122 Wilson Ave

Fairborn, OH 45324

$103,900C+

2 bd · 1.0 ba · 760 sqft · Built 1952 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,046/mo
• Mortgage (P&I): −$545
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $146/mo
• Annual: $1,747/yr
• Cap rate: 7.97%
• Cash-on-cash: 6.00%
• DSCR: 1.27
• 1% rule: 1.01%
• Cash to close: $29,092

Investor read

• This is a 2-bed/1.0-bath single-family listed at $104k.
• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• It's been on market 93 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $718 of loan paydown is wiped out by about $3k 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-, employment D+, amenities 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.
• Zoned schools: Fairborn Primary School (1,253 students, 0% FRL); Baker Middle School (math 34% / reading 46%, grade F, #511 of 654 statewide, top 79%, 939 students, 0% FRL); Fairborn High School (math 33% / reading 65%, grade D, #422 of 781 statewide, top 54%, 1,048 students, 46% FRL) — zoned schools average 15% FRL vs 51% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.8%/yr); 181 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• 3 sale attempts since 8y ago; this cycle's ask has dropped $21k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $104k implies a 160% gain — meaningful room to come down on a strong offer.
• Cap rate 8.0% vs local median 3.8% 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.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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 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?
• 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.