852 Wallace Rd

Little Hocking, OH 45742

$169,900C-

3 bd · 1.0 ba · 1,176 sqft · Built 1988 · SingleFamily · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,270/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-108/mo
• Annual: $-1,297/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.73%
• DSCR: 0.88
• 1% rule: 0.75%
• Cash to close: $47,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (25.2% below list).
• It's been on market 223 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (25.2% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.2% local appreciation)).
• Location reads 56/100 on livability (#1,116 in OH) — a working-class tenant base; expect higher turnover. Strengths: schools A+, cost of living A+, crime A; Watch: health & safety D, amenities F, commute F.
• Warren Local (rural): math 57% / reading 67% proficiency, ranked #253 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; solid renter incomes; 3 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 17y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $170k implies a 62% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent is only 17% of the median local income ($88k/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 223 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.