cash to close: $40,880

Investor read

• This is a 3-bed/1.5-bath single-family listed at $146k.
• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (33.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (46.7% below list).
• It's been on market 186 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (46.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#726 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Claymont City (town): math 47% / reading 51% proficiency, ranked #467 of 656 in OH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Claymont Elementary School (math 77% / reading 52%, grade B, #522 of 1,584 statewide, top 36%, 268 students, 0% FRL); Claymont Middle School (math 38% / reading 54%, grade D+, #464 of 654 statewide, top 71%, 392 students, 0% FRL); Claymont High School (math 32% / reading 52%, grade F, #497 of 781 statewide, top 66%, 392 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 244 units permitted in Tuscarawas County in 2024 (0 in 5+ unit buildings).
• Tuscarawas County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• This rent is only 17% of the median local income ($55k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 186 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.