2371 Greensburg Rd

Green, OH 44720

$150,000D-

1 bd · 1.5 ba · 862 sqft · Built 1927 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,166/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-101/mo
• Annual: $-1,209/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• 1% rule: 0.78%
• Cash to close: $42,000

Investor read

• This is a 1-bed/1.5-bath single-family listed at $150k.
• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (22.3% below list).
• It's been on market 31 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (22.3% 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 $4k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#31 in OH, #281 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, cost of living A+; Watch: commute F.
• Green Local (suburban): math 75% / reading 74% proficiency, ranked #90 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Green Primary School (math 79% / reading 72%, grade A, #257 of 1,584 statewide, top 17%, 849 students, 23% FRL); Green Intermediate Elementary School (math 79% / reading 76%, grade A+, #68 of 654 statewide, top 10%, 912 students, 23% FRL); Green High School (math 65% / reading 74%, grade B, #106 of 781 statewide, top 16%, 1,313 students, 19% FRL) — zoned schools at 22% FRL track the district average.
• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 228 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 33y 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 $75k; list at $150k implies a 100% gain — meaningful room to come down on a strong offer.
• Cap rate 5.5% vs local median 2.6% in Green — 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 is only 17% of the median local income ($83k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 31 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1927 — 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?
• 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.
• 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.