509 Peachcreek Rd

Centerville, OH 45458

$350,000D+

4 bd · 2.0 ba · 2,808 sqft · Built 1977 · MultiFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,156/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$801
• HOA: −$0
• Vac / Maint / Mgmt: −$663
• Net cashflow: $-143/mo
• Annual: $-1,718/yr
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• 1% rule: 0.90%
• Cash to close: $98,000

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $350k.
• At list price, monthly cash flow is $-143 ($-2k/yr) — negative. Per door: $-72/mo.
• To cash-flow at today's rent, offer at most $325k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $316k (9.8% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $316k (9.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#45 in OH, #604 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Centerville City (suburban): math 62% / reading 71% proficiency, ranked #163 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Centerville Primary Village South (712 students, 19% FRL); Magsig Middle School (math 54% / reading 65%, grade B, #271 of 654 statewide, top 43%, 577 students, 23% FRL); Centerville High School (math 60% / reading 84%, grade B+, #89 of 781 statewide, top 12%, 2,755 students, 15% FRL).
• Market conditions: Rents rising (+2.0%/yr); 223 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 5.8% vs local median 2.9% in Centerville — 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.
• This rent runs 34% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.