412 Union St · Felicity, OH 45120

$129,900

2 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 43 Days on market

Built 1870 4,356 sqft lot $124/sqft · 21% below area Est $164k · 21% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Schools +4.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

Key facts

• Covered front porch
• Large kitchen
• Renovated ranch

Tags

• RENOVATED RANCH
• UPDATED LIVING SPACE
• LARGE KITCHEN
• OVERSIZED LAUNDRY ROOM
• UPDATED BATHROOM
• COVERED FRONT PORCH

Property features AI

Finance

• HOA & community: No HOA; Golf cart-friendly community

Exterior

• Parking: Attached carport for one vehicle; Driveway
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Single-family ranch; One story
• Construction: Block and stone foundation
• Exterior features: Vinyl siding; Vinyl windows; Shingle roof; Residential zoning; Lot about 0.1 acre

Interior

• Kitchen: Kitchen approximately 12 x 16
• Bedrooms: Two bedrooms on main level; Primary bedroom approximately 14 x 12; Second bedroom approximately 12 x 8
• Flooring: Wall-to-wall carpet in living room
• Bathrooms: One full bathroom on main level
• Heating & cooling: Baseboard heating; Ceiling fans; Window air conditioning unit
• Interior features: Six total rooms; Crawl space basement
• Laundry & utility: Main-level laundry room approximately 5 x 7

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/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 $129k (0.3% below list).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#989 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime D, amenities F, commute F.
• Felicity-Franklin Local (rural): math 53% / reading 55% proficiency, ranked #388 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (median comp): $163,979
• List price: $129,900
• Delta: -20.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 Market St	0.06mi	2/1.0	1,055 (+1%)	6mo	$35,000	$33	91
714 W Harrison St	0.13mi	3/2.0 (+1)	1,044 (-0%)	6mo	$203,000	$194	80
611 Harrison St	0.23mi	2/1.0	1,064 (+2%)	14mo	$197,900	$186	75
605 Light St	0.26mi	3/1.0 (+1)	1,106 (+6%)	14mo	$190,000	$172	62
115 W Walnut St	0.08mi	3/1.0 (+1)	936 (-11%)	16mo	$97,500	$104	60
983 St Rt 133	0.49mi	3/1.0 (+1)	1,200 (+14%)	9mo	$240,000	$200	40
945 Hopewell Rd	0.62mi	3/2.0 (+1)	1,200 (+14%)	11mo	$80,000	$67	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 3.33×
• Total profit: $84,632
• Equity at exit: $117,024

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $238,204
• Equity at exit: $252,367

Cash invested: $36,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45120

• Home prices YoY: 11.3%
• Active inventory: 13
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $219

Break-even live

Break-even rent $1,018

Max offer price $129,900

Occupancy floor 78%

Sensitivity live

Price	-10% $292	-5% $255	+0% $219	+5% $182	+10% $145
Rent	-10% $116	-5% $167	+0% $219	+5% $270	+10% $321
Rate	-1.0pp $284	-0.5pp $252	base $219	+0.5pp $185	+1.0pp $151

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Mulberry St Felicity, OH	3.0	2.0	1034	$1,250	$1.21	2d	1	0.40mi
3476 Smyrna Rd Felicity, OH	3.0	1.0	1300	$1,450	$1.12	3d	1	0.99mi
1111 State Route 133 Bethel, OH	3.0	2.0	1034	$1,275	$1.23	2d	1	1.11mi

Listing history 32 events

1. 2026-06-18
   days on market $129,900 Active 43 DOM
2. 2026-06-17
   days on market $129,900 Active 42 DOM
3. 2026-06-17
   price $129,900 Active 41 DOM
4. 2026-06-16
   days on market $139,900 Active 41 DOM
5. 2026-06-15
   days on market $139,900 Active 40 DOM
6. 2026-06-13
   days on market $139,900 Active 38 DOM
7. 2026-06-12
   days on market $139,900 Active 37 DOM
8. 2026-06-09
   days on market $139,900 Active 34 DOM
9. 2026-06-08
   days on market $139,900 Active 33 DOM
10. 2026-06-08
    statusdays on market $139,900 Active 32 DOM
11. 2026-06-05
    days on market $139,900 Contingency Pending 30 DOM
12. 2026-06-04
    days on market $139,900 Contingency Pending 28 DOM
13. 2026-06-02
    days on market $139,900 Contingency Pending 27 DOM
14. 2026-06-01
    days on market $139,900 Contingency Pending 26 DOM
15. 2026-05-31
    days on market $139,900 Contingency Pending 25 DOM
16. 2026-05-17
    status Active 729-char remark
17. 2026-05-08
    historical Contingency Pending 729-char remark
18. 2026-05-06
    listed $139,900 Active 729-char remark
19. 2020-05-22
    soldstatus $70,000
20. 2020-05-15
    soldstatus $70,000 Sold 234-char remark

    Show marketing remark (234 chars)

    Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

21. 2020-03-29
    historical Contingency Pending 234-char remark

    Show marketing remark (234 chars)

    Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

22. 2020-03-23
    status Active 234-char remark

    Show marketing remark (234 chars)

    Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

23. 2020-02-21
    historical Contingency Pending 234-char remark

    Show marketing remark (234 chars)

    Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

24. 2020-02-17
    listed $69,900 Active 234-char remark

    Show marketing remark (234 chars)

    Adorable & completely move in ready! New carpet, paint, & remodeled inside & out. This home is very clean & in excellent condition. Fenced rear yard with shed. Walking distance to restraunts & shopping. Owner agent

25. 2007-01-01
    historical
26. 2006-06-28
    soldstatus $70,000
27. 2005-12-06
    listed $84,900
28. 2005-04-01
    soldstatus $29,900
29. 2005-03-25
    soldstatus $29,900
30. 2004-12-23
    listed $39,900
31. 1999-03-17
    soldstatus $35,000
32. 1995-05-02
    soldstatus $35,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $825 · $69/mo
• Projected year-2 tax: $1,426 · $119/mo
• Expected delta: +$601/yr (+$50/mo · 72.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,535
• − Mortgage interest: −$7,276
• − Property taxes: −$825
• − Insurance: −$650
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$3,779
• Taxable income: $519
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $2,499/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Felicity-Franklin Local
• NCES district ID: 3904633
• Math proficiency: 53% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $47,159
• Composite: 45.83/100
• National rank: #2556
• State rank: #388 of 656 in OH

Livability — Felicity

• Score: 60/100
• State rank: #989
• US rank: #19414

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A- Health & safety C User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Felicity, OH
• County: Clermont · 218,829 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 2,412
• Household income: $54,509
• Rent vs Own: 30.8% rent · 69.2% own

Population outlook (Clermont County) Hauer SSP2

• Today (2025): 210,162 people
• By 2030: 212,463 · +1.1%
• By 2040: 212,504 · +1.1%
• By 2050: 205,957 · -2.0%
• By 2075: 182,728 · -13.1%
• By 2100: 143,986 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Clermont

• 2024 margin: Solid R (+35.8) · D 31.7% · R 67.4%
• 2008→2024 swing: -3.4pp toward R · 2008: -32.4pp · 2024: -35.8pp
• All cycles: 2024: R+35.8 2020: R+36.6 2016: R+41.3 2012: R+35.5 2008: R+32.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 43.68%
• Current HPI: 428.9825
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+271.1% since first listed

20 events — show timeline

• 2026-06-16 Price Changed $129,900 Cincy MLS
• 2026-06-05 Relisted — Cincy MLS
• 2026-05-21 Contingent — Cincy MLS
• 2026-05-17 Relisted — Cincy MLS
• 2026-05-08 Contingent — Cincy MLS
• 2026-05-06 Listed $139,900 Cincy MLS
• 2020-05-22 Sold (Public Records) $70,000 Public Records
• 2020-05-15 Sold (MLS) $70,000 Cincy MLS
• 2020-03-29 Contingent — Cincy MLS
• 2020-03-23 Relisted — Cincy MLS
• 2020-02-21 Contingent — Cincy MLS
• 2020-02-17 Listed $69,900 Cincy MLS
• 2007-01-01 Listing Removed — Cincy MLS
• 2006-06-28 Sold (Public Records) $70,000 Public Records
• 2005-12-06 Listed $84,900 Cincy MLS
• 2005-04-01 Sold (Public Records) $29,900 Public Records
• 2005-03-25 Sold (MLS) $29,900 Cincy MLS
• 2004-12-23 Listed $39,900 Cincy MLS
• 1999-03-17 Sold (Public Records) $35,000 Public Records
• 1995-05-02 Sold (Public Records) $35,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $825 · -0.1% YoY. Source: county tax records.