Wembley Plan

Cincinnati, OH 45245

$298,900F

2 bd · 2.0 ba · 1,247 sqft · Built — · Townhouse · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,245/mo
• Mortgage (P&I): −$1,644
• Tax + insurance: −$522
• HOA: −$250
• Vac / Maint / Mgmt: −$471
• Net cashflow: $-643/mo
• Annual: $-7,714/yr
• Cap rate: 3.83%
• Cash-on-cash: -8.79%
• DSCR: 0.61
• 1% rule: 0.72%
• Cash to close: $87,760

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $299k. Condition is rated excellent.
• At list price, monthly cash flow is $-643 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (24.9% below list).
• It's been on market 131 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (26.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#130 in OH, #1,856 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Cincinnati Public Schools (urban): math 25% / reading 36% proficiency, ranked #581 of 656 in OH (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sands Montessori School (math 70% / reading 77%, grade A, #311 of 1,584 statewide, top 20%, 683 students, 22% FRL); Hartwell School (math 17% / reading 31%, grade F, #593 of 654 statewide, top 91%, 447 students, 0% FRL); Walnut Hills High School (math 79% / reading 89%, grade A, #17 of 781 statewide, top 2%, 2,582 students, 14% FRL) — zoned schools average 12% FRL vs 70% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 60% at this address vs 30% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Cincinnati Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 96 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 34% of the median local income ($80k/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?
• It's been on market 131 days. Have you received any prior offers? Is the seller open to a 26% 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?
• 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 B-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?
• 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?