4839 Arlington Rd

Green, OH 44720

$339,900B

9 bd · 4.5 ba · 3,784 sqft · Built 1979 · MultiFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,026/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$722
• HOA: −$0
• Vac / Maint / Mgmt: −$1,055
• Net cashflow: $1,467/mo
• Annual: $17,599/yr
• Cap rate: 11.47%
• Cash-on-cash: 18.49%
• DSCR: 1.82
• 1% rule: 1.48%
• Cash to close: $95,172

Investor read

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $340k.
• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $489/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• It's been on market 41 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $330k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#31 in OH, #281 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, employment A+; Watch: commute F.
• Green Local (suburban): math 75% / reading 74% proficiency, ranked #90 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 227 active listings in the ZIP; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; list at $340k implies a 70% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $95k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 11.5% vs local median 2.6% in Green — 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.
• At $5,026/mo this rent would consume 73% of the median local household income ($83k/yr) (locally 1068% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1979 — 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?
• 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.