156 Cambridge Ct

Reynoldsburg, OH 43068

$36,900C-

2 bd · 2.0 ba · 980 sqft · Built 1996 · SingleFamily · Active · 224 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,547/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$62
• HOA: −$690
• Vac / Maint / Mgmt: −$325
• Net cashflow: $277/mo
• Annual: $3,321/yr
• Cap rate: 15.29%
• Cash-on-cash: 32.14%
• DSCR: 2.43
• 1% rule: 4.19%
• Cash to close: $10,332

Investor read

• This is a 2-bed/2.0-bath single-family listed at $37k. Condition is rated fair.
• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $37k).
• It's been on market 224 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $255 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#124 in OH, #1,816 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F.
• Reynoldsburg City (suburban): math 32% / reading 50% proficiency, ranked #519 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 45% of rent.
• Market conditions: Rents rising (+2.0%/yr); 178 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.3% vs local median 4.4% in Reynoldsburg — 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.

Questions for listing agent

• It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn condition
• Moderate: Bathroom fixtures — Worn condition
• Moderate: Exterior siding — Visible signs of wear
• Moderate: Interior walls — Paint chipped in some areas
• Moderate: Windows — Frames show signs of wear
• Moderate: HVAC system — Appears old