133 Parkway St

Struthers, OH 44471

$144,500C+

4 bd · 2.5 ba · 2,240 sqft · Built 1910 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$758
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $228/mo
• Annual: $2,740/yr
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• 1% rule: 0.98%
• Cash to close: $40,460

Investor read

• This is a 4-bed/2.5-bath single-family listed at $144k.
• At list price, monthly cash flow is $228 ($3k/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 $141k (2.4% below list).
• It's been on market 22 days — a 2% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (2.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $999 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#418 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: commute C-, amenities F, employment F.
• Struthers City (suburban): math 45% / reading 52% proficiency, ranked #475 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Struthers Elementary School (math 57% / reading 39%, grade D, #941 of 1,584 statewide, top 59%, 654 students, 0% FRL); Struthers Middle School (math 43% / reading 58%, grade C, #413 of 654 statewide, top 63%, 545 students, 72% FRL); Struthers High School (math 27% / reading 52%, grade F, #528 of 781 statewide, top 71%, 465 students, 74% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 20y 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 $39k; list at $144k implies a 271% gain — meaningful room to come down on a strong offer.
• Cap rate 8.2% vs local median 6.4% in Struthers — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 32% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1910 — 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 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.