Vista Plan

Strongsville, OH 44028

$352,990F

2 bd · 2.0 ba · 1,501 sqft · Built — · SingleFamily · Active · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,450/mo
• Mortgage (P&I): −$2,234
• Tax + insurance: −$710
• HOA: −$0
• Vac / Maint / Mgmt: −$514
• Net cashflow: $-1,008/mo
• Annual: $-12,098/yr
• Cap rate: 3.45%
• Cash-on-cash: -10.14%
• DSCR: 0.55
• 1% rule: 0.58%
• Cash to close: $119,266

Investor read

• This is a 2-bed/2.0-bath single-family listed at $353k. Condition is rated excellent.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (30.6% below list).
• It's been on market 184 days — a 12% lower offer ($311k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $245k (30.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#27 in OH, #243 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Columbia Local (rural): math 55% / reading 71% proficiency, ranked #211 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Copopa Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 389 students, 0% FRL); Columbia Middle School (math 56% / reading 72%, grade B+, #221 of 654 statewide, top 35%, 289 students, 50% FRL); Columbia High School (math 27% / reading 72%, grade D, #390 of 781 statewide, top 54%, 260 students, 21% FRL).
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 34% of the median local income ($87k/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?
• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• 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 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.