4287 Manchester Ave NW

North Lawrence, OH 44666

$20,000D+

2 bd · 1.0 ba · 728 sqft · Built 1980 · Other · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $838/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $524/mo
• Annual: $6,283/yr
• Cap rate: 37.71%
• Cash-on-cash: 112.20%
• DSCR: 5.99
• 1% rule: 4.19%
• Cash to close: $5,600

Investor read

• This is a 2-bed/1.0-bath other listed at $20k. Condition is rated fair.
• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $20k).
• It's been on market 34 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#1,133 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime C-, employment D+, amenities F.
• Tuslaw Local (rural): math 78% / reading 73% proficiency, ranked #88 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Tuslaw Elementary School (math 82% / reading 72%, grade A, #221 of 1,584 statewide, top 16%, 479 students, 24% FRL); Tuslaw Middle School (math 82% / reading 75%, grade A+, #58 of 654 statewide, top 9%, 446 students, 28% FRL); Tuslaw High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 324 students, 22% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• This rent is only 10% of the median local income ($101k/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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — The siding appears weathered and may need repainting or minor repairs.
• Minor: landscaping — The landscaping appears overgrown and could benefit from trimming and maintenance.