7107 Friendsville Rd

Chippewa Lake, OH 44256

$349,900D

6 bd · 2.5 ba · 3,034 sqft · Built 1997 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,423/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$476
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-397/mo
• Annual: $-4,761/yr
• Cap rate: 4.93%
• Cash-on-cash: -4.86%
• DSCR: 0.78
• 1% rule: 0.69%
• Cash to close: $97,972

Investor read

• This is a 6-bed/2.5-bath single-family listed at $350k.
• At list price, monthly cash flow is $-397 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (30.7% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $242k (30.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#598 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• Cloverleaf Local (rural): math 61% / reading 68% proficiency, ranked #205 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cloverleaf Elementary School (math 64% / reading 70%, grade B+, #456 of 1,584 statewide, top 31%, 1,075 students, 32% FRL); Cloverleaf Middle School (math 64% / reading 63%, grade B+, #228 of 654 statewide, top 35%, 540 students, 33% FRL); Cloverleaf High School (math 47% / reading 72%, grade C+, #243 of 781 statewide, top 33%, 591 students, 32% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 369 active listings in the ZIP; solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).
• Current owner paid $80k; list at $350k implies a 335% gain — meaningful room to come down on a strong offer.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.