6025 Winchester Rd NW

Carroll, OH 43112

$60,000F

3 bd · 1.0 ba · 1,192 sqft · Built 1961 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,156/mo
• Mortgage (P&I): −$1,477
• Tax + insurance: −$536
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $-1,099/mo
• Annual: $-13,191/yr
• Cap rate: 1.89%
• Cash-on-cash: -15.72%
• DSCR: 0.30
• 1% rule: 0.41%
• Cash to close: $78,856

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 29 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#733 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment C-, amenities F, commute F.
• Bloom-Carroll Local (rural): math 58% / reading 71% proficiency, ranked #179 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 7.0% of price; flood insurance adds $66/mo.
• Market conditions: 21 active listings in the ZIP; solid renter incomes; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• Fairfield County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• This rent is only 14% of the median local income ($98k/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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — The siding is visibly damaged and peeling, indicating a major repair is needed.
• Major: roof — The roof shows significant damage, requiring a major repair or replacement.
• Major: interior walls and paint — The interior walls and paint are in poor condition, indicating a major repair or replacement is needed.
• Major: HVAC and mechanical systems — The overall condition suggests these systems may need significant repair or replacement.