5675 Coach Dr Unit D

Kettering, OH 45440

$90,000B-

3 bd · 2.0 ba · 1,150 sqft · Built 1969 · Condo · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,452/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$150
• HOA: −$330
• Vac / Maint / Mgmt: −$305
• Net cashflow: $195/mo
• Annual: $2,337/yr
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• 1% rule: 1.61%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath condo listed at $90k. Condition is rated poor.
• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 63 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#61 in OH, #922 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: commute F.
• Kettering City School District (suburban): math 54% / reading 68% proficiency, ranked #277 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 23% of rent.
• Market conditions: Rents rising fast (+4.3%/yr); 119 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 8.9% vs local median 4.4% in Kettering — 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

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — Old and worn
• Major: bathroom fixtures — Missing and exposed
• Major: flooring — Exposed subflooring
• Major: interior walls — Paint peeling
• Major: exterior siding — Exposed
• Major: windows — Exposed frames