603 Main St

New Weston, OH 45348

$35,000A-

2 bd · 1.0 ba · 986 sqft · Built 1900 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,036/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $576/mo
• Annual: $6,918/yr
• Cap rate: 26.06%
• Cash-on-cash: 70.59%
• DSCR: 4.14
• 1% rule: 2.96%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• 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 ($1k rent vs $35k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($242 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 56/100 on livability (#1,107 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, health & safety C-, crime D-.
• Ansonia Local (rural): math 69% / reading 69% proficiency, ranked #170 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ansonia Elementary School (math 75% / reading 65%, grade A-, #380 of 1,584 statewide, top 25%, 471 students, 64% FRL); Ansonia Middle School (math 72% / reading 77%, grade A, #88 of 654 statewide, top 14%, 124 students, 0% FRL); Ansonia High School (math 44% / reading 74%, grade C+, #243 of 781 statewide, top 33%, 207 students, 0% FRL) — zoned schools average 21% FRL vs 45% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; solid renter incomes; 43 units permitted in Darke County in 2024 (0 in 5+ unit buildings).
• Darke County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent is only 11% of the median local income ($108k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1900 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.