99 N Munroe Rd

Tallmadge, OH 44278

$285,000D-

3 bd · 1.0 ba · 1,276 sqft · Built 1954 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,668/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$421
• HOA: −$0
• Vac / Maint / Mgmt: −$350
• Net cashflow: $-597/mo
• Annual: $-7,166/yr
• Cap rate: 4.01%
• Cash-on-cash: -8.14%
• DSCR: 0.64
• 1% rule: 0.59%
• Cash to close: $79,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $-597 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (37.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (41.5% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $167k (41.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#51 in OH, #730 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D+, commute F.
• Tallmadge City (suburban): math 61% / reading 63% proficiency, ranked #244 of 656 in OH (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tallmadge Elementary School (math 63% / reading 62%, grade B, #580 of 1,584 statewide, top 37%, 1,105 students, 27% FRL); Tallmadge Middle School (math 62% / reading 64%, grade B+, #233 of 654 statewide, top 36%, 559 students, 21% FRL); Tallmadge High School (math 52% / reading 67%, grade C+, #243 of 781 statewide, top 33%, 800 students, 16% FRL) — zoned schools at 21% FRL track the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 23y ago 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.
• Current owner paid $122k; list at $285k implies a 134% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.0% vs local median 3.1% in Tallmadge — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.