11442 Kary Ln

Forest Park, OH 45240

$279,900D-

4 bd · 1.5 ba · 1,588 sqft · Built 1973 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,442/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$395
• HOA: −$0
• Vac / Maint / Mgmt: −$513
• Net cashflow: $66/mo
• Annual: $790/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• 1% rule: 0.87%
• Cash to close: $78,372

Investor read

• This is a 4-bed/1.5-bath single-family listed at $280k.
• At list price, monthly cash flow is $66 ($790/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (12.8% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $244k (12.8% 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 $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#75 in OH, #1,137 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D.
• Winton Woods City (suburban): math 19% / reading 33% proficiency, ranked #591 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Winton Woods Elementary School (math 30% / reading 30%, grade F, #1,155 of 1,584 statewide, top 73%, 575 students, 73% FRL); Winton Woods Middle School (math 15% / reading 24%, grade F, #610 of 654 statewide, top 94%, 617 students, 77% FRL); Winton Woods High School (math 7% / reading 43%, grade F, #639 of 781 statewide, top 82%, 1,241 students, 74% FRL).
• Market conditions: Rents rising (+3.3%/yr); 44 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• Current owner paid $205k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.6% vs local median 5.2% in Forest Park — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 41% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1973 — 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.
• 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.
• 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.