5917 Pepperridge Ct

South Lebanon, OH 45039

$489,900D

4 bd · 2.5 ba · 2,948 sqft · Built 2003 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,826/mo
• Mortgage (P&I): −$2,569
• Tax + insurance: −$674
• HOA: −$46
• Vac / Maint / Mgmt: −$593
• Net cashflow: $-1,056/mo
• Annual: $-12,677/yr
• Cap rate: 3.71%
• Cash-on-cash: -9.24%
• DSCR: 0.59
• 1% rule: 0.58%
• Cash to close: $137,172

Investor read

• This is a 4-bed/2.5-bath single-family listed at $490k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (38.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (42.3% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $283k (42.3% below list) — sets the bar for 1% rule.
• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#279 in OH, #4,589 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Little Miami Local (rural): math 67% / reading 70% proficiency, ranked #140 of 656 in OH (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+7.4%/yr); 126 active listings in the ZIP; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $45k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $220k; list at $490k implies a 123% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 31% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.