2530 Kinsman Rd NE

Cortland, OH 44450

$119,900C-

3 bd · 1.0 ba · 1,040 sqft · Built 1960 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,033/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $20/mo
• Annual: $239/yr
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• 1% rule: 0.86%
• Cash to close: $33,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $20 ($239/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (13.8% below list).
• It's been on market 24 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($829 loan paydown + $4k appreciation (3.5% local appreciation)).
• Location reads 83/100 on livability (#64 in OH, #960 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Maplewood Local (rural): math 83% / reading 81% proficiency, ranked #51 of 656 in OH (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Maplewood Elementary School (math 82% / reading 82%, grade A+, #116 of 1,584 statewide, top 9%, 335 students, 32% FRL); Maplewood High School (math 82% / reading 77%, grade A-, #35 of 781 statewide, top 6%, 276 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 129 units permitted in Trumbull County in 2024 (0 in 5+ unit buildings).
• Trumbull County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.5% vs local median 3.1% in Cortland — 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

• Built in 1960 — 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?
• 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.