7182 Hills And Dales Rd NW #21

Massillon, OH 44646

$121,125F

1 bd · 2.0 ba · 1,375 sqft · Built 1986 · Condo · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,193/mo
• Mortgage (P&I): −$635
• Tax + insurance: −$202
• HOA: −$350
• Vac / Maint / Mgmt: −$251
• Net cashflow: $-245/mo
• Annual: $-2,936/yr
• Cap rate: 3.87%
• Cash-on-cash: -8.66%
• DSCR: 0.61
• 1% rule: 0.98%
• Cash to close: $33,915

Investor read

• This is a 1-bed/2.0-bath condo listed at $121k. Condition is rated fair.
• At list price, monthly cash flow is $-245 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (1.5% below list).
• It's been on market 70 days — a 6% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (29.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $838 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#306 in OH, #4,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, amenities F, commute F.
• Jackson Local (suburban): math 75% / reading 78% proficiency, ranked #67 of 656 in OH (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Amherst Elementary School (math 66% / reading 71%, grade B+, #434 of 1,584 statewide, top 28%, 480 students, 36% FRL); Jackson Memorial Middle School (math 72% / reading 76%, grade A, #94 of 654 statewide, top 15%, 1,324 students, 17% FRL); Jackson High School (math 63% / reading 80%, grade B+, #98 of 781 statewide, top 13%, 2,024 students, 16% FRL).
• Watch-outs: HOA is 29% of rent.
• Market conditions: Rents rising fast (+6.0%/yr); 212 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

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 70 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 B-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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant weathering and discoloration
• Major: flooring — Carpet in poor condition
• Major: interior walls/paint — Peeling and discoloration
• Major: bathrooms — Dated fixtures and wallpaper
• Moderate: kitchen cabinets — Standard cabinets with dated design