200 1st St

Addyston, OH 45001

$139,500D+

2 bd · 1.0 ba · 768 sqft · Built 1919 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,096/mo
• Mortgage (P&I): −$732
• Tax + insurance: −$288
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $-154/mo
• Annual: $-1,847/yr
• Cap rate: 5.45%
• Cash-on-cash: -3.02%
• DSCR: 0.87
• 1% rule: 0.79%
• Cash to close: $39,060

Investor read

• This is a 2-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (21.4% below list).
• It's been on market 87 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (21.4% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($964 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#556 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: health & safety C-, crime D+, employment D+.
• Three Rivers Local (rural): math 58% / reading 61% proficiency, ranked #256 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Three Rivers Elementary (math 65% / reading 52%, grade B-, #708 of 1,584 statewide, top 45%, 793 students, 35% FRL); Taylor Middle School (math 54% / reading 65%, grade B, #271 of 654 statewide, top 43%, 665 students, 40% FRL); Taylor High School (math 24% / reading 67%, grade D-, #463 of 781 statewide, top 59%, 644 students, 32% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 2 sale attempts since 3y 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.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?