6371 River Styx Rd

Medina, OH 44256

$300,000D-

2 bd · 1.5 ba · 1,436 sqft · Built 1949 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,677/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$449
• HOA: −$0
• Vac / Maint / Mgmt: −$352
• Net cashflow: $-698/mo
• Annual: $-8,374/yr
• Cap rate: 3.50%
• Cash-on-cash: -9.97%
• DSCR: 0.56
• 1% rule: 0.56%
• Cash to close: $84,000

Investor read

• This is a 2-bed/1.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $-698 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (41.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (44.1% below list).
• It's been on market 34 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (44.1% 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 $9k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#209 in OH, #3,302 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Medina City SD (suburban): math 70% / reading 74% proficiency, ranked #115 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.2%/yr); 360 active listings in the ZIP; solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 3.5% vs local median 2.9% in Medina — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 34 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1949 — 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.