792 Kingwood Dr NE

Wilkshire Hills, OH 44612

$289,900C-

6 bd · 3.0 ba · 3,072 sqft · Built 1972 · MultiFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,705/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$419
• HOA: −$0
• Vac / Maint / Mgmt: −$568
• Net cashflow: $197/mo
• Annual: $2,366/yr
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• 1% rule: 0.93%
• Cash to close: $81,172

Investor read

• This is a 2 × 3-bed/?-bath units multifamily listed at $290k.
• At list price, monthly cash flow is $197 ($2k/yr) — positive. Per door: $99/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (6.7% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $270k (6.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Tuscarawas Valley Local (rural): math 71% / reading 71% proficiency, ranked #138 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Tuscarawas Valley Intermediate (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 287 students, 36% FRL); Tuscarawas Valley Middle School (math 72% / reading 73%, grade A, #113 of 654 statewide, top 17%, 407 students, 32% FRL); Tuscarawas Valley High School (math 62% / reading 77%, grade B, #106 of 781 statewide, top 16%, 331 students, 31% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 26 active listings in the ZIP; solid renter incomes; 244 units permitted in Tuscarawas County in 2024 (0 in 5+ unit buildings).
• Tuscarawas County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 11y 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 $210k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 38% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1972 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.