166 Huntington Dr

Northfield, OH 44067

$219,900D-

3 bd · 1.0 ba · 960 sqft · Built 1960 · SingleFamily · Pending · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,679/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $-71/mo
• Annual: $-847/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 0.76%
• Cash to close: $61,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-71 ($-847/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (23.6% below list).
• It's been on market 56 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (23.6% 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 $7k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#143 in OH, #2,208 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Nordonia Hills City (suburban): math 72% / reading 79% proficiency, ranked #71 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $160k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 56 days. Have you received any prior offers? Is the seller open to a 24% 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.