8835 Iroquois Way

Orient, OH 43146

$159,900F

3 bd · 2.0 ba · 1,580 sqft · Built 2026 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,838/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$266
• HOA: −$575
• Vac / Maint / Mgmt: −$386
• Net cashflow: $-228/mo
• Annual: $-2,734/yr
• Cap rate: 4.58%
• Cash-on-cash: -6.11%
• DSCR: 0.73
• 1% rule: 1.15%
• Cash to close: $44,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k. Condition is rated poor.
• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (20.6% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 78 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (20.6% below list) — sets the bar for cash-flow.
• 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 52/100 on livability (#1,166 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, employment B; Watch: amenities F, commute F, housing F.
• Westfall Local (rural): math 49% / reading 66% proficiency, ranked #304 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Westfall Elementary School (math 48% / reading 67%, grade C+, #721 of 1,584 statewide, top 46%, 648 students, 46% FRL); Westfall Middle School (math 55% / reading 63%, grade B, #280 of 654 statewide, top 44%, 340 students, 43% FRL); Westfall High School (math 37% / reading 67%, grade D+, #343 of 781 statewide, top 47%, 424 students, 36% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: HOA is 31% of rent.
• Market conditions: 34 active listings in the ZIP; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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 4.6% vs local median 3.1% in Orient — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear visible.
• Major: roof — Significant wear and tear visible.
• Major: windows — Significant wear and tear visible.
• Major: landscaping — Sparse vegetation and no visible curb appeal.
• Major: interior walls/paint — No interior walls or paint are visible in the photos, but given the exterior condition, it's likely poor.
• Major: bathrooms — No bathrooms are visible in the photos, but given the exterior condition, it's likely poor.