2353 W Hale Dr

Hudson, OH 44236

$309,900D

3 bd · 1.5 ba · 1,200 sqft · Built 1960 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,508/mo
• Mortgage (P&I): −$1,625
• Tax + insurance: −$458
• HOA: −$0
• Vac / Maint / Mgmt: −$527
• Net cashflow: $-102/mo
• Annual: $-1,219/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• 1% rule: 0.81%
• Cash to close: $86,772

Investor read

• This is a 3-bed/1.5-bath single-family listed at $310k.
• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (19.1% below list).
• It's been on market 34 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $251k (19.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#20 in OH, #196 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F, cost of living F.
• Hudson City (suburban): math 84% / reading 88% proficiency, ranked #4 of 656 in OH (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Ellsworth Hill Elementary School (663 students, 4% FRL); Hudson Middle School (math 83% / reading 88%, grade A+, #15 of 654 statewide, top 2%, 1,038 students, 4% FRL); Hudson High School (math 71% / reading 89%, grade A, #31 of 781 statewide, top 4%, 1,507 students, 5% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: 95 active listings in the ZIP; high-income renter base; 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.
• 11 sale attempts since 19y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $310k implies a 72% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 2.6% in Hudson — 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.
• This rent is only 18% of the median local income ($169k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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?
• 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.