838 W Galbraith Rd

Finneytown, OH 45231

$187,000D

2 bd · 1.0 ba · 1,016 sqft · Built 1938 · SingleFamily · Active · 212 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,596/mo
• Mortgage (P&I): −$981
• Tax + insurance: −$394
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $-114/mo
• Annual: $-1,370/yr
• Cap rate: 5.56%
• Cash-on-cash: -2.62%
• DSCR: 0.88
• 1% rule: 0.85%
• Cash to close: $52,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $187k.
• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (14.7% below list).
• It's been on market 212 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (14.7% 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 82/100 on livability (#70 in OH, #1,092 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-.
• Finneytown Local (suburban): math 25% / reading 46% proficiency, ranked #549 of 656 in OH (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Finneytown Secondary Campus (math 19% / reading 44%, grade F, #612 of 781 statewide, top 78%, 566 students, 63% FRL) — zoned schools average 63% FRL vs 47% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.9%/yr); 79 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 11 sale attempts since 23y ago; this cycle's ask has dropped $28k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $148k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 212 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1938 — 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 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.