2966 Church St

South Salem, OH 45681

$49,900B+

2 bd · 1.0 ba · 1,036 sqft · Built 1900 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $988/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $320/mo
• Annual: $3,839/yr
• Cap rate: 13.99%
• Cash-on-cash: 27.48%
• DSCR: 2.22
• 1% rule: 1.98%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $50k).
• It's been on market 41 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• In year one you build about $672 of equity ($345 loan paydown + $327 appreciation (0.7% local appreciation)).
• Location reads 63/100 on livability (#856 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Greenfield Exempted Village (town): math 56% / reading 56% proficiency, ranked #375 of 656 in OH (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenfield Middle School (math 53% / reading 53%, grade C+, #372 of 654 statewide, top 58%, 402 students, 59% FRL); Mcclain High School (math 42% / reading 57%, grade D, #390 of 781 statewide, top 54%, 537 students, 46% FRL) — zoned schools at 52% FRL track the district average.
• Watch-outs: property tax is 4.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.