2765 Nagel Rd

Avon, OH 44011

$229,000B-

4 bd · 1.0 ba · 1,146 sqft · Built 1950 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,406/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$505
• Net cashflow: $416/mo
• Annual: $4,993/yr
• Cap rate: 8.47%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• 1% rule: 1.05%
• Cash to close: $64,120

Investor read

• This is a 4-bed/1.0-bath single-family listed at $229k.
• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $229k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#356 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Avon Local (suburban): math 77% / reading 84% proficiency, ranked #37 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Avon Heritage Elementary School (math 84% / reading 83%, grade A+, #96 of 1,584 statewide, top 6%, 972 students, 13% FRL); Avon Middle School (math 75% / reading 83%, grade A+, #54 of 654 statewide, top 9%, 1,084 students, 11% FRL); Avon High School (math 65% / reading 86%, grade A-, #65 of 781 statewide, top 8%, 1,456 students, 9% FRL) — zoned schools at 11% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 130 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• Cap rate 8.5% vs local median 2.3% in Avon — 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

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.