4748-4752 Sunnyside Dr

Stow, OH 44224

$299,900A-

4 bd · 3.0 ba · 2,036 sqft · Built 1971 · MultiFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,388/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$1,131
• Net cashflow: $2,206/mo
• Annual: $26,476/yr
• Cap rate: 15.12%
• Cash-on-cash: 31.53%
• DSCR: 2.40
• 1% rule: 1.80%
• Cash to close: $83,972

Investor read

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $300k.
• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $735/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#217 in OH, #3,390 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Stow-Munroe Falls City School District (suburban): math 58% / reading 64% proficiency, ranked #247 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.6%/yr); 113 active listings in the ZIP; solid renter incomes; 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.
• Current owner paid $184k; list at $300k implies a 63% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.1% vs local median 3.5% in Stow — 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.
• At $5,388/mo this rent would consume 69% of the median local household income ($94k/yr) (locally 1165% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1971 — 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.