188 Paradise Blvd

North Perry, OH 44057

$69,900B

2 bd · 2.0 ba · 938 sqft · Built 2000 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,608/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $787/mo
• Annual: $9,446/yr
• Cap rate: 19.81%
• Cash-on-cash: 48.26%
• DSCR: 3.15
• 1% rule: 2.30%
• Cash to close: $19,572

Investor read

• This is a 2-bed/2.0-bath single-family listed at $70k. Condition is rated fair.
• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 83 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#482 in OH) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools D, health & safety D, amenities F.
• Madison Local (suburban): math 58% / reading 59% proficiency, ranked #308 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 96 active listings in the ZIP; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• Lake 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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: Paint — Some discoloration on siding
• Minor: Landscaping — Some overgrowth