2432 Cadwallader Sonk Rd

Howland Center, OH 44410

$100,800B

5 bd · 1.0 ba · 1,352 sqft · Built 1900 · SingleFamily · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,411/mo
• Mortgage (P&I): −$529
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $423/mo
• Annual: $5,081/yr
• Cap rate: 11.33%
• Cash-on-cash: 18.00%
• DSCR: 1.80
• 1% rule: 1.40%
• Cash to close: $28,224

Investor read

• This is a 5-bed/1.0-bath single-family listed at $101k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• It's been on market 90 days — a 6% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $697 of loan paydown is wiped out by about $3k 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.
• Lakeview Local (suburban): math 76% / reading 76% proficiency, ranked #89 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 70 active listings in the ZIP; 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.
• 3 sale attempts; this cycle's ask has dropped $22k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $101k implies a 101% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.3% vs local median 3.9% 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.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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 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.