482 Kalynn Cir #18

Fairborn, OH 45324

$189,000D+

3 bd · 2.0 ba · 1,493 sqft · Built 2025 · SingleFamily · Active · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,649/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$315
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-3/mo
• Annual: $-39/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $52,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $189k. Condition is rated good.
• At list price, monthly cash flow is $-3 ($-39/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (12.7% below list).
• It's been on market 198 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (12.7% 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 72/100 on livability (#374 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, employment D+.
• Fairborn City (suburban): math 36% / reading 49% proficiency, ranked #520 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 180 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.3% vs local median 3.7% in Fairborn — 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.
• This rent runs 30% of the median local income ($65k/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 198 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.