4281 Defender Dr #104 · Dry Ridge, OH 45252

$162,500

2 bd · 2.0 ba · 1,109 sqft · Condo · 66 Days on market

Built 1995 $282/mo HOA · 14% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.4/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 2BR,2BA condo in the desirable Yacht Club. Enjoy this garden level unit w large closets. Open floor plan with split bedroom layout. Included are all kitchen appliances, in-unit laundry, patio and storage closet. Enjoy the many amenities which include tennis, pool, basketball, and clubhouse, easy access to highway and local restaurants. Pet friendly condo.

Key facts

• Tennis
• In unit laundry
• Pool

Tags

• PATIO SPACE
• IN UNIT LAUNDRY
• FULLY EQUIPPED KITCHEN
• POOL
• TENNIS
• BASKETBALL

Property features AI

Finance

• Other: Lot size about 1.84 acres; Less than 0.5 acre description for some listings (see land details)
• Financial info: Lease not considered
• HOA & community: HOA present; owner pays HOA fees; HOA fee $282 monthly; HOA amenities include clubhouse and play area

Exterior

• Parking: Parking details not provided
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Electric service
• Home design: Traditional style; One level unit (unit entry on level 1) in a 3-story building; Residential zoning
• Construction: Brick and vinyl siding exterior; Shingle roof; Poured foundation; Built with vinyl windows
• Exterior features: Patio; Cleared lot with pine trees

Interior

• Kitchen: Quartz countertops; Wood cabinets; Vinyl flooring in kitchen; Includes dishwasher, oven/range, refrigerator
• Bedrooms: Two bedrooms total; Primary bedroom on level 1 (16 x 14); Second bedroom on level 1 (12 x 11)
• Flooring: Wall-to-wall carpet in living and dining areas; Vinyl flooring in kitchen
• Bathrooms: Two full bathrooms on level 1; Primary bathroom with shower
• Heating & cooling: Electric heating (forced air); Central air conditioning; Electric water heater
• Interior features: Common hallway entry; Laundry in unit; Seven total rooms
• Laundry & utility: Washer and dryer included; Laundry located in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Recommended offer: $153k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#625 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, amenities F, commute F.
• Northwest Local (suburban): math 38% / reading 46% proficiency, ranked #508 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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.

Recommended offer $152,750 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-12,683
• Equity at exit: $24,229

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $7,099
• Equity at exit: $14,050

Cash invested: $45,500 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45252

• Home prices YoY: -26.9%
• Active inventory: 11
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$852
• Tax est. 1.5%: −$203 /mo · $2,438/yr
• Insurance: −$68
• HOA: −$282
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $211

Break-even live

Break-even rent $1,778

Max offer price $162,500

Occupancy floor 85%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9939 Voyager Way Cincinnati, OH	3.0	2.0	1400	$2,300	$1.64	43d	1	0.19mi
3683 Ripplegrove Dr Cincinnati, OH	3.0	1.5	1395	$1,931	$1.38	20d	1	0.87mi
10101 Arborwood Dr Cincinnati, OH	1.0–3.0	1.0–1.5	912	$1,336	$1.46	1d	26	1.21mi
9333 Round Top Cincinnati, OH	1.0–3.0	1.0–2.0	979	$1,375	$1.40	2d	3	1.29mi

HOA detail condo

• Monthly dues: $282 · $3,384/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $162,500 Active 66 DOM
2. 2026-06-17
   days on market $162,500 Active 65 DOM
3. 2026-06-16
   days on market $162,500 Active 64 DOM
4. 2026-06-15
   days on market $162,500 Active 63 DOM
5. 2026-06-13
   days on market $162,500 Active 61 DOM
6. 2026-06-12
   days on market $162,500 Active 60 DOM
7. 2026-06-09
   days on market $162,500 Active 57 DOM
8. 2026-06-08
   days on market $162,500 Active 56 DOM
9. 2026-06-08
   days on market $162,500 Active 55 DOM
10. 2026-06-07
    days on market $162,500 Active 54 DOM
11. 2026-06-04
    days on market $162,500 Active 51 DOM
12. 2026-06-02
    days on market $162,500 Active 50 DOM
13. 2026-06-01
    days on market $162,500 Active 49 DOM
14. 2026-05-31
    days on market $162,500 Active 48 DOM
15. 2026-04-10
    listed $165,000 Active
16. 2026-03-31
    historical 367-char remark

    Show marketing remark (367 chars)

    Spacious 2BR,2BA condo in the desirable Yacht Club. Enjoy this garden level unit w large closets. Open floor plan with split bedroom layout. Included are all kitchen appliances, in-unit laundry, patio and storage closet. Enjoy the many amenities which include tennis, pool, basketball, and clubhouse, easy access to highway and local restaurants. Pet friendly condo.

17. 2025-12-08
    price $167,900 367-char remark

    Show marketing remark (367 chars)

    Spacious 2BR,2BA condo in the desirable Yacht Club. Enjoy this garden level unit w large closets. Open floor plan with split bedroom layout. Included are all kitchen appliances, in-unit laundry, patio and storage closet. Enjoy the many amenities which include tennis, pool, basketball, and clubhouse, easy access to highway and local restaurants. Pet friendly condo.

18. 2025-10-20
    listed $170,000 Active 367-char remark

    Show marketing remark (367 chars)

    Spacious 2BR,2BA condo in the desirable Yacht Club. Enjoy this garden level unit w large closets. Open floor plan with split bedroom layout. Included are all kitchen appliances, in-unit laundry, patio and storage closet. Enjoy the many amenities which include tennis, pool, basketball, and clubhouse, easy access to highway and local restaurants. Pet friendly condo.

19. 2023-04-20
    soldstatus $161,000 Closed 234-char remark

    Show marketing remark (234 chars)

    Lovely 2BR, 2BA condo in Yacht Club. Enjoy this garden level unit with large closets, in-unit laundry and patio with storage closet. Tennis, pool, basketball, clubhouse, and lake are all available at this great community! See it soon!

20. 2023-03-15
    status Pending 234-char remark

    Show marketing remark (234 chars)

    Lovely 2BR, 2BA condo in Yacht Club. Enjoy this garden level unit with large closets, in-unit laundry and patio with storage closet. Tennis, pool, basketball, clubhouse, and lake are all available at this great community! See it soon!

21. 2023-03-14
    price $161,000 234-char remark

    Show marketing remark (234 chars)

    Lovely 2BR, 2BA condo in Yacht Club. Enjoy this garden level unit with large closets, in-unit laundry and patio with storage closet. Tennis, pool, basketball, clubhouse, and lake are all available at this great community! See it soon!

22. 2023-03-13
    listed $159,900 Active 234-char remark

    Show marketing remark (234 chars)

    Lovely 2BR, 2BA condo in Yacht Club. Enjoy this garden level unit with large closets, in-unit laundry and patio with storage closet. Tennis, pool, basketball, clubhouse, and lake are all available at this great community! See it soon!

23. 2019-07-18
    soldstatus $92,000 Sold
24. 2019-05-17
    historical Accept Backup Offers
25. 2019-05-15
    listed $92,000 Active
26. 2015-12-30
    soldstatus $67,000 Sold
27. 2015-11-25
    historical Accept Backup Offers
28. 2015-08-20
    listed $69,900 Active
29. 2009-08-27
    soldstatus $74,900
30. 2009-05-13
    listed $76,900
31. 2007-12-07
    historical
32. 2007-10-02
    listed $89,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,548
• − Mortgage interest: −$9,103
• − Property taxes: −$2,438
• − Insurance: −$812
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − HOA: −$3,384
• − Depreciation: −$4,727
• Taxable income: $157
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $2,496/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Northwest Local
• NCES district ID: 3904736
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $58,765
• Composite: 36.97/100
• National rank: #4528
• State rank: #508 of 656 in OH

Livability — Dry Ridge

• Score: 67/100
• State rank: #625
• US rank: #10942

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dry Ridge, OH
• County: Hamilton · 838,887 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 4,941
• Household income: $96,750
• Rent vs Own: 6.2% rent · 93.8% own

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 15% Two or more races 4%
• Common ancestry: Estonian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Indo-European 1%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.16%
• Current HPI: 207.2523
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+83.5% since first listed

18 events — show timeline

• 2026-04-10 Listed $165,000 Cincy MLS
• 2026-03-31 Listing Removed — Cincy MLS
• 2025-12-08 Price Changed $167,900 Cincy MLS
• 2025-10-20 Listed $170,000 Cincy MLS
• 2023-04-20 Sold (MLS) $161,000 Cincy MLS
• 2023-03-15 Pending — Cincy MLS
• 2023-03-14 Price Changed $161,000 Cincy MLS
• 2023-03-13 Listed $159,900 Cincy MLS
• 2019-07-18 Sold (MLS) $92,000 Cincy MLS
• 2019-05-17 Contingent — Cincy MLS
• 2019-05-15 Listed $92,000 Cincy MLS
• 2015-12-30 Sold (MLS) $67,000 Cincy MLS
• 2015-11-25 Contingent — Cincy MLS
• 2015-08-20 Listed $69,900 Cincy MLS
• 2009-08-27 Sold (MLS) $74,900 Cincy MLS
• 2009-05-13 Listed $76,900 Cincy MLS
• 2007-12-07 Listing Removed — Cincy MLS
• 2007-10-02 Listed $89,900 Cincy MLS