468 Stallion Ct

Pheasant Run, OH 44050

$41,000B

3 bd · 1.0 ba · 924 sqft · Built 1973 · SingleFamily · Active · 205 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,647/mo
• Mortgage (P&I): −$215
• Tax + insurance: −$139
• HOA: −$80
• Vac / Maint / Mgmt: −$346
• Net cashflow: $867/mo
• Annual: $10,400/yr
• Cap rate: 31.66%
• Cash-on-cash: 90.59%
• DSCR: 5.03
• 1% rule: 4.02%
• Cash to close: $11,480

Investor read

• This is a 3-bed/1.0-bath single-family listed at $41k.
• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $41k).
• It's been on market 205 days — a 12% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#475 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: schools D, health & safety D, amenities F.
• Keystone Local (rural): math 55% / reading 67% proficiency, ranked #249 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.6% of price.
• Market conditions: 29 active listings in the ZIP; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• Current owner paid $29k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.