1652 Oregon Ave

Steubenville, OH 43952

$104,900C-

2 bd · 1.5 ba · 1,500 sqft · Built 1925 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $981/mo
• Mortgage (P&I): −$550
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $103/mo
• Annual: $1,240/yr
• Cap rate: 7.48%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• 1% rule: 0.93%
• Cash to close: $29,372

Investor read

• This is a 2-bed/1.5-bath single-family listed at $105k.
• At list price, monthly cash flow is $103 ($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 $98k (6.5% below list).
• It's been on market 15 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (6.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#214 in OH, #3,318 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, cost of living A+; Watch: amenities F, employment F.
• Steubenville City (urban): math 74% / reading 71% proficiency, ranked #150 of 656 in OH (top 23%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 98 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 10y 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 $45k; list at $105k implies a 133% gain — meaningful room to come down on a strong offer.
• Cap rate 7.5% vs local median 5.2% in Steubenville — 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

• Built in 1925 — 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 A-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?
• 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.