112 Washington St

Willard, OH 44890

$105,000C-

3 bd · 1.0 ba · 1,372 sqft · Built 2000 · SingleFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,118/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $233/mo
• Annual: $2,797/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 91 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#469 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Willard City (town): math 38% / reading 49% proficiency, ranked #505 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Willard Elementary School (math 48% / reading 51%, grade D, #906 of 1,584 statewide, top 59%, 586 students, 68% FRL); Willard Middle School (math 35% / reading 45%, grade F, #511 of 654 statewide, top 79%, 299 students, 66% FRL); Willard High School (math 27% / reading 57%, grade F, #497 of 781 statewide, top 66%, 362 students, 55% FRL).
• Market conditions: 60 active listings in the ZIP; 40 units permitted in Huron County in 2024 (0 in 5+ unit buildings).
• Huron County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 5y 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 $66k; list at $105k implies a 59% gain — meaningful room to come down on a strong offer.
• Cap rate 9.0% vs local median 3.6% in Willard — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are D-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.