19842 State Route 245

Marysville, OH 43040

$290,000D-

3 bd · 1.0 ba · 1,440 sqft · Built 1970 · SingleFamily · Pending · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,765/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$376
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $-503/mo
• Annual: $-6,031/yr
• Cap rate: 4.21%
• Cash-on-cash: -7.43%
• DSCR: 0.67
• 1% rule: 0.61%
• Cash to close: $81,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $290k.
• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (30.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (39.1% below list).
• It's been on market 105 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (39.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#157 in OH, #2,377 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Marysville Exempted Village (town): math 67% / reading 73% proficiency, ranked #137 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents flat; 227 active listings in the ZIP; solid renter incomes; 1,498 units permitted in Union County in 2024 (831 in 5+ unit buildings).
• Union County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 22y 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 $50k; list at $290k implies a 480% gain — meaningful room to come down on a strong offer.
• Cap rate 4.2% vs local median 2.2% in Marysville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 105 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.