406 Stryker St

Archbold, OH 43502

$135,000C-

3 bd · 1.0 ba · 1,240 sqft · Built 1950 · SingleFamily · Contingent · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-5/mo
• Annual: $-63/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• 1% rule: 0.81%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-5 ($-63/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (18.5% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (18.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#237 in OH, #3,767 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Archbold-Area Local (town): math 75% / reading 79% proficiency, ranked #77 of 656 in OH (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Archbold Elementary School (math 87% / reading 82%, grade A+, #68 of 1,584 statewide, top 6%, 431 students, 27% FRL); Archbold Middle School (math 74% / reading 78%, grade A, #74 of 654 statewide, top 12%, 392 students, 21% FRL); Archbold High School (math 57% / reading 77%, grade B, #137 of 781 statewide, top 19%, 333 students, 20% FRL) — zoned schools at 23% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 24 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• Fulton County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $89k; list at $135k implies a 52% gain — meaningful room to come down on a strong offer.

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?
• Built in 1950 — 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.