1088 Buena Vista Dr

Green, OH 44319

$370,000C-

6 bd · 4.0 ba · 3,106 sqft · Built 1991 · MultiFamily · Pending · 285 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,764/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$658
• HOA: −$0
• Vac / Maint / Mgmt: −$790
• Net cashflow: $375/mo
• Annual: $4,501/yr
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• 1% rule: 1.02%
• Cash to close: $103,600

Investor read

• This is a 2 × 2.0-bed/2.5-bath units multifamily listed at $370k.
• At list price, monthly cash flow is $375 ($5k/yr) — positive. Per door: $188/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• It's been on market 285 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $326k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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.
• Springfield Local (suburban): math 40% / reading 46% proficiency, ranked #512 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 90 active listings in the ZIP; 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.
• 4 sale attempts since 12y 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 $158k; list at $370k implies a 133% gain — meaningful room to come down on a strong offer.
• Cap rate 7.5% 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 $3,764/mo this rent would consume 60% of the median local household income ($75k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 285 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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.
• 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.