DSCR Rental Purchase Loan for 4-Unit Property in Dayton, Ohio

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Long-Term Rental

Approx. Funding Date


Property Type
2-4 Units Residential
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution



30 years

Rate Type


Debt Service Coverage Ratio


Property Neighborhood


Location Type


Property Condition


Number of Units


Borrower's Plan

Long-Term Rental

Exit Strategy

Pay Down

Borrower Credit Rating


Interest Rate


Origination Points


Deal Highlights

Experienced repeat borrower looking for a property to purchase and hold as a long-term rental
Borrower has over 20 rental properties in their portfolio
Experience and excellent credit qualified borrower for 80% of the purchase price for the loan amount
Property includes 4 units, estimated market rent per month is $2400.00

Deal Summary

RCN Capital, a national direct private lender, funded a $148,000 loan for the purchase of a 4-unit residential property in Dayton, Ohio. The purchase price was $185,000. RCN Capital funded 80% of the purchase in 1st lien position, and the Borrower contributed a 20% cash down payment at closing. The Borrower is an experienced investor with over 20 rental properties in their portfolio, looking to take on another 30-year deal under contract to acquire the subject property with intentions of holding it long-term as a rental/income property. They had good credit with a mid-score of 718 and bank statements evidenced over $131,418 in total assets. The loan was structured and priced in accordance with RCN’s qualification model. The Appraiser’s estimated combined market rent is $2,400 per month, which resulted in a 1.86 DSCR. The fixed interest rate was 6.6% and the loan term was set at 30 years. The subject property was in good condition, and we charged 4% origination points. Two out of four leases were in place at the time of closing. This DSCR rental loan was funded in October 2022.

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Loan Officer

Ryan Taft

Ryan puts a premium on giving clients at RCN a customer experience that will lead to a long-lasting relationship. Ryan goes above and beyond to make sure brokers & borrowers alike reach their financial and professional goals through clear & concise communication.

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