46 Twp Rd 1021

Burlington, OH 45680

$26,353D-

2 bd · 1.0 ba · 1,240 sqft · Built 1990 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,050/mo
• Mortgage (P&I): −$754
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $-77/mo
• Annual: $-921/yr
• Cap rate: 5.65%
• Cash-on-cash: -2.29%
• DSCR: 0.90
• 1% rule: 0.73%
• Cash to close: $40,275

Investor read

• This is a 2-bed/1.0-bath single-family listed at $26k.
• At list price, monthly cash flow is $-77 ($-921/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• It's been on market 34 days — a 3% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $994 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#236 in OH, #3,727 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D+, employment D, amenities F.
• South Point Local (suburban): math 34% / reading 51% proficiency, ranked #525 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burlington Elementary School (math 37% / reading 47%, grade F, #1,030 of 1,584 statewide, top 66%, 323 students, 0% FRL); South Point Middle School (math 31% / reading 48%, grade F, #519 of 654 statewide, top 80%, 330 students, 0% FRL); South Point High School (math 27% / reading 57%, grade F, #497 of 781 statewide, top 66%, 350 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 4.2% of price.
• Market conditions: 42 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.