753 Mineral Springs Ave

Youngstown, OH 44511

$170,000F

3 bd · 2.0 ba · 1,409 sqft · Built 2025 · Land · Pending · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,235/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $-199/mo
• Annual: $-2,390/yr
• Cap rate: 4.89%
• Cash-on-cash: -5.02%
• DSCR: 0.78
• 1% rule: 0.73%
• Cash to close: $47,600

Investor read

• This is a 3-bed/2.0-bath land listed at $170k.
• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (27.3% below list).
• It's been on market 142 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (27.3% below list) — sets the bar for 1% rule.
• 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 81/100 on livability (#99 in OH, #1,506 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Youngstown City (urban): math 8% / reading 17% proficiency, ranked #649 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 4.9% vs local median 7.0% in Youngstown — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 142 days. Have you received any prior offers? Is the seller open to a 27% 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.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.