620 Topaz Ln

Brunswick, OH 44212

$185,000C-

2 bd · 2.5 ba · 1,420 sqft · Built 1991 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,782/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$323
• HOA: −$150
• Vac / Maint / Mgmt: −$374
• Net cashflow: $-35/mo
• Annual: $-420/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• 1% rule: 0.96%
• Cash to close: $51,800

Investor read

• This is a 2-bed/2.5-bath single-family listed at $185k.
• At list price, monthly cash flow is $-35 ($-420/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (3.6% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $178k (3.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#135 in OH, #1,940 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, health & safety D, commute F.
• Brunswick City (suburban): math 62% / reading 71% proficiency, ranked #172 of 656 in OH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Brunswick Memorial Elementary School (math 62% / reading 62%, grade B, #590 of 1,584 statewide, top 41%, 376 students, 24% FRL); Brunswick Middle School (math 61% / reading 72%, grade A-, #172 of 654 statewide, top 27%, 1,460 students, 20% FRL); Brunswick High School (math 49% / reading 74%, grade B-, #231 of 781 statewide, top 30%, 1,988 students, 18% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 180 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).
• 6 sale attempts since 29y 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.
• Current owner paid $107k; list at $185k implies a 73% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 2.8% in Brunswick — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.