21070 US Rt 52

Rome (Stout), OH 45684

$132,900D+

2 bd · 1.0 ba · 1,008 sqft · Built 1994 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,037/mo
• Mortgage (P&I): −$697
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $-75/mo
• Annual: $-897/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• 1% rule: 0.78%
• Cash to close: $37,212

Investor read

• This is a 2-bed/1.0-bath single-family listed at $133k.
• At list price, monthly cash flow is $-75 ($-897/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (22.0% below list).
• It's been on market 108 days — a 9% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (22.0% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($919 loan paydown + $5k appreciation (3.6% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Manchester Local (rural): math 38% / reading 55% proficiency, ranked #497 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Manchester Elementary School (math 47% / reading 57%, grade C-, #851 of 1,584 statewide, top 56%, 348 students, 0% FRL); Manchester High School (math 27% / reading 52%, grade F, #528 of 781 statewide, top 71%, 352 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 3 active listings in the ZIP; 42 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 6y 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 $33k; list at $133k implies a 303% gain — meaningful room to come down on a strong offer.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.