7744 Brookwood Dr NE

Howland Center, OH 44484

$239,900C

4 bd · 2.0 ba · 2,448 sqft · Built 1977 · MultiFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,481/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$400
• HOA: −$0
• Vac / Maint / Mgmt: −$521
• Net cashflow: $302/mo
• Annual: $3,625/yr
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $67,172

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k. Condition is rated good.
• At list price, monthly cash flow is $302 ($4k/yr) — positive. Per door: $151/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• It's been on market 15 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#207 in OH, #3,283 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Howland Local (suburban): math 59% / reading 65% proficiency, ranked #260 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mines Elementary School (math 67% / reading 58%, grade B, #580 of 1,584 statewide, top 37%, 330 students, 41% FRL); Howland Middle School (math 56% / reading 66%, grade B+, #252 of 654 statewide, top 39%, 766 students, 38% FRL); Howland High School (math 58% / reading 74%, grade B, #155 of 781 statewide, top 20%, 742 students, 38% FRL).
• Market conditions: 90 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 129 units permitted in Trumbull County in 2024 (0 in 5+ unit buildings).
• Trumbull County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 7.8% vs local median 4.4% in Howland Center — 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.
• At $2,481/mo this rent would consume 45% of the median local household income ($65k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1977 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Paint appears faded in some areas