1514 Commerce St

Wellsville, OH 43968

$76,700B-

3 bd · 1.5 ba · 1,288 sqft · Built 1930 · SingleFamily · Active · 229 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,119/mo
• Mortgage (P&I): −$402
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $378/mo
• Annual: $4,532/yr
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• 1% rule: 1.46%
• Cash to close: $21,476

Investor read

• This is a 3-bed/1.5-bath single-family listed at $77k.
• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• It's been on market 229 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($530 loan paydown + $1k appreciation (1.8% local appreciation)).
• Location reads 69/100 on livability (#505 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Wellsville Local (town): math 34% / reading 46% proficiency, ranked #546 of 656 in OH (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Garfield Elementary School (math 27% / reading 27%, grade F, #1,193 of 1,584 statewide, top 76%, 262 students, 0% FRL); Daw Elementary School (math 37% / reading 47%, grade D-, #499 of 654 statewide, top 77%, 184 students, 0% FRL); Wellsville Jr. Sr. High (math 32% / reading 52%, grade F, #497 of 781 statewide, top 66%, 261 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• Columbiana County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.