204 Oak St

Bethesda, OH 43719

$160,000D

3 bd · 1.0 ba · 1,648 sqft · Built 1900 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,199/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-33/mo
• Annual: $-400/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• 1% rule: 0.75%
• Cash to close: $44,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $-33 ($-400/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (25.1% below list).
• It's been on market 36 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (25.1% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#520 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Union Local (rural): math 39% / reading 60% proficiency, ranked #450 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union Local Elementary School (math 49% / reading 58%, grade C, #834 of 1,584 statewide, top 53%, 635 students, 43% FRL); Union Local Middle School (math 39% / reading 61%, grade C, #416 of 654 statewide, top 64%, 342 students, 32% FRL); Union Local High School (math 17% / reading 62%, grade F, #528 of 781 statewide, top 71%, 434 students, 26% FRL) — zoned schools at 34% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• Belmont County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 36 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.