4443 Nowak Ave

Huber Heights, OH 45424

$194,900D

4 bd · 2.0 ba · 1,539 sqft · Built 1963 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,685/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$316
• HOA: −$0
• Vac / Maint / Mgmt: −$354
• Net cashflow: $-7/mo
• Annual: $-86/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• 1% rule: 0.86%
• Cash to close: $54,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $-7 ($-86/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (13.6% below list).
• It's been on market 83 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (13.6% 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 71/100 on livability (#436 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Huber Heights City (suburban): math 29% / reading 47% proficiency, ranked #544 of 656 in OH (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wright Brothers Elementary School (math 38% / reading 48%, grade F, #1,023 of 1,584 statewide, top 65%, 688 students, 56% FRL); Weisenborn Junior High (math 26% / reading 46%, grade F, #541 of 654 statewide, top 83%, 937 students, 55% FRL); Wayne High School (math 14% / reading 53%, grade F, #598 of 781 statewide, top 77%, 1,743 students, 51% FRL).
• Market conditions: Rents flat; 200 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Cap rate 6.2% vs local median 3.5% in Huber Heights — 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

• 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 83 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.