717 Hazelwood Dr

Vermilion, OH 44089

$269,900D-

3 bd · 2.0 ba · 1,548 sqft · Built 1951 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,099/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$344
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $-101/mo
• Annual: $-1,212/yr
• Cap rate: 5.84%
• Cash-on-cash: -1.60%
• DSCR: 0.93
• 1% rule: 0.78%
• Cash to close: $75,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (22.2% below list).
• It's been on market 23 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $210k (22.2% 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 $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#96 in OH, #1,481 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Vermilion Local (suburban): math 56% / reading 60% proficiency, ranked #316 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Vermilion Elementary School (math 57% / reading 62%, grade B-, #670 of 1,584 statewide, top 45%, 534 students, 37% FRL); Sailorway Middle School (math 64% / reading 64%, grade B+, #221 of 654 statewide, top 35%, 507 students, 36% FRL); Vermilion High School (math 44% / reading 53%, grade D, #427 of 781 statewide, top 55%, 674 students, 31% FRL) — zoned schools at 35% FRL track the district average.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 145 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• 4 sale attempts since 9y 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 $126k; list at $270k implies a 113% gain — meaningful room to come down on a strong offer.
• This rent runs 35% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Built in 1951 — 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 B-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?
• 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.