1078 Aberagg Rd

Suffield, OH 44201

$155,000C-

3 bd · 1.0 ba · 1,360 sqft · Built 1965 · SingleFamily · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,420/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$298
• Net cashflow: $72/mo
• Annual: $863/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• 1% rule: 0.92%
• Cash to close: $43,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $72 ($863/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (8.4% below list).
• It's been on market 131 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Waterloo Local (rural): math 53% / reading 56% proficiency, ranked #356 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Waterloo Elementary School (math 57% / reading 62%, grade B-, #670 of 1,584 statewide, top 45%, 410 students, 65% FRL); Waterloo Middle School (math 47% / reading 52%, grade C, #421 of 654 statewide, top 65%, 178 students, 0% FRL); Waterloo High School (math 57% / reading 67%, grade B-, #202 of 781 statewide, top 29%, 224 students, 35% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 18 active listings in the ZIP; solid renter incomes; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• Current owner paid $80k; list at $155k implies a 93% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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.
• 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.