1275 Norton Ave Unit H4

Norton, OH 44203

$55,000B+

2 bd · 2.0 ba · 784 sqft · Built 2025 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,268/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $622/mo
• Annual: $7,461/yr
• Cap rate: 19.86%
• Cash-on-cash: 48.45%
• DSCR: 3.16
• 1% rule: 2.31%
• Cash to close: $15,400

Investor read

• This is a 2-bed/2.0-bath single-family listed at $55k. Condition is rated excellent.
• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 102 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#118 in OH, #1,738 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Norton City (suburban): math 68% / reading 69% proficiency, ranked #152 of 656 in OH (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Norton Elementary School (math 83% / reading 74%, grade A, #200 of 1,584 statewide, top 13%, 621 students, 35% FRL); Norton Middle School (math 64% / reading 65%, grade A-, #205 of 654 statewide, top 34%, 657 students, 38% FRL); Norton High School (math 57% / reading 72%, grade B-, #164 of 781 statewide, top 24%, 784 students, 26% FRL).
• Market conditions: Rents rising fast (+5.9%/yr); 226 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.9% vs local median 3.2% in Norton — 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

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% 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.
• 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.