5753 Boomer Rd

Monfort Heights, OH 45247

$295,000F

3 bd · 1.0 ba · 1,323 sqft · Built 1938 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,345/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$301
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $-786/mo
• Annual: $-9,431/yr
• Cap rate: 3.10%
• Cash-on-cash: -11.42%
• DSCR: 0.49
• 1% rule: 0.46%
• Cash to close: $82,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $-786 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (47.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (54.4% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $134k (54.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#46 in OH, #614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, cost of living A+; Watch: amenities F.
• Oak Hills Local (suburban): math 68% / reading 70% proficiency, ranked #141 of 656 in OH (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 51 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 8 sale attempts since 11y 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.
• Current owner paid $115k; list at $295k implies a 157% gain — meaningful room to come down on a strong offer.
• This rent is only 17% of the median local income ($96k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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?
• Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.