211 N Main St

Pleasantville, OH 43148

$1D-

2 bd · 1.0 ba · 1,304 sqft · Built 1900 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$1,217
• Tax + insurance: −$387
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $-64/mo
• Annual: $-763/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.17%
• DSCR: 0.95
• 1% rule: 0.84%
• Cash to close: $64,991

Investor read

• This is a 2-bed/1.0-bath single-family listed at $1.
• At list price, monthly cash flow is $-64 ($-763/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,057 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, schools B; Watch: crime C-, amenities F, commute F.
• Fairfield Union Local (rural): math 45% / reading 64% proficiency, ranked #365 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 348168.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• Fairfield County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 32% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Built in 1900 — 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 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.
• 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.