4450 7th St NW

Reedurban, OH 44708

$109,000C+

3 bd · 1.0 ba · 1,152 sqft · Built 1954 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,093/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $138/mo
• Annual: $1,650/yr
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• 1% rule: 1.00%
• Cash to close: $30,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $109k.
• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Perry Local (suburban): math 63% / reading 73% proficiency, ranked #173 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.7%/yr); 122 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 29y 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 $74k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1954 — 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.
• 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.