307 W Washington St

Arcanum, OH 45304

$1F

3 bd · 2.0 ba · 1,356 sqft · Built 1953 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$1,074
• Tax + insurance: −$341
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-546/mo
• Annual: $-6,552/yr
• Cap rate: 3.09%
• Cash-on-cash: -11.43%
• DSCR: 0.49
• 1% rule: 0.54%
• Cash to close: $57,332

Investor read

• This is a 3-bed/2.0-bath single-family listed at $1.
• At list price, monthly cash flow is $-546 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 22 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#326 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: health & safety C-, amenities F, commute F.
• Arcanum-Butler Local (rural): math 72% / reading 76% proficiency, ranked #110 of 656 in OH (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 307134.0% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 43 units permitted in Darke County in 2024 (0 in 5+ unit buildings).
• Darke County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.