1247 Ebenezer Rd · Covedale, OH 45233

$150,000

2 bd · 2.0 ba · 1,201 sqft · Condo · 23 Days on market

Built 1985 Fair condition

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Why this score? — see what drove the C 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 +19.9/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +6.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare find! Lovely 1st fl ranch style condo at Pine Glen! Two pets u/50 lbs OK. Cheerful 1,200+sf end unit w/extra windows! Hdwd entry/kit/dinette! Fresh paint/new carpet! WBFP! Mirrored clsts! 2 W/outs to cov'd desks/Lake view! Blt in gar + lg strge rm! Add'l assigned pkg. Wlking trail around lake. New HWH. Heat pump rec'ly serv'd!

Key facts

• Open floor plan
• Covered parking
• Community pool

Tags

• OPEN FLOOR PLAN
• COVERED PARKING
• VIEW OF THE LAKE
• COMMUNITY POOL
• WALKING PATH
• NEW ANDERSEN WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.2% in Covedale — 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.

Location & tenants

• Location reads 76/100 on livability (#235 in OH, #3,713 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, health & safety F.
• Oak Hills Local (suburban): math 68% / reading 70% proficiency, ranked #141 of 656 in OH (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 83 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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.
• Current owner paid $75k; list at $150k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-12,447
• Equity at exit: $22,365

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $5,152
• Equity at exit: $12,969

Cash invested: $42,000 (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 45233

• Active inventory: 83
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,015 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA est. from 2 same-building comps: −$373
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $182

Break-even live

Break-even rent $1,784

Max offer price $150,000

Occupancy floor 86%

Sensitivity live

Price	-10% $286	-5% $234	+0% $182	+5% $130	+10% $78
Rent	-10% $23	-5% $103	+0% $182	+5% $262	+10% $341
Rate	-1.0pp $258	-0.5pp $220	base $182	+0.5pp $143	+1.0pp $104

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5695 Victoryview Ln Cincinnati, OH	3.0	2.0	1140	$1,795	$1.57	4d	1	1.21mi
2964 Werkridge Dr Cincinnati, OH	3.0	3.0	1462	$2,300	$1.57	24d	1	1.36mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $150,000 Active 23 DOM
2. 2026-06-18
   days on market $150,000 Active 20 DOM
3. 2026-06-17
   days on market $150,000 Active 19 DOM
4. 2026-06-16
   days on market $150,000 Active 18 DOM
5. 2026-06-15
   days on market $150,000 Active 17 DOM
6. 2026-06-13
   days on market $150,000 Active 15 DOM
7. 2026-06-09
   days on market $150,000 Active 11 DOM
8. 2026-06-08
   days on market $150,000 Active 10 DOM
9. 2026-06-07
   days on market $150,000 Active 9 DOM
10. 2026-06-05
    days on market $150,000 Active 6 DOM
11. 2026-06-03
    days on market $150,000 Active 5 DOM
12. 2026-06-02
    days on market $150,000 Active 4 DOM
13. 2026-06-01
    days on market $150,000 Active 3 DOM
14. 2026-05-31
    days on market $150,000 Active 2 DOM

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

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,178
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − HOA: −$4,476
• − Depreciation: −$4,364
• Taxable income: $68
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $2,169/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

The home is in fair condition with some exterior repairs needed. It has good curb appeal and a good layout, making it a good candidate for moderate renovations to increase its value.

Repairs flagged

• Moderate siding — Weathered appearance
• Minor exterior paint — Slight discoloration

Value-add opportunities

• Resale paint exterior — Enhances curb appeal
• Resale repair siding — Improves home's overall appearance
• Rental landscape — Enhances curb appeal and attracts tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Weathered appearance	Moderate	$3,000–15,000
exterior paint · Slight discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Resale paint exterior — Enhances curb appeal ↑
• Resale repair siding — Improves home's overall appearance ↑
• Rental landscape — Enhances curb appeal and attracts tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oak Hills Local
• NCES district ID: 3904737
• Math proficiency: 68% ▼ -11.00%
• Reading proficiency: 70% ▼ -8.00%
• Median HH income: $67,889
• Composite: 60.25/100
• National rank: #858
• State rank: #141 of 656 in OH

Livability — Covedale

• Score: 76/100
• State rank: #235
• US rank: #3713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hamilton · 838,887 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 15,362
• Household income: $110,408
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 7.9

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 3%
• Common ancestry: Slovak 3% Iranian 2% Romanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.43%
• Current HPI: 214.0365
• 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

+40.3% since first listed

6 events — show timeline

• 2026-05-30 Listed $150,000 FSBO.com
• 2015-12-21 Sold (MLS) $75,000 Cincy MLS
• 2015-11-10 Contingent — Cincy MLS
• 2015-10-28 Listed $79,900 Cincy MLS
• 2001-07-05 Sold (MLS) $106,000 Cincy MLS
• 2001-03-01 Listed $106,900 Cincy MLS