10116 Ronnie Rd

Woodlawn, OH 45215

$210,000C-

3 bd · 1.0 ba · 1,233 sqft · Built 1953 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,855/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$315
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $49/mo
• Annual: $593/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• 1% rule: 0.88%
• Cash to close: $58,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $49 ($593/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (11.7% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $185k (11.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#238 in OH, #3,792 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F.
• Princeton City (suburban): math 34% / reading 43% proficiency, ranked #542 of 656 in OH (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Community Middle School (math 28% / reading 38%, grade F, #553 of 654 statewide, top 85%, 1,290 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.0%/yr); 47 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 5 sale attempts since 26y 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 $134k; list at $210k implies a 57% gain — meaningful room to come down on a strong offer.
• This rent runs 32% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.