Champion Mansion Plan

Delta, OH 43515

$2,500F

2 bd · 1.0 ba · 1,008 sqft · Built — · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,040/mo
• Mortgage (P&I): −$823
• Tax + insurance: −$261
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $-263/mo
• Annual: $-3,152/yr
• Cap rate: 4.28%
• Cash-on-cash: -7.17%
• DSCR: 0.68
• 1% rule: 0.66%
• Cash to close: $43,930

Investor read

• This is a 2-bed/1.0-bath single-family listed at $2k.
• At list price, monthly cash flow is $-263 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• It's been on market 49 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• 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 77/100 on livability (#192 in OH, #2,924 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Pike-Delta-York Local (town): math 71% / reading 70% proficiency, ranked #142 of 656 in OH (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: property tax is 94.1% of price.
• Market conditions: 26 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• This rent is only 16% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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?
• 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.