2269 Sherwin Dr

Twinsburg, OH 44087

$264,900D-

3 bd · 1.5 ba · 1,284 sqft · Built 1962 · SingleFamily · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,936/mo
• Mortgage (P&I): −$1,389
• Tax + insurance: −$395
• HOA: −$0
• Vac / Maint / Mgmt: −$407
• Net cashflow: $-254/mo
• Annual: $-3,051/yr
• Cap rate: 5.14%
• Cash-on-cash: -4.11%
• DSCR: 0.82
• 1% rule: 0.73%
• Cash to close: $74,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $265k.
• At list price, monthly cash flow is $-254 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (26.9% below list).
• It's been on market 128 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (26.9% below list) — sets the bar for 1% rule.
• 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 81/100 on livability (#95 in OH, #1,475 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Twinsburg City (suburban): math 67% / reading 75% proficiency, ranked #119 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 67 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $143k; list at $265k implies a 85% gain — meaningful room to come down on a strong offer.
• Cap rate 5.1% vs local median 3.7% in Twinsburg — 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

• 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 128 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.