474 Kalynn Cir #19

Fairborn, OH 45324

$192,000D+

2 bd · 2.0 ba · 1,568 sqft · Built 2025 · SingleFamily · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,571/mo
• Mortgage (P&I): −$1,007
• Tax + insurance: −$320
• HOA: −$0
• Vac / Maint / Mgmt: −$330
• Net cashflow: $-86/mo
• Annual: $-1,028/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.91%
• DSCR: 0.91
• 1% rule: 0.82%
• Cash to close: $53,760

Investor read

• This is a 2-bed/2.0-bath single-family listed at $192k.
• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (18.2% below list).
• It's been on market 95 days — a 9% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (18.2% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 5.8% 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.

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 95 days. Have you received any prior offers? Is the seller open to a 18% 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.