134 Harmon Ave NE

Brewster, OH 44613

$39,900B+

1 bd · 1.0 ba · 566 sqft · Built 1915 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,017/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $548/mo
• Annual: $6,582/yr
• Cap rate: 22.79%
• Cash-on-cash: 58.91%
• DSCR: 3.62
• 1% rule: 2.55%
• Cash to close: $11,172

Investor read

• This is a 1-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $548 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $482 of equity ($276 loan paydown + $206 appreciation (0.5% local appreciation)).
• Location reads 65/100 on livability (#742 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Fairless Local (rural): math 56% / reading 55% proficiency, ranked #365 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 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.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1915 — 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 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.