1420 Howe Dr

Brimfield, OH 44240

$99,000B

3 bd · 1.0 ba · 1,639 sqft · Built 1950 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,479/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$251
• HOA: −$0
• Vac / Maint / Mgmt: −$521
• Net cashflow: $1,188/mo
• Annual: $14,258/yr
• Cap rate: 20.69%
• Cash-on-cash: 51.43%
• DSCR: 3.29
• 1% rule: 2.50%
• Cash to close: $27,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#584 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Field Local (rural): math 65% / reading 66% proficiency, ranked #198 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Brimfield Elementary School (math 69% / reading 62%, grade B+, #510 of 1,584 statewide, top 32%, 528 students, 38% FRL); Field Middle School (math 66% / reading 63%, grade A-, #205 of 654 statewide, top 34%, 444 students, 31% FRL); Field High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 524 students, 24% FRL) — zoned schools at 31% FRL track the district average.
• Watch-outs: property tax is 2.5% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.8%/yr); 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• At $2,479/mo this rent would consume 52% of the median local household income ($58k/yr) (locally 2634% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.