7610 State Rte 44

Ravenna, OH 44266

$134,000C

3 bd · 1.0 ba · 1,200 sqft · Built 1942 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,383/mo
• Mortgage (P&I): −$703
• Tax + insurance: −$249
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $141/mo
• Annual: $1,697/yr
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• 1% rule: 1.03%
• Cash to close: $37,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $134k.
• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $134k).
• It's been on market 26 days — a 2% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Ravenna City (suburban): math 31% / reading 41% proficiency, ranked #559 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 159 active listings in the ZIP; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• Current owner paid $72k; list at $134k implies a 87% gain — meaningful room to come down on a strong offer.
• Cap rate 7.6% vs local median 3.0% in Ravenna — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1942 — 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.
• 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.