8323 Eagle Rd #45

Kirtland, OH 44094

$113,434B-

3 bd · 2.0 ba · 1,067 sqft · Built — · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,666/mo
• Mortgage (P&I): −$595
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$350
• Net cashflow: $532/mo
• Annual: $6,386/yr
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• 1% rule: 1.47%
• Cash to close: $31,762

Investor read

• This is a 3-bed/2.0-bath single-family listed at $113k. Condition is rated poor.
• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $784 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#109 in OH, #1,647 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Kirtland Local (suburban): math 73% / reading 80% proficiency, ranked #57 of 656 in OH (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Kirtland Elementary School (math 80% / reading 83%, grade A+, #149 of 1,584 statewide, top 10%, 487 students, 9% FRL); Kirtland Middle School (math 69% / reading 74%, grade A, #122 of 654 statewide, top 19%, 264 students, 7% FRL); Kirtland High School (math 72% / reading 87%, grade A-, #35 of 781 statewide, top 6%, 369 students, 6% FRL) — zoned schools at 7% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 190 active listings in the ZIP; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 11.9% vs local median 3.2% in Kirtland — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent image shows significant damage to the roof.
• Major: exterior siding — The independent image shows extensive damage to the siding.
• Major: paint — The independent image shows peeling paint on the exterior and interior walls.
• Major: HVAC unit — The independent image shows an old and rusted HVAC unit.
• Major: landscaping — The independent image shows overgrown grass and weeds.