Barclay Plan

Commercial Point, OH 43116

$429,200F

4 bd · 2.5 ba · 2,324 sqft · Built — · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,650/mo
• Mortgage (P&I): −$2,685
• Tax + insurance: −$853
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $-1,445/mo
• Annual: $-17,341/yr
• Cap rate: 2.91%
• Cash-on-cash: -12.10%
• DSCR: 0.46
• 1% rule: 0.52%
• Cash to close: $143,371

Investor read

• This is a 4-bed/2.5-bath single-family listed at $429k.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (38.3% below list).
• It's been on market 27 days — a 2% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (38.3% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($4k loan paydown + $3k appreciation (0.6% local appreciation)).
• Location reads 72/100 on livability (#388 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Teays Valley Local (town): math 66% / reading 68% proficiency, ranked #166 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• 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.
• 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.