62 Redwood Dr

Beloit, OH 44609

$41,000B

2 bd · 2.0 ba · 1,000 sqft · Built 2000 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $650/mo
• Mortgage (P&I): −$215
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$136
• Net cashflow: $230/mo
• Annual: $2,762/yr
• Cap rate: 13.03%
• Cash-on-cash: 24.06%
• DSCR: 2.07
• 1% rule: 1.59%
• Cash to close: $11,480

Investor read

• This is a 2-bed/2.0-bath single-family listed at $41k.
• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($650 rent vs $41k).
• It's been on market 19 days — a 2% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#620 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• West Branch Local (rural): math 72% / reading 65% proficiency, ranked #167 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Branch Intermediate School (math 84% / reading 67%, grade A, #257 of 1,584 statewide, top 17%, 252 students, 0% FRL); West Branch Middle School (math 67% / reading 64%, grade A-, #186 of 654 statewide, top 29%, 400 students, 64% FRL); West Branch High School (math 67% / reading 66%, grade B, #150 of 781 statewide, top 20%, 621 students, 26% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 11 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 7y 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 $18k; list at $41k implies a 128% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~6 years — after that, you're playing with house money.
• This rent is only 12% 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

• 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?
• 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.