4100 Crane Rd

Tipp City, OH 45371

$139,900C+

3 bd · 1.5 ba · 1,000 sqft · Built 1961 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,484/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$312
• Net cashflow: $303/mo
• Annual: $3,637/yr
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• 1% rule: 1.06%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $140k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#125 in OH, #1,827 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tipp City Exempted Village (suburban): math 70% / reading 76% proficiency, ranked #108 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 250 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• Cap rate 8.9% vs local median 3.1% in Tipp City — 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.

Questions for listing agent

• Built in 1961 — 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?
• 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.