832 Harold St

Kent, OH 44240

$244,999D+

4 bd · 2.0 ba · 1,683 sqft · Built 1961 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,109/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$385
• HOA: −$0
• Vac / Maint / Mgmt: −$443
• Net cashflow: $-4/mo
• Annual: $-42/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• 1% rule: 0.86%
• Cash to close: $68,600

Investor read

• This is a 4-bed/2.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $-4 ($-42/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (13.9% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $211k (13.9% 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 $7k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#13 in OH, #129 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Kent City (suburban): math 46% / reading 58% proficiency, ranked #433 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Davey Elementary School (math 52% / reading 57%, grade C, #788 of 1,584 statewide, top 52%, 438 students, 43% FRL); Stanton Middle School (math 43% / reading 55%, grade C-, #426 of 654 statewide, top 66%, 660 students, 46% FRL); Theodore Roosevelt High School (math 47% / reading 71%, grade C+, #262 of 781 statewide, top 34%, 1,245 students, 26% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• 2 sale attempts since 6y 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.
• Cap rate 6.3% vs local median 4.1% in Kent — 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.
• This rent runs 44% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1961 — 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?
• 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.
• 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.