5105 Campbell St

Bloomingville, OH 44870

$149,900C+

3 bd · 1.0 ba · 1,030 sqft · Built 1953 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,550/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$325
• Net cashflow: $288/mo
• Annual: $3,453/yr
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• 1% rule: 1.03%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 34 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Perkins Local (town): math 55% / reading 61% proficiency, ranked #303 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 210 active listings in the ZIP; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• Erie County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1953 — 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.
• 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.