944 Fox Croft Pl

Trenton, OH 45067

$202,000C-

3 bd · 1.5 ba · 1,544 sqft · Built 1999 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,927/mo
• Mortgage (P&I): −$1,059
• Tax + insurance: −$354
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $109/mo
• Annual: $1,303/yr
• Cap rate: 6.94%
• Cash-on-cash: 2.30%
• DSCR: 1.10
• 1% rule: 0.95%
• Cash to close: $56,560

Investor read

• This is a 3-bed/1.5-bath single-family listed at $202k.
• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (4.6% below list).
• It's been on market 29 days — a 2% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (4.6% below list) — sets the bar for 1% rule.
• 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.
• Location reads 74/100 on livability (#282 in OH, #4,633 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Edgewood City (rural): math 43% / reading 57% proficiency, ranked #427 of 656 in OH (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Edgewood Middle School (math 37% / reading 51%, grade D, #484 of 654 statewide, top 74%, 832 students, 40% FRL); Edgewood High School (math 34% / reading 70%, grade D+, #343 of 781 statewide, top 47%, 1,167 students, 34% FRL).
• Market conditions: 66 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• 3 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 6.9% vs local median 3.7% in Trenton — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.