1905 Meadow Ave

Maumee, OH 43537

$160,000C-

2 bd · 1.0 ba · 825 sqft · Built 1952 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,443/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$303
• Net cashflow: $124/mo
• Annual: $1,486/yr
• Cap rate: 7.22%
• Cash-on-cash: 3.32%
• DSCR: 1.15
• 1% rule: 0.90%
• Cash to close: $44,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $124 ($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 $144k (9.8% below list).
• It's been on market 22 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (9.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#221 in OH, #3,442 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• Maumee City (suburban): math 65% / reading 67% proficiency, ranked #194 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fort Miami Elementary School (math 62% / reading 42%, grade C-, #851 of 1,584 statewide, top 56%, 330 students, 30% FRL); Maumee High School (math 67% / reading 76%, grade B+, #98 of 781 statewide, top 13%, 648 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 113 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 22y 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.
• Cap rate 7.2% vs local median 2.8% in Maumee — 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

• Built in 1952 — 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 A-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.