Pine Plan

Kent, OH 44240

$249,990D

3 bd · 2.0 ba · 1,498 sqft · Built — · Townhouse · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,079/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$417
• HOA: −$0
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-85/mo
• Annual: $-1,025/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.93
• 1% rule: 0.83%
• Cash to close: $69,997

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $250k. Condition is rated excellent.
• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (16.8% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $208k (16.8% 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 $8k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#13 in OH, #129 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Field Local (rural): math 65% / reading 66% proficiency, ranked #198 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Brimfield Elementary School (math 69% / reading 62%, grade B+, #510 of 1,584 statewide, top 32%, 528 students, 38% FRL); Field Middle School (math 66% / reading 63%, grade A-, #205 of 654 statewide, top 34%, 444 students, 31% FRL); Field High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 524 students, 24% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• Cap rate 5.9% vs local median 4.1% in Kent — 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 runs 43% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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.
• 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.