9905 Regatta Dr #304 · Dry Ridge, OH 45252

$169,500

2 bd · 2.0 ba · 1,109 sqft · Condo · 93 Days on market

Built 1994 Good condition $257/mo HOA · 13% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.0/10.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled top level Condo Flat at the Yacht Club in Colerain Twp. with Vaulted Ceilings, Outside Covered Deck, Fireplace, with all new Flooring, Baseboard, Fixtures, Toilets, Cabinet & Door Hardware, Granite Countertops & Hearthstone, Ceiling Fans/Lights, added Accent and Task Lighting. All appliances (and Central AC system) are included and are less than 5 years old. Condo association maintains all building exterior and grounds. Condo members can enjoy Swimming Pool, Tennis Court, Lakes.

Key facts

• Updated kitchen
• Granite countertops
• Brand-new appliances

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• WHITE CABINETRY
• BRAND-NEW APPLIANCES
• PRIVATE EN SUITE BATHROOM
• LOW-MAINTENANCE LIVING

Property features AI

Finance

• HOA & community: HOA present with a monthly fee of $257; HOA covers exterior maintenance, pool, and tennis facilities

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric water heater; Electric power
• Home design: Traditional style; One level; Unit entry level: 2
• Construction: Poured foundation
• Exterior features: Shingle roof; Double-pane windows; Brick exterior

Interior

• Kitchen: Pantry; Counter bar; Tile floor; Wood cabinets; Marble/Granite/Slate countertops; Dishwasher; Garbage disposal; Microwave; Oven/Range; Refrigerator
• Bedrooms: Two bedrooms total; Primary bedroom approximately 18 x 17 (level 1); Second bedroom approximately 14 x 12 (level 1)
• Flooring: Laminate flooring in dining and living areas; Tile flooring in kitchen; Laminate in foyer
• Bathrooms: Two full bathrooms; One full bath on level 1; One full bath on entry level
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral ceiling; Fireplace; Walkout; Ceiling fan
• Laundry & utility: Laundry room (approx. 8 x 5) with washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#625 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, amenities F, commute F.
• Northwest Local (suburban): math 38% / reading 46% proficiency, ranked #508 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $29k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $154,245 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-16,107
• Equity at exit: $25,273

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,124
• Equity at exit: $14,655

Cash invested: $47,460 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45252

• Home prices YoY: -26.9%
• Active inventory: 11
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,030 medium
• Mortgage (P&I): −$889
• Tax est. 1.5%: −$212 /mo · $2,542/yr
• Insurance: −$71
• HOA: −$257
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $175

Break-even live

Break-even rent $1,808

Max offer price $169,500

Occupancy floor 86%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9939 Voyager Way Cincinnati, OH	3.0	2.0	1400	$2,300	$1.64	43d	1	0.22mi
3683 Ripplegrove Dr Cincinnati, OH	3.0	1.5	1395	$1,931	$1.38	20d	1	0.96mi
10101 Arborwood Dr Cincinnati, OH	1.0–3.0	1.0–1.5	912	$1,336	$1.46	1d	26	1.26mi
9333 Round Top Cincinnati, OH	1.0–3.0	1.0–2.0	979	$1,375	$1.40	2d	3	1.38mi

HOA detail condo

• Monthly dues: $257 · $3,084/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $169,500 Active 93 DOM
2. 2026-06-17
   days on market $169,500 Active 92 DOM
3. 2026-06-17
   status $169,500 Active 91 DOM
4. 2026-06-16
   days on market $169,500 Contingency Pending 91 DOM
5. 2026-06-15
   days on market $169,500 Contingency Pending 90 DOM
6. 2026-06-13
   days on market $169,500 Contingency Pending 88 DOM
7. 2026-06-12
   days on market $169,500 Contingency Pending 87 DOM
8. 2026-06-09
   days on market $169,500 Contingency Pending 84 DOM
9. 2026-06-08
   days on market $169,500 Contingency Pending 83 DOM
10. 2026-06-08
    days on market $169,500 Contingency Pending 82 DOM
11. 2026-06-07
    days on market $169,500 Contingency Pending 81 DOM
12. 2026-06-04
    days on market $169,500 Contingency Pending 78 DOM
13. 2026-06-02
    days on market $169,500 Contingency Pending 77 DOM
14. 2026-06-01
    status $169,500 Contingency Pending 76 DOM
15. 2026-06-01
    days on market $169,500 Active 76 DOM
16. 2026-05-31
    days on market $169,500 Active 75 DOM
17. 2026-05-13
    price $183,000
18. 2026-03-30
    price $188,000
19. 2026-03-17
    listed $198,500 Active
20. 2021-09-15
    soldstatus $152,000 Sold 501-char remark

    Show marketing remark (501 chars)

    Remodeled top level Condo Flat at the Yacht Club in Colerain Twp. with Vaulted Ceilings, Outside Covered Deck, Fireplace, with all new Flooring, Baseboard, Fixtures, Toilets, Cabinet & Door Hardware, Granite Countertops & Hearthstone, Ceiling Fans/Lights, added Accent and Task Lighting. All appliances (and Central AC system) are included and are less than 5 years old. Condo association maintains all building exterior and grounds. Condo members can enjoy Swimming Pool, Tennis Court, Lakes.

21. 2021-08-10
    historical Contingency Pending 501-char remark

    Show marketing remark (501 chars)

    Remodeled top level Condo Flat at the Yacht Club in Colerain Twp. with Vaulted Ceilings, Outside Covered Deck, Fireplace, with all new Flooring, Baseboard, Fixtures, Toilets, Cabinet & Door Hardware, Granite Countertops & Hearthstone, Ceiling Fans/Lights, added Accent and Task Lighting. All appliances (and Central AC system) are included and are less than 5 years old. Condo association maintains all building exterior and grounds. Condo members can enjoy Swimming Pool, Tennis Court, Lakes.

22. 2021-08-09
    listed $146,500 Active 501-char remark

    Show marketing remark (501 chars)

    Remodeled top level Condo Flat at the Yacht Club in Colerain Twp. with Vaulted Ceilings, Outside Covered Deck, Fireplace, with all new Flooring, Baseboard, Fixtures, Toilets, Cabinet & Door Hardware, Granite Countertops & Hearthstone, Ceiling Fans/Lights, added Accent and Task Lighting. All appliances (and Central AC system) are included and are less than 5 years old. Condo association maintains all building exterior and grounds. Condo members can enjoy Swimming Pool, Tennis Court, Lakes.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,361
• − Mortgage interest: −$9,495
• − Property taxes: −$2,542
• − Insurance: −$848
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − HOA: −$3,084
• − Depreciation: −$4,931
• Taxable loss: −$436
• Est. tax savings @ 24.0%: +$105
• After-tax cash flow: $2,209/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready condo is in good condition with updated kitchen and bathrooms, and a well-maintained exterior. Minor updates to the interior walls and ceiling fans would further enhance its appeal.

Value-add opportunities

• Both paint interior walls — neutral paint may not appeal to all buyers
• Both replace ceiling fans — modern ceiling fans improve aesthetics and energy efficiency
• Both install smart home devices — smart home devices can increase home's value and appeal to tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — neutral paint may not appeal to all buyers ↑
• Both replace ceiling fans — modern ceiling fans improve aesthetics and energy efficiency ↑
• Both install smart home devices — smart home devices can increase home's value and appeal to tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northwest Local
• NCES district ID: 3904736
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $58,765
• Composite: 36.97/100
• National rank: #4528
• State rank: #508 of 656 in OH

Livability — Dry Ridge

• Score: 67/100
• State rank: #625
• US rank: #10942

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dry Ridge, OH
• County: Hamilton · 838,887 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 4,941
• Household income: $96,750
• Rent vs Own: 6.2% rent · 93.8% own

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 15% Two or more races 4%
• Common ancestry: Estonian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Indo-European 1%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.16%
• Current HPI: 207.2523
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+24.9% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $183,000 Cincy MLS
• 2026-03-30 Price Changed $188,000 Cincy MLS
• 2026-03-17 Listed $198,500 Cincy MLS
• 2021-09-15 Sold (MLS) $152,000 Cincy MLS
• 2021-08-10 Contingent — Cincy MLS
• 2021-08-09 Listed $146,500 Cincy MLS