3800 Rosemont Blvd Unit 109C

Fairlawn, OH 44333

$181,000D-

2 bd · 2.0 ba · 1,231 sqft · Built 1996 · Condo · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,632/mo
• Mortgage (P&I): −$949
• Tax + insurance: −$254
• HOA: −$387
• Vac / Maint / Mgmt: −$343
• Net cashflow: $-301/mo
• Annual: $-3,617/yr
• Cap rate: 4.29%
• Cash-on-cash: -7.14%
• DSCR: 0.68
• 1% rule: 0.90%
• Cash to close: $50,680

Investor read

• This is a 2-bed/2.0-bath condo listed at $181k.
• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $128k (29.4% below list) — sets the bar for cash-flow.
• 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 89/100 on livability (#11 in OH, #122 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Copley-Fairlawn City (suburban): math 77% / reading 79% proficiency, ranked #58 of 656 in OH (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Herberich Primary Elementary School (math 87% / reading 82%, grade A+, #68 of 1,584 statewide, top 6%, 249 students, 16% FRL); Copley-Fairlawn Middle School (math 76% / reading 79%, grade A+, #68 of 654 statewide, top 10%, 756 students, 16% FRL); Copley High School (math 67% / reading 76%, grade B+, #98 of 781 statewide, top 13%, 947 students, 15% FRL) — zoned schools at 16% FRL track the district average.
• Watch-outs: HOA is 24% of rent.
• Market conditions: 111 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 19y 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.
• Cap rate 4.3% vs local median 2.8% in Fairlawn — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent is only 16% of the median local income ($119k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.