6004 Snyder Rd

Dent, OH 45247

$315,000B

4 bd · 2.0 ba · 1,560 sqft · Built 1958 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,500/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$463
• HOA: −$0
• Vac / Maint / Mgmt: −$1,155
• Net cashflow: $2,231/mo
• Annual: $26,766/yr
• Cap rate: 14.79%
• Cash-on-cash: 30.35%
• DSCR: 2.35
• 1% rule: 1.75%
• Cash to close: $88,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $315k.
• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $315k).
• It's been on market 15 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $310k (1.5% 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 $9k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#245 in OH, #3,901 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Oak Hills Local (suburban): math 68% / reading 70% proficiency, ranked #141 of 656 in OH (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Charles W Springmyer Elementary School (math 84% / reading 82%, grade A+, #102 of 1,584 statewide, top 7%, 460 students, 21% FRL); Bridgetown Middle School (math 71% / reading 77%, grade A, #94 of 654 statewide, top 15%, 648 students, 0% FRL); Oak Hills High School (math 8% / reading 69%, grade F, #557 of 781 statewide, top 72%, 2,325 students, 0% FRL).
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 50 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• Current owner paid $59k; list at $315k implies a 434% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.8% vs local median 2.9% in Dent — 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.
• At $5,500/mo this rent would consume 69% of the median local household income ($96k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1958 — 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.
• 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.