330 East St

Springboro, OH 45066

$200,000D

2 bd · 1.0 ba · 1,068 sqft · Built 1927 · SingleFamily · Pending · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$238
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $-253/mo
• Annual: $-3,041/yr
• Cap rate: 4.77%
• Cash-on-cash: -5.43%
• DSCR: 0.76
• 1% rule: 0.65%
• Cash to close: $56,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-253 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (34.6% below list).
• It's been on market 59 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (34.6% 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 81/100 on livability (#93 in OH, #1,395 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Springboro Community City (rural): math 77% / reading 79% proficiency, ranked #42 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Clearcreek Elementary School (917 students, 4% FRL); Springboro Junior High School (math 80% / reading 81%, grade A+, #41 of 654 statewide, top 7%, 928 students, 8% FRL); Springboro High School (math 67% / reading 84%, grade A-, #65 of 781 statewide, top 8%, 1,954 students, 7% FRL) — zoned schools at 6% FRL track the district average.
• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 220 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 4.8% vs local median 3.0% in Springboro — 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 is only 12% of the median local income ($131k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 59 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1927 — 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.
• 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.