80 S Hartford Ave

Centerburg, OH 43011

$105,000B

3 bd · 1.5 ba · 1,796 sqft · Built 1910 · SingleFamily · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,795/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $576/mo
• Annual: $6,916/yr
• Cap rate: 12.88%
• Cash-on-cash: 23.52%
• DSCR: 2.05
• 1% rule: 1.71%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.5-bath single-family listed at $105k.
• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 19 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#367 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Centerburg Local (rural): math 60% / reading 71% proficiency, ranked #183 of 656 in OH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Centerburg Elementary School (math 77% / reading 85%, grade A+, #157 of 1,584 statewide, top 10%, 482 students, 23% FRL); Centerburg Middle School (math 47% / reading 57%, grade C+, #386 of 654 statewide, top 61%, 268 students, 0% FRL); Centerburg High School (math 47% / reading 77%, grade B-, #202 of 781 statewide, top 29%, 299 students, 42% FRL) — zoned schools at 22% FRL track the district average.
• Watch-outs: property tax is 2.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; solid renter incomes; 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 26y 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 $84k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.9% vs local median 2.8% in Centerburg — 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.