16423 St Rt 247

Seaman, OH 45679

$139,900C

3 bd · 1.0 ba · 1,251 sqft · Built 1901 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,165/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $76/mo
• Annual: $908/yr
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• 1% rule: 0.83%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $76 ($908/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 $117k (16.7% below list).
• It's been on market 41 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (16.7% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($967 loan paydown + $763 appreciation (0.6% local appreciation)).
• Location reads 64/100 on livability (#786 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools C-, health & safety C-, amenities F.
• Adams County Ohio Valley Local (rural): math 48% / reading 51% proficiency, ranked #463 of 656 in OH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 42 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1901 — 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.