401 S Fayette St

Fayette, OH 43521

$137,000C-

3 bd · 1.5 ba · 1,671 sqft · Built 1900 · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,210/mo
• Mortgage (P&I): −$718
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $121/mo
• Annual: $1,451/yr
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• 1% rule: 0.88%
• Cash to close: $38,360

Investor read

• This is a 3-bed/1.5-bath single-family listed at $137k.
• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (11.6% below list).
• It's been on market 42 days — a 3% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (11.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $947 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#879 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute F.
• Fayette Local (rural): math 60% / reading 65% proficiency, ranked #452 of 802 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fayette Elementary School (math 67% / reading 62%, grade B, #522 of 1,584 statewide, top 36%, 220 students, 0% FRL); Fayette Jr/Sr High School (math 54% / reading 44%, grade D, #390 of 781 statewide, top 54%, 141 students, 98% FRL) — zoned schools at 49% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 24 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• Fulton County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $34k; list at $137k implies a 303% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.