3938 Cold Stream Way · Beavercreek, OH 45430

$210,000

3 bd · 3.5 ba · 2,346 sqft · Condo public records · 13 Days on market

Built 1993 $472/mo HOA · 20% of rent

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Why this score? — see what drove the D 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 +10.0/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• 1% rule +6.4/10.0
• Livability +4.4/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention Handy Buyers & Visionaries: Beavercreek condo priced for an AS-IS sale. Sweeping architectural features, an expansive three-level layout, and an unbeatable location come together in this Beavercreek condo. Discover an incredible opportunity to build immediate sweat equity in the highly desirable Summit Ridge neighborhood. Perfect for ambitious handy-buyers, DIY enthusiasts, or owner-occupant investors, this sprawling condo offers the space of a single-family home with the ease of condo living. Located near popular shopping, dining, major highway access, and the area's premier bike path system, the location simply cannot be beat. The lower level is perfect for multi-generatio

Key facts

• $472 HOA
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Property is listed for sale
• HOA & community: Homeowners association with monthly dues; Association amenities include pool and trash service

Exterior

• Parking: Attached two-car garage
• Security: Smoke detectors
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Two-story home; Entry level is the first floor; Residential zoning
• Construction: Brick and vinyl siding exterior
• Exterior features: Deck; Patio

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms on the second floor
• Bathrooms: Three full bathrooms; One half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Cathedral ceilings; Full finished basement with walk-out access; Gas fireplace with glass doors
• Laundry & utility: Basement laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (10.7% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $188k (10.7% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.2% in Beavercreek — 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.

Location & tenants

• Location reads 88/100 on livability (#26 in OH, #239 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: commute F.
• Beavercreek City (suburban): math 70% / reading 78% proficiency, ranked #79 of 656 in OH (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Valley Elementary School (math 71% / reading 69%, grade A-, #380 of 1,584 statewide, top 25%, 474 students, 14% FRL); Herman K Ankeney Middle School (math 69% / reading 77%, grade A, #105 of 654 statewide, top 17%, 704 students, 17% FRL); Beavercreek High School (math 35% / reading 86%, grade C+, #236 of 781 statewide, top 30%, 1,637 students, 13% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 797 units permitted in Greene County in 2024 (148 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $210k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $187,582 (10.7% below list)

Questions for the listing agent

1. 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?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.14% ✓
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• GRM: 7.3

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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-41,724
• Equity at exit: $31,312

10-year hold

• IRR: -13.0%
• Equity multiple: 0.23×
• Total profit: $-45,163
• Equity at exit: $18,157

Cash invested: $58,800 (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 45430

• Active inventory: 35
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,401 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$363 /mo · $4,356/yr
• Insurance: −$88
• HOA: −$472
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $-127

Break-even live

Break-even rent $2,562

Max offer price $187,582

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-67	+0% $-127	+5% $-186	+10% $-246
Rent	-10% $-317	-5% $-222	+0% $-127	+5% $-32	+10% $63
Rate	-1.0pp $-21	-0.5pp $-73	base $-127	+0.5pp $-181	+1.0pp $-237

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4078 Margate Dr Unit NA Beavercreek, OH	3.0	2.5	2399	$2,800	$1.17	46d	1	0.57mi
2816 Nacoma Pl Dayton, OH	4.0	2.0	2016	$1,950	$0.97	5d	1	1.24mi
2833 Nacoma Pl Dayton, OH	3.0	1.0	1728	$1,750	$1.01	5d	1	1.28mi

HOA detail condo

• Monthly dues: $472 · $5,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-07
   status $210,000 Pending 13 DOM
2. 2026-06-03
   days on market $210,000 Active 13 DOM
3. 2026-06-03
   days on market $210,000 Active 12 DOM
4. 2026-06-01
   days on market $210,000 Active 11 DOM
5. 2026-05-31
   days on market $210,000 Active 10 DOM
6. 2026-05-22
   status Active
7. 2026-05-22
   price $210,000
8. 2026-04-09
   historical
9. 2026-01-08
   listed $250,000 Active
10. 1995-11-08
    soldstatus $138,000
11. 1995-11-08
    soldstatus $138,000
12. 1994-01-27
    soldstatus $144,065

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $4,356 · $363/mo
• Projected year-2 tax: $4,356 · $363/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,813
• − Mortgage interest: −$11,763
• − Property taxes: −$4,356
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,305
• − Management: −$2,305
• − HOA: −$5,664
• − Depreciation: −$6,109
• Taxable loss: −$4,739
• Est. tax savings @ 24.0%: +$1,137
• After-tax cash flow: $-385/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: Beavercreek City
• NCES district ID: 3904724
• Math proficiency: 70% ▼ -9.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $80,251
• Composite: 65.55/100
• National rank: #469
• State rank: #79 of 656 in OH

Livability — Beavercreek

• Score: 88/100
• State rank: #26
• US rank: #239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beavercreek, OH
• County: Greene · 199,376 people
• City population: 27,951
• Metro: Dayton-Kettering-Beavercreek, OH
• Population (ZIP): 7,171
• Household income: $107,500
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 4.3

Population outlook (Greene County) Hauer SSP2

• Today (2025): 170,301 people
• By 2030: 171,840 · +0.9%
• By 2040: 171,408 · +0.7%
• By 2050: 167,806 · -1.5%
• By 2075: 154,430 · -9.3%
• By 2100: 138,669 · -18.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 3% Two or more races 3% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 2%
• Foreign-born: 6% · South Korea, Vietnam
• Languages at home: 95% English-only · Vietnamese 2% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Greene

• 2024 margin: R (+19.8) · D 39.5% · R 59.3% · Other 1.2%
• 2008→2024 swing: -1.4pp toward R · 2008: -18.4pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+19.5 2016: R+24.5 2012: R+21.8 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.70%
• Current HPI: 215.7641
• 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

+45.8% since first listed

7 events — show timeline

• 2026-05-22 Relisted — Dayton MLS
• 2026-05-22 Price Changed $210,000 Dayton MLS
• 2026-04-09 Listing Removed — Dayton MLS
• 2026-01-08 Listed $250,000 Dayton MLS
• 1995-11-08 Sold (Public Records) $138,000 Public Records
• 1995-11-08 Sold (Public Records) $138,000 Public Records
• 1994-01-27 Sold (Public Records) $144,065 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,356 · +0.4% YoY. Source: county tax records.