3438 Links Dr

Fairlawn, OH 44333

$399,000D-

3 bd · 2.0 ba · 3,016 sqft · Built 2023 · Townhouse · Active · 203 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,484/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$397
• HOA: −$145
• Vac / Maint / Mgmt: −$522
• Net cashflow: $-673/mo
• Annual: $-8,071/yr
• Cap rate: 4.27%
• Cash-on-cash: -7.22%
• DSCR: 0.68
• 1% rule: 0.62%
• Cash to close: $111,720

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $399k.
• At list price, monthly cash flow is $-673 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (37.7% below list).
• It's been on market 203 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (37.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#11 in OH, #122 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Copley-Fairlawn City (suburban): math 77% / reading 79% proficiency, ranked #58 of 656 in OH (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Fort Island Primary Elementary School (math 87% / reading 77%, grade A+, #116 of 1,584 statewide, top 9%, 376 students, 21% FRL); Copley-Fairlawn Middle School (math 76% / reading 79%, grade A+, #68 of 654 statewide, top 10%, 756 students, 16% FRL); Copley High School (math 67% / reading 76%, grade B+, #98 of 781 statewide, top 13%, 947 students, 15% FRL) — zoned schools at 17% FRL track the district average.
• Market conditions: 111 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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.
• 2 sale attempts; this cycle's ask has dropped $36k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.3% vs local median 2.8% in Fairlawn — 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?
• It's been on market 203 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.