13268 Shady Ln

Chesterland, OH 44026

$184,900A-

2 bd · 1.0 ba · 864 sqft · Built 1952 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,847/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$289
• HOA: −$0
• Vac / Maint / Mgmt: −$598
• Net cashflow: $991/mo
• Annual: $11,887/yr
• Cap rate: 12.72%
• Cash-on-cash: 22.96%
• DSCR: 2.02
• 1% rule: 1.54%
• Cash to close: $51,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• It's been on market 54 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• 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 84/100 on livability (#58 in OH, #835 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• West Geauga Local (rural): math 83% / reading 86% proficiency, ranked #28 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: Robert C Lindsey Elementary School (math 92% / reading 88%, grade A+, #19 of 1,584 statewide, top 1%, 461 students, 10% FRL); West Geauga Middle School (math 80% / reading 82%, grade A+, #38 of 654 statewide, top 6%, 491 students, 10% FRL); West Geauga High School (math 67% / reading 92%, grade A-, #35 of 781 statewide, top 6%, 693 students, 8% FRL) — zoned schools at 10% FRL track the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; solid renter incomes; 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.
• Current owner paid $75k; list at $185k implies a 147% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.7% vs local median 4.8% in Chesterland — 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.
• This rent runs 32% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.