11371 Sagebrush Ave NE

Hartville, OH 44685

$240,000D-

3 bd · 2.0 ba · 1,104 sqft · Built 1978 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,723/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$306
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $-203/mo
• Annual: $-2,440/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.63%
• DSCR: 0.84
• 1% rule: 0.72%
• Cash to close: $67,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (28.2% below list).
• It's been on market 37 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (28.2% below list) — sets the bar for 1% rule.
• 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 82/100 on livability (#68 in OH, #1,074 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, commute D, amenities F.
• Lake Local (suburban): math 80% / reading 82% proficiency, ranked #47 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Lake Elementary School (math 85% / reading 80%, grade A+, #106 of 1,584 statewide, top 7%, 1,287 students, 17% FRL); Lake Middle / High School (math 74% / reading 84%, grade A-, #46 of 781 statewide, top 6%, 1,629 students, 14% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 187 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 37 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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 A-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?
• 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.