16825 Walnut Creek Dr

Strongsville, OH 44149

$289,900C-

3 bd · 1.5 ba · 1,996 sqft · Built 1978 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,425/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$483
• HOA: −$13
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-101/mo
• Annual: $-1,208/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• 1% rule: 0.84%
• Cash to close: $81,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $290k. Condition is rated good.
• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (16.4% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $242k (16.4% below list) — sets the bar for 1% rule.
• 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 88/100 on livability (#27 in OH, #243 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Strongsville City (suburban): math 73% / reading 79% proficiency, ranked #62 of 656 in OH (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 5.9% vs local median 3.2% in Strongsville — 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

• 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?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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)

• Minor: Kitchen cabinets — Aesthetic update needed.
• Minor: Bathtub and fixtures — Update needed for functionality and appearance.