8405 Pippin Rd · Groesbeck, OH 45239

$179,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 28 Days on market

Built 1958 7,405 sqft lot Est $213k · 15% under

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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).

• ARV discount +14.5/15.0
• Cash flow +14.0/30.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home! HVAC, siding and hot water heater '08. Newer roof and windows. All appliances stay. 2 car detached garage and storage shed.

Key facts

• Spacious yard
• Ranch-style home
• 7,405 sq ft lot

Tags

• RANCH-STYLE HOME
• SPACIOUS YARD
• BRIGHT AND INVITING LAYOUT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport; Driveway; Two garage spaces
• Utilities: Public water; Public sewer; Natural gas
• Home design: Ranch-style single family home; One level (single-story); Slab foundation
• Construction: Aluminum siding; Shingle roof
• Exterior features: Aluminum and vinyl insulated windows; Residential zoning

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator
• Bedrooms: Three bedrooms, all on main level; Primary bedroom approximately 10 x 12; Second bedroom approximately 10 x 10; Third bedroom approximately 9 x 9
• Flooring: Tile in kitchen; Carpet in living room
• Bathrooms: One full bathroom on main level
• Heating & cooling: Forced air heating; Central air conditioning; Gas water heating
• Interior features: Five total rooms; Wall-to-wall carpet in the living room; Tile floor in the kitchen
• Laundry & utility: Main-level laundry room (approx. 7 x 10)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $24 ($294/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 $156k (13.5% below list).
• Recommended offer: $156k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#48 in OH, #629 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+.
• Northwest Local (suburban): math 38% / reading 46% proficiency, ranked #508 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 56 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 31% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,612 (13.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.86% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $212,760
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8729 Morningstar Ln	0.43mi	3/1.0	1,040 (-4%)	2mo	$200,000	$192	72
2351 Mercury Ave	0.42mi	3/2.0	1,040 (-4%)	0mo	$232,000	$223	70
8724 Neptune Dr	0.47mi	3/2.0	1,040 (-4%)	2mo	$210,000	$202	66
8796 Neptune Dr	0.56mi	3/2.0	1,040 (-4%)	1mo	$205,000	$197	63
8695 Neptune Dr	0.43mi	3/1.5	1,040 (-4%)	12mo	$192,000	$185	62
8680 Neptune Dr	0.41mi	3/1.0	1,040 (-4%)	21mo	$210,000	$202	57
8670 Zodiac Ave	0.39mi	3/2.5	1,040 (-4%)	16mo	$130,000	$125	56
8777 Morningstar Ln	0.53mi	3/1.5	1,040 (-4%)	15mo	$217,500	$209	54
7068 Mulberry St	0.74mi	3/1.5	1,096 (+2%)	8mo	$203,000	$185	54
2389 Aquarius Dr	0.55mi	3/2.0	1,040 (-4%)	12mo	$219,900	$211	54
8865 Neptune Dr	0.65mi	3/1.5	1,040 (-4%)	14mo	$194,000	$187	50

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 · 6.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.55×
• Total profit: $-22,755
• Equity at exit: $26,824

10-year hold

• IRR: 0.8%
• Equity multiple: 1.07×
• Total profit: $3,308
• Equity at exit: $15,554

Cash invested: $50,372 (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 45239

• Home prices YoY: -32.8%
• Rents YoY: 6.0%
• Active inventory: 56
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$943
• Tax from tax record: −$186 /mo · $2,238/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $24

Break-even live

Break-even rent $1,525

Max offer price $179,900

Occupancy floor 93%

Sensitivity live

Price	-10% $126	-5% $75	+0% $24	+5% $-26	+10% $-77
Rent	-10% $-98	-5% $-37	+0% $24	+5% $86	+10% $147
Rate	-1.0pp $115	-0.5pp $70	base $24	+0.5pp $-22	+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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8879 Zodiac Dr Cincinnati, OH	3.0	2.0	1040	$1,781	$1.71	24d	1	0.61mi
7032 La Boiteaux Ave Cincinnati, OH	4.0	1.0	1200	$1,800	$1.50	24d	1	0.90mi
6834 Betts Ave Cincinnati, OH	4.0	1.5	1426	$1,695	$1.19	24d	1	0.92mi
1837 W Galbraith Rd Cincinnati, OH	2.0	2.0	1087	$1,500	$1.38	24d	1	0.92mi
9128 Orangewood Dr Cincinnati, OH	4.0	1.0	1359	$1,495	$1.10	24d	1	0.95mi
1908 Emerson Ave Cincinnati, OH	4.0	1.0	760	$1,550	$2.04	24d	1	1.08mi
1834 Emerson Ave Cincinnati, OH	2.0	1.0	1187	$1,500	$1.26	24d	1	1.13mi
1740 Bising Ave North College Hill, OH	3.0	2.0	1235	$1,697	$1.37	2d	6	1.13mi
1804 Waltham Ave Cincinnati, OH	2.0	1.0	1186	$1,425	$1.20	8d	1	1.19mi
1667 Lakenoll Dr Mt Healthy, OH	1.0–2.0	1.0–1.5	817	$1,385	$1.69	4d	7	1.23mi
1604 W Galbraith Rd Unit F North College Hill, OH	2.0	1.0	1250	$1,150	$0.92	15d	1	1.24mi
2512 Rack Ct Unit 3 Cincinnati, OH	2.0	1.0	900	$1,125	$1.25	24d	1	1.35mi
2536 Rack Ct Cincinnati, OH	2.0	1.0	840	$900	$1.07	24d	1	1.36mi
5800 Renee Ct Cincinnati, OH	2.0	1.0	775	$1,099	$1.42	22d	1	1.37mi
9500 Ridgemoor Ave Cincinnati, OH	3.0	1.0	1344	$1,600	$1.19	8d	1	1.40mi
5856 Renee Ct Cincinnati, OH	2.0	1.0	775	$1,099	$1.42	24d	1	1.43mi
7601 Hamilton Ave Unit 2-3 Cincinnati, OH	2.0	1.0	1250	$2,000	$1.60	24d	1	1.43mi

Listing history 22 events

1. 2026-06-21
   pricedays on market $179,900 Active 28 DOM
2. 2026-06-18
   days on market $189,900 Active 26 DOM
3. 2026-06-17
   days on market $189,900 Active 25 DOM
4. 2026-06-16
   days on market $189,900 Active 24 DOM
5. 2026-06-15
   days on market $189,900 Active 23 DOM
6. 2026-06-13
   days on market $189,900 Active 21 DOM
7. 2026-06-12
   days on market $189,900 Active 20 DOM
8. 2026-06-09
   days on market $189,900 Active 17 DOM
9. 2026-06-08
   days on market $189,900 Active 16 DOM
10. 2026-06-08
    days on market $189,900 Active 15 DOM
11. 2026-06-07
    days on market $189,900 Active 14 DOM
12. 2026-06-04
    days on market $189,900 Active 11 DOM
13. 2026-06-02
    days on market $189,900 Active 10 DOM
14. 2026-06-01
    days on market $189,900 Active 9 DOM
15. 2026-05-31
    days on market $189,900 Active 8 DOM
16. 2026-05-23
    listed $189,900 Active
17. 2024-11-21
    soldstatus $10,761,000
18. 2015-08-03
    soldstatus $49,900
19. 2015-07-23
    soldstatus $49,000 Sold 143-char remark

    Show marketing remark (143 chars)

    Great starter home! HVAC, siding and hot water heater '08. Newer roof and windows. All appliances stay. 2 car detached garage and storage shed.

20. 2015-06-18
    historical Accept Backup Offers 143-char remark

    Show marketing remark (143 chars)

    Great starter home! HVAC, siding and hot water heater '08. Newer roof and windows. All appliances stay. 2 car detached garage and storage shed.

21. 2015-06-16
    listed $59,900 Active 143-char remark

    Show marketing remark (143 chars)

    Great starter home! HVAC, siding and hot water heater '08. Newer roof and windows. All appliances stay. 2 car detached garage and storage shed.

22. 1992-04-21
    soldstatus $43,000

ⓘ 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: $2,238 · $186/mo
• Projected year-2 tax: $2,522 · $210/mo
• Expected delta: +$284/yr (+$24/mo · 12.7%)

ⓘ 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 ≥103°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: $18,673
• − Mortgage interest: −$10,077
• − Property taxes: −$2,238
• − Insurance: −$900
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − Depreciation: −$5,233
• Taxable loss: −$2,762
• Est. tax savings @ 24.0%: +$663
• After-tax cash flow: $957/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: Northwest Local
• NCES district ID: 3904736
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $58,765
• Composite: 36.97/100
• National rank: #4528
• State rank: #508 of 656 in OH

Livability — Groesbeck

• Score: 84/100
• State rank: #48
• US rank: #629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Groesbeck, OH
• County: Hamilton County · 701,295 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 29,607
• Household income: $60,324
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1566.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 50% Black 35% Two or more races 8% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 4% · India, Canada
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 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: ▼ -114.46%
• Current HPI: 234.6033
• Rent YoY: ▲ 6.00%
• 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

+341.6% since first listed

7 events — show timeline

• 2026-05-23 Listed $189,900 Cincy MLS
• 2024-11-21 Sold (Public Records) $10,761,000 Public Records
• 2015-08-03 Sold (Public Records) $49,900 Public Records
• 2015-07-23 Sold (MLS) $49,000 Cincy MLS
• 2015-06-18 Contingent — Cincy MLS
• 2015-06-16 Listed $59,900 Cincy MLS
• 1992-04-21 Sold (Public Records) $43,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,238 · +5.0% YoY. Source: county tax records.