4995 Parkman Rd NW

Warren, OH 44481

$299,000D

3 bd · 1.0 ba · 3,408 sqft · Built 1950 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,313/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$382
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $-913/mo
• Annual: $-10,953/yr
• Cap rate: 2.63%
• Cash-on-cash: -13.08%
• DSCR: 0.42
• 1% rule: 0.44%
• Cash to close: $83,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $-913 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (53.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (56.1% below list).
• It's been on market 39 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (56.1% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 73/100 on livability (#312 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D-, commute F, employment F.
• Labrae Local (suburban): math 56% / reading 65% proficiency, ranked #288 of 656 in OH (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bascom Elementary School (234 students, 69% FRL); Labrae Middle School (math 51% / reading 63%, grade B, #305 of 654 statewide, top 48%, 249 students, 57% FRL); Labrae High School (math 57% / reading 72%, grade B-, #164 of 781 statewide, top 24%, 316 students, 40% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 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.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $208k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.6% vs local median 5.9% in Warren — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 39 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.