1358 Hanes Rd

Beavercreek, OH 45434

$224,900C-

3 bd · 1.0 ba · 1,617 sqft · Built 1948 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,114/mo
• Mortgage (P&I): −$1,179
• Tax + insurance: −$459
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $32/mo
• Annual: $387/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• 1% rule: 0.94%
• Cash to close: $62,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $32 ($387/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 $211k (6.0% below list).
• It's been on market 83 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $211k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#26 in OH, #239 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: commute F.
• Beavercreek City (suburban): math 70% / reading 78% proficiency, ranked #79 of 656 in OH (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Main Elementary School (math 82% / reading 84%, grade A+, #102 of 1,584 statewide, top 7%, 665 students, 16% FRL); Jacob Coy Middle School (math 73% / reading 75%, grade A, #94 of 654 statewide, top 15%, 1,047 students, 14% FRL); Beavercreek High School (math 35% / reading 86%, grade C+, #236 of 781 statewide, top 30%, 1,637 students, 13% FRL) — zoned schools at 14% FRL track the district average.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 96 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• 4 sale attempts since 7y ago; this cycle's ask has dropped $23k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.5% vs local median 3.2% in Beavercreek — 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 18% of the median local income ($142k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.