509 Winbigler St

Ansonia, OH 45303

$159,900F

3 bd · 1.0 ba · 1,025 sqft · Built 1973 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,024/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $-208/mo
• Annual: $-2,490/yr
• Cap rate: 4.74%
• Cash-on-cash: -5.56%
• DSCR: 0.75
• 1% rule: 0.64%
• Cash to close: $44,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $-208 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (35.9% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $102k (35.9% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.2% local appreciation)).
• Location reads 71/100 on livability (#416 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: health & safety C-, employment D, amenities F.
• Ansonia Local (rural): math 69% / reading 69% proficiency, ranked #170 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 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.
• 5 sale attempts since 14y ago 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.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1973 — 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?
• 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.
• 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.