8446 Highridge Dr

Mason, OH 45069

$360,000D

4 bd · 2.5 ba · 1,754 sqft · Built 1987 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,887/mo
• Mortgage (P&I): −$1,888
• Tax + insurance: −$513
• HOA: −$0
• Vac / Maint / Mgmt: −$606
• Net cashflow: $-120/mo
• Annual: $-1,437/yr
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• 1% rule: 0.80%
• Cash to close: $100,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $360k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (19.8% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $289k (19.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#43 in OH, #590 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, commute F.
• Lakota Local (suburban): math 68% / reading 72% proficiency, ranked #107 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Hopewell Early Childhood School (728 students, 26% FRL); Hopewell Junior School (math 61% / reading 68%, grade A-, #205 of 654 statewide, top 34%, 506 students, 25% FRL); Lakota East High School (math 58% / reading 78%, grade B, #133 of 781 statewide, top 17%, 2,552 students, 15% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 119 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• 2 sale attempts 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 $101k; list at $360k implies a 256% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 3.2% in Mason — 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.
• This rent runs 30% of the median local income ($115k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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?
• 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.