10845 Lake Thames Dr · Montgomery, OH 45242

$189,000

2 bd · 2.5 ba · 1,082 sqft · Townhouse · 12 Days on market

Built 1978 Good condition 2.30 ac lot Est $210k · 10% under $475/mo HOA · 21% of rent

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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 +14.1/30.0
• ARV discount +12.0/15.0
• Schools +7.4/10.0
• 1% rule +7.1/10.0
• DSCR +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in a sought-after neighborhood in the Sycamore School District and easy access to Blue Ash, Montgomery, and Mason, 10845 Lake Thames Dr is the one you've been waiting for. With restaurants, shopping, and major corridors just minutes away, the lifestyle here is easy living. Enjoy tennis courts, swimming, playgrounds, walking trails and exterior maintenance. Snow removal and water/trash also included in HOA fee. 1 car port and 1 car assigned spot. Inside, you'll find 1,600 square feet of comfortable living with 2 bedrooms and 2.5 baths. The finished basement is a true bonus, complete with a cozy fireplace and wet bar, perfect for entertaining or relaxing. Step outside to your own priv

Key facts

• Playgrounds
• Tennis courts
• Swimming

Tags

• SYCAMORE SCHOOL DISTRICT
• EASY ACCESS TO BLUE ASH
• TENNIS COURTS
• SWIMMING
• PLAYGROUNDS
• WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $29 ($351/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Cap rate 6.5% vs local median 1.9% in Montgomery — 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 82/100 on livability (#86 in OH, #1,249 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F.
• Sycamore Community City (suburban): math 83% / reading 84% proficiency, ranked #30 of 656 in OH (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 55 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $189,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $209,908
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10555 Montgomery Rd #5	0.54mi	2/2.0	990 (-8%)	7mo	$175,000	$177	53
10555 Montgomery Rd #1	0.54mi	2/2.0	990 (-8%)	11mo	$285,000	$288	49
10555 Montgomery Rd Unit 15D	0.54mi	2/2.0	990 (-8%)	15mo	$190,000	$192	46
10555 Montgomery Rd #19	0.54mi	2/2.0	990 (-8%)	15mo	$192,000	$194	46

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

Projected returns pro-forma

-3.0% appreciation · 5.47% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.57×
• Total profit: $-22,602
• Equity at exit: $28,181

10-year hold

• IRR: 2.1%
• Equity multiple: 1.17×
• Total profit: $9,232
• Equity at exit: $16,341

Cash invested: $52,920 (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 45242

• Rents YoY: 5.5%
• Active inventory: 55
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,292 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$475
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $29

Break-even live

Break-even rent $2,255

Max offer price $189,000

Occupancy floor 94%

Sensitivity live

Price	-10% $160	-5% $95	+0% $29	+5% $-36	+10% $-101
Rent	-10% $-152	-5% $-61	+0% $29	+5% $120	+10% $210
Rate	-1.0pp $124	-0.5pp $77	base $29	+0.5pp $-20	+1.0pp $-70

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7950 Village Dr Cincinnati, OH	1.0–2.0	1.0–2.5	1405	$2,415	$1.72	2d	15	0.16mi
10555 Montgomery Rd Montgomery, OH	1.0–2.0	1.0–2.5	1057	$2,445	$2.31	45d	2	0.57mi
10555 Montgomery Rd Montgomery, OH	2.0	2.5	1460	$2,445	$1.67	2d	1	0.57mi
8075 Somerset Chase Cincinnati, OH	1.0–3.0	1.0–2.5	1385	$2,479	$1.79	2d	6	1.39mi
5720 Old Pfeiffer Ln Blue Ash, OH	3.0	1.0	1400	$2,350	$1.68	45d	1	1.44mi

HOA detail

• Monthly dues: $475 · $5,700/yr
• Likely covers: watertrashlandscapingsnow removalexterior maint.

Listing history 9 events

1. 2026-06-21
   days on market $189,000 Active 12 DOM
2. 2026-06-18
   days on market $189,000 Active 9 DOM
3. 2026-06-17
   days on market $189,000 Active 8 DOM
4. 2026-06-16
   days on market $189,000 Active 7 DOM
5. 2026-06-15
   days on market $189,000 Active 6 DOM
6. 2026-06-13
   days on market $189,000 Active 4 DOM
7. 2026-06-13
   days on market $189,000 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $189,000 Active 1 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,499
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − HOA: −$5,700
• − Depreciation: −$5,498
• Taxable loss: −$2,466
• Est. tax savings @ 24.0%: +$592
• After-tax cash flow: $943/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 · 13 photos

Good 75/100 Cosmetic rehab

This townhouse is in good condition with a good condition score of 75. It has a good kitchen, bathrooms, and exterior. The interior walls and paint could use some touch-ups. Painting the exterior and interior walls would significantly increase its resale and rental value.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both paint interior walls — improves interior appearance and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both paint interior walls — improves interior appearance and rental appeal ↑

ⓘ 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: Sycamore Community City
• NCES district ID: 3904486
• Math proficiency: 83% ▼ -4.00%
• Reading proficiency: 84% ▼ -2.00%
• Median HH income: $82,990
• Composite: 73.72/100
• National rank: #172
• State rank: #30 of 656 in OH

Livability — Montgomery

• Score: 82/100
• State rank: #86
• US rank: #1249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hamilton County · 701,295 people
• City population: 22,623
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 22,623
• Household income: $124,567
• Rent vs Own: 21.7% rent · 78.3% own
• Severe rent burden: 288.0

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 (75%)
• Race & ethnicity: White 75% Asian 9% Two or more races 6% Black 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 12% · Canada, Guatemala, China
• Languages at home: 87% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 2%

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: ▼ -337.76%
• Current HPI: 278.5015
• Rent YoY: ▲ 5.47%
• Metro: Cincinnati, OH-KY-IN
• 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

1 event — show timeline

• 2026-06-09 Listed $189,000 Cincy MLS