3277 St Rt 73

Rocky Fork Point, OH 45133

$150,000D+

3 bd · 2.0 ba · 1,270 sqft · Built 1991 · SingleFamily · Active · 207 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,374/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $112/mo
• Annual: $1,344/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• 1% rule: 0.92%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $112 ($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 $137k (8.4% below list).
• It's been on market 207 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#1,111 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime D-, amenities F.
• Bright Local (rural): math 58% / reading 62% proficiency, ranked #298 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 125 active listings in the ZIP; 20 units permitted in Highland County in 2024 (0 in 5+ unit buildings).
• Highland County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $150k implies a 68% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 207 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?
• 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.