36602 Kinzel Rd

Avon, OH 44011

$295,000B-

5 bd · 1.0 ba · 2,370 sqft · Built 1910 · SingleFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,054/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$367
• HOA: −$0
• Vac / Maint / Mgmt: −$641
• Net cashflow: $499/mo
• Annual: $5,982/yr
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• 1% rule: 1.04%
• Cash to close: $82,600

Investor read

• This is a 5-bed/1.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• It's been on market 25 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $291k (1.5% below list) — sets the bar for market timing.
• 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 72/100 on livability (#356 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment 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.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 129 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).
• 4 sale attempts since 35y 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 $142k; list at $295k implies a 108% gain — meaningful room to come down on a strong offer.
• Cap rate 8.3% 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 1910 — 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.