4002 Radnor Rd

Radnor, OH 43066

$1F

3 bd · 1.5 ba · 1,413 sqft · Built 1901 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$1,382
• Tax + insurance: −$439
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $-281/mo
• Annual: $-3,371/yr
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• 1% rule: 0.74%
• Cash to close: $73,798

Investor read

• This is a 3-bed/1.5-bath single-family listed at $1. Condition is rated fair.
• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• It's been on market 36 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#1,136 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, employment B; Watch: amenities F, commute F, housing F.
• Buckeye Valley Local (rural): math 57% / reading 68% proficiency, ranked #203 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Buckeye Valley East Elementary School (math 47% / reading 57%, grade C-, #851 of 1,584 statewide, top 56%, 422 students, 28% FRL); Buckeye Valley Local Middle School (math 51% / reading 63%, grade B, #305 of 654 statewide, top 48%, 451 students, 17% FRL); Buckeye Valley Local High School (math 57% / reading 77%, grade B, #137 of 781 statewide, top 19%, 654 students, 14% FRL) — zoned schools at 19% FRL track the district average.
• Watch-outs: property tax is 395346.5% of price; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

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 36 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen flooring — dated and worn
• Major: bathroom fixtures — outdated and worn
• Minor: exterior siding — some discoloration