1708 W 8th St

Ashtabula, OH 44004

$109,900B

3 bd · 1.0 ba · 932 sqft · Built 1916 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,312/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $363/mo
• Annual: $4,358/yr
• Cap rate: 10.26%
• Cash-on-cash: 14.16%
• DSCR: 1.63
• 1% rule: 1.19%
• Cash to close: $30,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 55 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#420 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools C-, amenities F, commute F.
• Ashtabula Area City (town): math 24% / reading 35% proficiency, ranked #588 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 162 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 21y 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 $71k; list at $110k implies a 55% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.3% vs local median 8.2% in Ashtabula — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 32% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1916 — 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.
• 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.