101 N Sundale Rd

Norwich, OH 43767

$89,900B+

3 bd · 2.0 ba · 1,344 sqft · Built 1985 · SingleFamily · Active · 193 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,216/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $353/mo
• Annual: $4,235/yr
• Cap rate: 11.00%
• Cash-on-cash: 16.82%
• DSCR: 1.75
• 1% rule: 1.35%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 193 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($622 loan paydown + $6k appreciation (6.6% local appreciation)).
• Location reads 59/100 on livability (#1,005 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
• East Muskingum Local (rural): math 66% / reading 69% proficiency, ranked #176 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Larry Miller Intermediate Elementary School (math 75% / reading 71%, grade A, #315 of 1,584 statewide, top 20%, 469 students, 30% FRL); East Muskingum Middle School (math 63% / reading 66%, grade A-, #205 of 654 statewide, top 34%, 504 students, 29% FRL); John Glenn High School (math 47% / reading 72%, grade C+, #243 of 781 statewide, top 33%, 603 students, 23% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 5 active listings in the ZIP; 140 units permitted in Muskingum County in 2024 (100 in 5+ unit buildings).
• Muskingum County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $40k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% 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 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.