1742 Flaler Rd

Fort Recovery, OH 45846

$1F

3 bd · 1.5 ba · 1,729 sqft · Built 1962 · SingleFamily · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,208/mo
• Mortgage (P&I): −$997
• Tax + insurance: −$317
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-360/mo
• Annual: $-4,320/yr
• Cap rate: 4.02%
• Cash-on-cash: -8.11%
• DSCR: 0.64
• 1% rule: 0.64%
• Cash to close: $53,253

Investor read

• This is a 3-bed/1.5-bath single-family listed at $1.
• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 38 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#519 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• Fort Recovery Local (rural): math 85% / reading 79% proficiency, ranked #43 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 285285.0% of price.
• Market conditions: 2 active listings in the ZIP; solid renter incomes; 92 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• This rent is only 16% of the median local income ($92k/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?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1962 — 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?
• 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.