5355 Coventry Park Ln

Medina, OH 44256

$310,000D-

3 bd · 2.5 ba · 1,627 sqft · Built 2004 · SingleFamily · Active · 300 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,010/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$358
• HOA: −$150
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-546/mo
• Annual: $-6,550/yr
• Cap rate: 4.18%
• Cash-on-cash: -7.55%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $86,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $310k.
• At list price, monthly cash flow is $-546 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (35.2% below list).
• It's been on market 300 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (35.2% 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 76/100 on livability (#209 in OH, #3,302 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Medina City SD (suburban): math 70% / reading 74% proficiency, ranked #115 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Sidney Fenn Elementary School (math 77% / reading 77%, grade A, #221 of 1,584 statewide, top 16%, 404 students, 20% FRL); Claggett Middle School (math 64% / reading 69%, grade A-, #172 of 654 statewide, top 27%, 713 students, 22% FRL); Medina High School (math 57% / reading 77%, grade B, #137 of 781 statewide, top 19%, 1,998 students, 14% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 369 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).
• 8 sale attempts since 8y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Cap rate 4.2% vs local median 2.9% in Medina — 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 300 days. Have you received any prior offers? Is the seller open to a 35% 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.