4908 Chalet Dr

St. Bernard, OH 45217

$84,900F

2 bd · 100.0 ba · 735 sqft · Built — · Condo · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $944/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$142
• HOA: −$325
• Vac / Maint / Mgmt: −$198
• Net cashflow: $-166/mo
• Annual: $-1,988/yr
• Cap rate: 3.95%
• Cash-on-cash: -8.36%
• DSCR: 0.63
• 1% rule: 1.11%
• Cash to close: $23,772

Investor read

• This is a 2-bed/100.0-bath condo listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $85k).
• It's been on market 19 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• St Bernard-Elmwood Place City (suburban): math 36% / reading 48% proficiency, ranked #529 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: St Bernard Elementary School (math 42% / reading 52%, grade D-, #942 of 1,584 statewide, top 61%, 269 students, 74% FRL); St Bernard-Elmwood Place High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 351 students, 74% FRL).
• Watch-outs: HOA is 34% of rent.
• Market conditions: 31 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 3 sale attempts since 17y 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 $46k; list at $85k implies a 83% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• 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?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior paint — Slight discoloration on brick
• Minor: landscaping — Some bushes could be trimmed