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Renovations & Updates - 2025-04-16 - 1432 Sara Ave, Akron, OH 44305 - 1432 Sara Ave, Akron, Ohio 44305.docx

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🏠 Investor Report – 1432 Sara Ave, Akron, OH 44305 Generated: April 16, 2025 📍 Property Overview • Address : 1432 Sara Ave, Akron, OH 44305 • Type : Single-Family Home (SFH) • Size : 1,056 sqft • Bedrooms/Bathrooms : 3BD / 1BA • Tenant Status : Vacated on April 4, 2025 • Operating Reserve Balance : $271.66 📊 Financial Overview 🔌 Outstanding Utility Balances (as of March 11, 2024): $679.71 • Dominion Energy: $126.59 • City of Akron Water: $179.87 • FirstEnergy: $294.71 (appears paid in Jan 2025 –

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🏠 Investor Report – 1432 Sara Ave, Akron, OH 44305 Generated: April 16, 2025 📍 Property Overview • Address : 1432 Sara Ave, Akron, OH 44305 • Type : Single-Family Home (SFH) • Size : 1,056 sqft • Bedrooms/Bathrooms : 3BD / 1BA • Tenant Status : Vacated on April 4, 2025 • Operating Reserve Balance : $271.66 📊 Financial Overview 🔌 Outstanding Utility Balances (as of March 11, 2024): $679.71 • Dominion Energy: $126.59 • City of Akron Water: $179.87 • FirstEnergy: $294.71 (appears paid in Jan 2025 – confirm) • Akron Trash Services: $78.54 💵 January 2025 Transactions: • Rent Collected: $900 • Expenses: • Plumbing Repair: $165 • Property Management Fee: $90 • Lawn/Snow Service: $60 • Electric Utility Payment: $294 Net Operating Income (before debt service): ~$291 📄 Loan Overview & History ✅ Active Lending DAO Loan: • Amount : $8,950 • Loan Date : March 26, 2024 • Interest : 15% APR compounded monthly • Maturity : March 26, 2027 • Servicer : Lofty.ai • Repayment Rule : • If Operating Reserve is <50% full, split NOI 50/50 between Reserve & loan • If Reserve ≥50%, all NOI goes to pay down the loan ❌ Canceled Yhome Loan Proposal: • Total Package : $12,881.97 • Breakdown : • Capital Call: $8,213.19 • Taxes: $1,186.38 (unpaid) • Insurance: $512.40 (this premium is from Jan 2023-2024 – confirm) • Yhome /Loan/PM Fees: $2,970.38 ( 23% loan fee ) • Interest Rate : Increased from promised 6% to 6.99% • Status : Loan canceled by investors due to fee inflation and poor transparency • Note : Formal cancellation documentation should be requested if not already provided. 🔢 Known & Necessary Upfront Costs Item Estimated Cost Notes Unpaid Utilities $679.71 Dominion ($126.59), Water ($179.87), Trash ($78.54), FirstEnergy ($294.71) Property Taxes (likely unpaid) ~$1,186.38 From Yhome letter — verify with Summit County Landlord Insurance ~$500–600 New annual policy via Steadily or Obie Hemlane Onboarding & PM Fee $48 (first month) Hemlane Essential (monthly) Tenant Placement Add-On $695 Hemlane’s tenant placement w/ lockbox Eviction Shield Add-On $4.95 Optional, low cost Inspection Add-On $300 One-time for make-ready inspection Operating Reserve Refill (50%) ~$271.34 To bring reserve back to 50% ($543.00 target) 🧮 Total Minimum Capital Call (Before Repairs): $679.71 (utilities) • $1,186.38 (taxes) • $550 (insurance estimate) • $48 (PM fee) • $695 (leasing) • $4.95 (Eviction Shield) • $300 (inspection) • $271.34 (Operating Reserve refill) = ✅ $3,735.38 🔐 Recommended Buffer: Round up to $4,000 Why? Even though $3,735 is your minimum , rounding up to $4,000 : • Gives you room for any small turnover repairs discovered during inspection • Keeps accounting cleaner when requesting capital from the DAO • Allows for quick action without triggering a second capital call 📝 Suggested Capital Call Capital Call Request: $4,000 To cover unpaid utilities, overdue taxes, insurance rebind, Hemlane onboarding, tenant placement, inspection, and restoring the Operating Reserve to 50%. This capital call is required to make the property rent-ready and avoid further vacancy-related losses. ✅ Recommended Action Plan for Property Manager (PM) 1. Clear any remaining utility balances. 2. Re-key the property and perform full inspection. 3. Schedule deep cleaning and minor turnover repairs. 4. Take new listing photos and prepare marketing materials. 5. Rebuild the Operating Reserve to at least $543.00 (50% target): • Direct 50% of monthly NOI to Reserve until threshold is met. 6. Begin loan repayment using waterfall logic after Reserve is 50% funded. 7. Onboard a sub-property manager to streamline leasing and reduce vacancy. 🧮 Final Cost Comparison – Nomad vs. Hemlane Essential + Add-Ons Market Rent: $1,050/month Annual Gross Rent: $12,600 ✅ Nomad Lease • PM Fee : 4% = $42/month → $504/year • Leasing Fee : $1,000 (one-time) • Onboarding Fee : $99 • Total Year 1 Cost : $1,603 ✅ Hemlane Essential ($48/ mo ) + Add-Ons • Base Subscription : $48/month = $576/year • Tenant Placement : $695 (one-time, includes lockbox) • Eviction Shield : $4.95/month = $59.40/year • Inspection : $300 (on-demand, assumed once for make-ready) Total Year 1 Cost : ✅ $576 + $695 + $59.40 + $300 = $1,630.40 🔄 Year 2+ Ongoing Cost (no inspection or leasing) • Nomad : $504/year • Hemlane : $576 (Essential) + $59.40 (Eviction Shield) = $635.40/year 🔍 Final Analysis Factor Nomad Hemlane Essential + Add-Ons Year 1 Cost $1,603 $1,630.40 Year 2+ Cost ~$504 ~$635.40 Tenant Placement Included $695 (higher quality, more control) Repair Coordination ✅ 24/7 handled ✅ 24/7 handled by coordinator Inspections Included $300/on-demand Eviction Support Included Optional ($4.95/ mo ) Customization Minimal High (you choose add-ons) Multi-Property Scaling ❌ Limited ✅ Already integrated portfolio-wide 🏁 Final Recommendation Since you’re already on Hemlane Essential and using their infrastructure for other properties, it’s smarter to stay consolidated and use Hemlane : • You retain a single interface , full transparency, and custom control over leasing and inspections • NOI difference is minimal compared to Nomad, and you gain better service customization • You avoid duplicated systems and contracts If you’re okay with a $27 premium in Year 1 , you get more control and full-stack support — while staying hands-off.