9040 St Rt 243

Burlington, OH 45680

$59,000B-

2 bd · 1.0 ba · 864 sqft · Built 1990 · SingleFamily · Active · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $856/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $254/mo
• Annual: $3,045/yr
• Cap rate: 11.45%
• Cash-on-cash: 18.43%
• DSCR: 1.82
• 1% rule: 1.45%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($856 rent vs $59k).
• It's been on market 180 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#236 in OH, #3,727 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D+, employment D, schools F.
• Dawson-Bryant Local (suburban): math 44% / reading 50% proficiency, ranked #485 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $59k implies a 69% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.