6101 Contreras Rd

Oxford, OH 45056

$284,900D-

3 bd · 2.0 ba · 1,888 sqft · Built 1930 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,311/mo
• Mortgage (P&I): −$1,494
• Tax + insurance: −$322
• HOA: −$0
• Vac / Maint / Mgmt: −$485
• Net cashflow: $9/mo
• Annual: $113/yr
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• 1% rule: 0.81%
• Cash to close: $79,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $9 ($113/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 $231k (18.9% below list).
• It's been on market 37 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (18.9% 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 87/100 on livability (#30 in OH, #267 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Talawanda City (rural): math 55% / reading 61% proficiency, ranked #323 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• 8 sale attempts since 27y 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 $190k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.3% vs local median 3.6% in Oxford — 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.
• At $2,311/mo this rent would consume 56% of the median local household income ($49k/yr) (locally 1724% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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.
• 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.