7816 Betsy Ross Cir #7816

Centerville, OH 45459

$154,000D

2 bd · 1.5 ba · 1,024 sqft · Built 1981 · Condo · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,457/mo
• Mortgage (P&I): −$808
• Tax + insurance: −$253
• HOA: −$175
• Vac / Maint / Mgmt: −$306
• Net cashflow: $-84/mo
• Annual: $-1,011/yr
• Cap rate: 5.64%
• Cash-on-cash: -2.35%
• DSCR: 0.90
• 1% rule: 0.95%
• Cash to close: $43,120

Investor read

• This is a 2-bed/1.5-bath condo listed at $154k.
• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (5.4% below list).
• It's been on market 154 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 85/100 on livability (#45 in OH, #604 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Centerville City (suburban): math 62% / reading 71% proficiency, ranked #163 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Centerville Primary Village North (607 students, 18% FRL); Hadley E Watts Middle School (math 58% / reading 73%, grade A-, #186 of 654 statewide, top 29%, 687 students, 16% FRL); Centerville High School (math 60% / reading 84%, grade B+, #89 of 781 statewide, top 12%, 2,755 students, 15% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 119 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 14y 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.
• Cap rate 5.6% vs local median 2.9% in Centerville — 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

• 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 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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?