160 Old Pond Rd · Springboro, OH 45066

$266,000

2 bd · 2.0 ba · 1,457 sqft · Condo public records · 166 Days on market

Built 2021 $220/mo HOA · 10% of rent ↓ 16% since listing

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Seller is readily available to look at offers quickly and negotiate offers for a smooth and timely closing. Beautiful 2-Bedroom, 2-Bath condo with a bonus room in Springboro! Welcome to this well-maintained one-level condo offering comfort, convenience, and community living at its best. The home features a shared driveway with an attached garage and has been thoughtfully updated with new LVP flooring, installed less than a year ago. The open concept kitchen flows effortlessly into the family and dining areas, creating a spacious feel that's perfect for entertaining or relaxing. Abundant natural light fills the home, enhancing the warm and inviting atmosphere throughout. Step outside to your

Key facts

• Open concept kitchen
• Attached garage
• Community pool

Tags

• ATTACHED GARAGE
• NEW LVP FLOORING
• OPEN CONCEPT KITCHEN
• BACK PATIO
• COMMUNITY WALKING TRAILS
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $266k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (16.6% below list).
• Recommended offer: $219k (17.8% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.0% in Springboro — 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.

Location & tenants

• Location reads 81/100 on livability (#93 in OH, #1,395 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: health & safety C-, amenities F, commute F.
• Springboro Community City (rural): math 77% / reading 79% proficiency, ranked #42 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 219 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($234k) is reasonable based on typical stale-listing flexibility.

Recommended offer $218,649 (17.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.08%
• Cash-on-cash: -4.32%
• DSCR: 0.81
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.19×
• Total profit: $-60,030
• Equity at exit: $39,661

10-year hold

• IRR: -18.2%
• Equity multiple: 0.01×
• Total profit: $-73,665
• Equity at exit: $22,999

Cash invested: $74,480 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45066

• Active inventory: 219
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,218 medium
• Mortgage (P&I): −$1,395
• Tax from tax record: −$294 /mo · $3,534/yr
• Insurance: −$111
• HOA: −$220
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $-268

Break-even live

Break-even rent $2,557

Max offer price $218,649

Occupancy floor —

Sensitivity live

Price	-10% $-117	-5% $-193	+0% $-268	+5% $-343	+10% $-419
Rent	-10% $-443	-5% $-356	+0% $-268	+5% $-180	+10% $-93
Rate	-1.0pp $-134	-0.5pp $-200	base $-268	+0.5pp $-337	+1.0pp $-407

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,500
• Closing costs: $7,980
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Old Pond Rd Springboro, OH	2.0	2.0	1366	$1,849	$1.35	3d	1	0.01mi
55 Aime Dr Apt 135-202 Springboro, OH	3.0	2.0	1278	$3,750	$2.93	11d	1	0.25mi
10014 Washington Glen Dr Dayton, OH	2.0	2.0	1505	$3,200	$2.13	11d	1	0.43mi
2991 Austin Springs Blvd Miamisburg, OH	1.0–3.0	1.0–2.0	948	$1,945	$2.05	3d	20	1.42mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-11
   status Pending
2. 2026-03-31
   price $266,000
3. 2026-03-26
   price $277,500
4. 2026-03-05
   price $280,000
5. 2026-02-23
   price $285,000
6. 2026-01-22
   price $287,500
7. 2025-12-01
   price $295,000
8. 2025-11-13
   price $305,000
9. 2025-10-27
   listed $315,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $3,534 · $294/mo
• Projected year-2 tax: $3,842 · $320/mo
• Expected delta: +$308/yr (+$26/mo · 8.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,616
• − Mortgage interest: −$14,900
• − Property taxes: −$3,534
• − Insurance: −$1,330
• − Repairs & maintenance: −$2,129
• − Management: −$2,129
• − HOA: −$2,640
• − Depreciation: −$7,738
• Taxable loss: −$7,785
• Est. tax savings @ 24.0%: +$1,868
• After-tax cash flow: $-1,348/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Springboro Community City
• NCES district ID: 3905042
• Math proficiency: 77% ▼ -6.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $101,069
• Composite: 70.88/100
• National rank: #247
• State rank: #42 of 656 in OH

Livability — Springboro

• Score: 81/100
• State rank: #93
• US rank: #1395

Category grades

Amenities F Commute F Cost of living A- Crime A+ Employment A+ Housing A+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springboro, OH
• County: Warren County · 196,906 people
• City population: 27,545
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 27,545
• Household income: $131,250
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 139.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 248,603 people
• By 2030: 259,345 · +4.3%
• By 2040: 277,666 · +11.7%
• By 2050: 289,599 · +16.5%
• By 2075: 311,681 · +25.4%
• By 2100: 302,738 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 4% Two or more races 4% Asian 3% Black 2%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Asian/Pacific 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Solid R (+31.5) · D 33.8% · R 65.3%
• 2008→2024 swing: +4.5pp toward D · 2008: -36.1pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+30.8 2016: R+37.6 2012: R+39.5 2008: R+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.08%
• Current HPI: 221.4007
• Rent YoY: —
• Metro: Cincinnati, OH-KY-IN
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

-15.6% since first listed

9 events — show timeline

• 2026-04-11 Pending — Dayton MLS
• 2026-03-31 Price Changed $266,000 Dayton MLS
• 2026-03-26 Price Changed $277,500 Dayton MLS
• 2026-03-05 Price Changed $280,000 Dayton MLS
• 2026-02-23 Price Changed $285,000 Dayton MLS
• 2026-01-22 Price Changed $287,500 Dayton MLS
• 2025-12-01 Price Changed $295,000 Dayton MLS
• 2025-11-13 Price Changed $305,000 Dayton MLS
• 2025-10-27 Listed $315,000 Dayton MLS

Property tax history

+18.8%/yr

Latest (2025): $3,534 · -0.2% YoY. Source: county tax records.