221 W Wood St

Malvern, OH 44644

$160,000C-

1 bd · 1.5 ba · 1,740 sqft · Built 1946 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,432/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $121/mo
• Annual: $1,446/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• 1% rule: 0.89%
• Cash to close: $44,800

Investor read

• This is a 1-bed/1.5-bath single-family listed at $160k.
• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (10.5% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $143k (10.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#754 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Brown Local (town): math 43% / reading 55% proficiency, ranked #453 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 2 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $135k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 31% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1946 — 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 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.