17409 Mapleboro Ave

Maple Heights, OH 44137

$141,000F

2 bd · 1.0 ba · 720 sqft · Built 1952 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,174/mo
• Mortgage (P&I): −$739
• Tax + insurance: −$329
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-140/mo
• Annual: $-1,686/yr
• Cap rate: 5.10%
• Cash-on-cash: -4.27%
• DSCR: 0.81
• 1% rule: 0.83%
• Cash to close: $39,480

Investor read

• This is a 2-bed/1.0-bath single-family listed at $141k.
• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (16.7% below list).
• It's been on market 62 days — a 6% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (17.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $975 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#470 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: schools D+, crime D, employment D.
• Maple Heights City (suburban): math 14% / reading 25% proficiency, ranked #630 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+14.8%/yr); 84 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.1% vs local median 7.7% in Maple Heights — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 62 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?