368 Erskine Ave

Youngstown, OH 44512

$99,000C-

2 bd · 1.0 ba · 720 sqft · Built 1949 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $884/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$186
• Net cashflow: $87/mo
• Annual: $1,047/yr
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• 1% rule: 0.89%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (10.7% below list).
• It's been on market 88 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (10.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#99 in OH, #1,506 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Boardman Local (urban): math 63% / reading 71% proficiency, ranked #189 of 656 in OH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.6%/yr); 136 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask is 9109% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $62k; list at $99k implies a 60% gain — meaningful room to come down on a strong offer.
• This rent is only 17% of the median local income ($63k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1949 — 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.
• Crime grade is F 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?
• 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.