1706 31st St NW

Canton, OH 44709

$99,900D

2 bd · 1.0 ba · 680 sqft · Built 1941 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $861/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $73/mo
• Annual: $877/yr
• Cap rate: 7.17%
• Cash-on-cash: 3.13%
• DSCR: 1.14
• 1% rule: 0.86%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $73 ($877/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 $86k (13.8% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $86k (13.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#441 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: crime F, employment F.
• Plain Local (suburban): math 61% / reading 69% proficiency, ranked #216 of 656 in OH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Avondale Elementary School (math 87% / reading 82%, grade A+, #68 of 1,584 statewide, top 6%, 257 students, 47% FRL); Oakwood Middle School (math 58% / reading 66%, grade B+, #242 of 654 statewide, top 38%, 940 students, 43% FRL); Glenoak High School (math 29% / reading 69%, grade D, #422 of 781 statewide, top 54%, 2,067 students, 37% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.9%/yr); 75 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 28y 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 $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.2% vs local median 4.9% in Canton — 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 18% of the median local income ($58k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1941 — 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.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.