8253 Summit Dr

Bainbridge, OH 44023

$250,000B-

4 bd · 3.0 ba · 1,803 sqft · Built 1948 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,016/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$493
• HOA: −$204
• Vac / Maint / Mgmt: −$633
• Net cashflow: $375/mo
• Annual: $4,495/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• 1% rule: 1.21%
• Cash to close: $70,000

Investor read

• This is a 4-bed/3.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $375 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#546 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Kenston Local (suburban): math 82% / reading 84% proficiency, ranked #24 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Timmons Elementary School (math 92% / reading 77%, grade A+, #68 of 1,584 statewide, top 6%, 798 students, 6% FRL); Kenston Middle School (math 80% / reading 83%, grade A+, #36 of 654 statewide, top 6%, 602 students, 10% FRL); Kenston High School (math 78% / reading 90%, grade A, #17 of 781 statewide, top 2%, 790 students, 7% FRL) — zoned schools at 8% FRL track the district average.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 94 active listings in the ZIP; high-income renter base; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• Cap rate 8.1% vs local median 2.1% in Bainbridge — 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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.