416 Broadway St

Bowerston, OH 44695

$29,900B

2 bd · 2.0 ba · 1,056 sqft · Built 1983 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $953/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $553/mo
• Annual: $6,636/yr
• Cap rate: 28.49%
• Cash-on-cash: 79.26%
• DSCR: 4.53
• 1% rule: 3.19%
• Cash to close: $8,372

Investor read

• This is a 2-bed/2.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $30k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $90 of equity ($207 loan paydown + $-117 appreciation (-0.4% local appreciation)).
• Location reads 58/100 on livability (#1,051 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools D+, crime D-, amenities F.
• Conotton Valley Union Local (rural): math 37% / reading 42% proficiency, ranked #541 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 1 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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?
• 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.