7001 Quellin Blvd

Maineville, OH 45039

$510,000D+

4 bd · 2.5 ba · 2,412 sqft · Built 2021 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,237/mo
• Mortgage (P&I): −$2,674
• Tax + insurance: −$793
• HOA: −$48
• Vac / Maint / Mgmt: −$680
• Net cashflow: $-958/mo
• Annual: $-11,500/yr
• Cap rate: 4.04%
• Cash-on-cash: -8.05%
• DSCR: 0.64
• 1% rule: 0.63%
• Cash to close: $142,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $510k.
• At list price, monthly cash flow is $-958 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (33.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $324k (36.5% below list).
• It's been on market 51 days — a 3% lower offer ($495k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $324k (36.5% below list) — sets the bar for 1% rule.
• In year one you build about $55k of equity ($4k loan paydown + $51k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#529 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $400k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$88k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 36% 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?
• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.