1235 Twp Rd 353

Polk, OH 44866

$1C-

3 bd · 2.5 ba · 2,262 sqft · Built 1997 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,251/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $988/mo
• Annual: $11,859/yr
• Cap rate: 1185860.68%
• Cash-on-cash: 4235194.24%
• DSCR: 188443.31
• 1% rule: 125091.00%
• Cash to close: $0

Investor read

• This is a 3-bed/2.5-bath single-family listed at $1.
• At list price, monthly cash flow is $988 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 18 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Location reads 59/100 on livability (#1,032 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, schools F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• 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?
• 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.