520 High St

Pleasant City, OH 43772

$39,900B+

2 bd · 1.0 ba · 672 sqft · Built 1900 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $816/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $373/mo
• Annual: $4,478/yr
• Cap rate: 17.52%
• Cash-on-cash: 40.08%
• DSCR: 2.78
• 1% rule: 2.05%
• Cash to close: $11,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($816 rent vs $40k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($276 loan paydown + $1k appreciation (3.4% local appreciation)).
• Location reads 60/100 on livability (#965 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D, health & safety D, schools F.
• Rolling Hills Local (rural): math 44% / reading 54% proficiency, ranked #463 of 656 in OH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 37 units permitted in Guernsey County in 2024 (0 in 5+ unit buildings).
• Guernsey County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 21y 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.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• This rent is only 16% of the median local income ($63k/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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.