10861 Mahoning Ave

Lordstown, OH 44451

$138,000D

3 bd · 1.5 ba · 1,728 sqft · Built 1955 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,022/mo
• Mortgage (P&I): −$724
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $-147/mo
• Annual: $-1,759/yr
• Cap rate: 5.02%
• Cash-on-cash: -4.55%
• DSCR: 0.80
• 1% rule: 0.74%
• Cash to close: $38,640

Investor read

• This is a 3-bed/1.5-bath single-family listed at $138k.
• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (26.0% below list).
• It's been on market 78 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (26.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $954 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#577 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Jackson-Milton Local (rural): math 70% / reading 74% proficiency, ranked #133 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 78 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.