57212 Westlawn Ave

Martins Ferry, OH 43935

$29,000D+

2 bd · 1.0 ba · 896 sqft · Built 1959 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$152
• Tax + insurance: −$21
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $1,012/mo
• Annual: $12,139/yr
• Cap rate: 48.15%
• Cash-on-cash: 149.50%
• DSCR: 7.65
• 1% rule: 5.17%
• Cash to close: $8,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $29k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $29k).
• It's been on market 66 days — a 6% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#423 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Martins Ferry City (suburban): math 42% / reading 54% proficiency, ranked #483 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 48.2% vs local median 8.3% in Martins Ferry — 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.
• This rent runs 36% 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 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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?
• 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.