605 Diamond Loop · Middletown, OH 45044

$270,000

3 bd · 2.0 ba · 1,345 sqft · SingleFamily public records · 25 Days on market

Built 2022 7,475 sqft lot Est $204k · 32% over

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Why this score? — see what drove the F 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
• DSCR +4.3/10.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

New construction at a fantastic price point. Don't miss this new 3 bedroom home with a spacious back patio. Owners suite will feature walk in closet with bath. Finished space will be 1,370 sq ft.

Key facts

• 7,475 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Finance

• Other: Lot approx. 0.1716 acres; Directions: South on Vermont St, left on Diamond Loop
• HOA & community: No HOA

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public sewer; Water available at the street; Gas available at the street
• Home design: Ranch-style single-family home; One story; Slab foundation
• Construction: Vinyl siding
• Exterior features: Vinyl windows; Shingle roof

Interior

• Kitchen: Kitchen roughly 12 x 12
• Bedrooms: Three bedrooms, all on the main level; Primary bedroom approx. 11 x 14; Second bedroom approx. 10 x 11; Third bedroom approx. 10 x 10
• Bathrooms: Two full bathrooms on the main level; Primary bathroom features a shower
• Heating & cooling: Forced air heating (gas); Central air conditioning; Electric water heater
• Interior features: Six total rooms
• Laundry & utility: Main-level laundry room (approx. 5 x 5)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-25 ($-297/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (12.5% below list).
• Recommended offer: $236k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Middletown — 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 72/100 on livability (#389 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D+, commute F.
• Middletown City (suburban): math 21% / reading 28% proficiency, ranked #610 of 656 in OH (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Amanda Elementary School (math 17% / reading 27%, grade F, #1,242 of 1,584 statewide, top 80%, 374 students, 0% FRL); Middletown Middle School (math 24% / reading 33%, grade F, #580 of 654 statewide, top 89%, 941 students, 0% FRL); Middletown High School (math 18% / reading 19%, grade F, #683 of 781 statewide, top 88%, 1,753 students, 0% FRL) — zoned schools average 0% FRL vs 69% district-wide (69 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.3%/yr); 203 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• This rent runs 38% of the median local income ($74k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $220k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,266 (12.5% below list)

Questions for the listing agent

1. 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?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $204,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
589 Diamond Loop	0.04mi	3/2.0	1,352 (+0%)	1mo	$235,000	$174	96
2618 Ruby Ln	0.11mi	3/2.0	1,379 (+2%)	1mo	$238,900	$173	90
2638 Ruby Ln	0.10mi	3/2.5	1,344 (-0%)	11mo	$235,000	$175	84
514 Granada Ave	0.29mi	3/2.0	1,344 (-0%)	6mo	$182,500	$136	81
604 Diamond Loop	0.03mi	3/2.0	1,180 (-12%)	1mo	$265,000	$225	77
608 Diamond Loop	0.03mi	3/1.0	1,171 (-13%)	10mo	$247,000	$211	64
1102 Forrer St	0.43mi	3/2.0	1,237 (-8%)	6mo	$177,000	$143	61
1401 Hood Ave	0.62mi	3/2.0	1,440 (+7%)	4mo	$170,500	$118	56
3202 Ben Harrison St	0.42mi	3/1.0	1,512 (+12%)	0mo	$80,000	$53	56
3103 Locust St	0.54mi	3/1.0	1,152 (-14%)	4mo	$175,000	$152	44
3104 Locust St	0.58mi	3/2.0	1,176 (-13%)	15mo	$158,000	$134	40
3106 Rufus St	0.69mi	3/1.0	1,164 (-14%)	2mo	$164,900	$142	39

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 · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.51×
• Total profit: $-37,150
• Equity at exit: $40,258

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,536
• Equity at exit: $23,345

Cash invested: $75,600 (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 45044

• Rents YoY: 6.3%
• Active inventory: 203
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,363 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$296 /mo · $3,557/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-25

Break-even live

Break-even rent $2,394

Max offer price $265,621

Occupancy floor 96%

Sensitivity live

Price	-10% $128	-5% $52	+0% $-25	+5% $-101	+10% $-178
Rent	-10% $-211	-5% $-118	+0% $-25	+5% $69	+10% $162
Rate	-1.0pp $111	-0.5pp $44	base $-25	+0.5pp $-95	+1.0pp $-166

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1419 Oxford State Rd Middletown, OH	2.0	1.0	900	$2,495	$2.77	3d	1	0.76mi
2000 Pearl St Middletown, OH	2.0	1.0	900	$3,500	$3.89	3d	4	1.03mi
907 8th Ave Middletown, OH	3.0	1.5	1380	$1,400	$1.01	19d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $270,000 Active 25 DOM
2. 2026-06-18
   days on market $270,000 Active 22 DOM
3. 2026-06-17
   days on market $270,000 Active 21 DOM
4. 2026-06-16
   days on market $270,000 Active 20 DOM
5. 2026-06-15
   days on market $270,000 Active 19 DOM
6. 2026-06-13
   days on market $270,000 Active 17 DOM
7. 2026-06-09
   days on market $270,000 Active 13 DOM
8. 2026-06-08
   days on market $270,000 Active 12 DOM
9. 2026-06-07
   days on market $270,000 Active 11 DOM
10. 2026-06-03
    days on market $270,000 Active 7 DOM
11. 2026-06-02
    days on market $270,000 Active 6 DOM
12. 2026-06-01
    days on market $270,000 Active 5 DOM
13. 2026-05-31
    days on market $270,000 Active 4 DOM
14. 2026-05-27
    listed $270,000 Active
15. 2022-10-07
    soldstatus $220,000 Sold 196-char remark

    Show marketing remark (196 chars)

    New construction at a fantastic price point. Don't miss this new 3 bedroom home with a spacious back patio. Owners suite will feature walk in closet with bath. Finished space will be 1,370 sq ft.

16. 2022-07-28
    historical Contingency Pending 196-char remark

    Show marketing remark (196 chars)

    New construction at a fantastic price point. Don't miss this new 3 bedroom home with a spacious back patio. Owners suite will feature walk in closet with bath. Finished space will be 1,370 sq ft.

17. 2022-06-27
    listed $220,000 Under Construction 196-char remark

    Show marketing remark (196 chars)

    New construction at a fantastic price point. Don't miss this new 3 bedroom home with a spacious back patio. Owners suite will feature walk in closet with bath. Finished space will be 1,370 sq ft.

ⓘ 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: $3,557 · $296/mo
• Projected year-2 tax: $3,885 · $324/mo
• Expected delta: +$327/yr (+$27/mo · 9.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 75% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,352
• − Mortgage interest: −$15,124
• − Property taxes: −$3,557
• − Insurance: −$2,148
• − Repairs & maintenance: −$2,268
• − Management: −$2,268
• − Depreciation: −$7,855
• Taxable loss: −$4,868
• Est. tax savings @ 24.0%: +$1,168
• After-tax cash flow: $871/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: Middletown City
• NCES district ID: 3904440
• Math proficiency: 21% ▼ -17.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,650
• Composite: 20.35/100
• National rank: #8605
• State rank: #610 of 656 in OH

Livability — Middletown

• Score: 72/100
• State rank: #389
• US rank: #6338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Butler County · 381,674 people
• City population: 96,117
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 56,217
• Household income: $73,732
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1532.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 387,706 people
• By 2030: 392,028 · +1.1%
• By 2040: 395,307 · +2.0%
• By 2050: 391,116 · +0.9%
• By 2075: 378,642 · -2.3%
• By 2100: 343,248 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 12% Two or more races 8% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+26.3) · D 36.4% · R 62.7%
• 2008→2024 swing: -3.6pp toward R · 2008: -22.6pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+24.0 2016: R+28.3 2012: R+26.2 2008: R+22.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.07%
• Current HPI: 219.0479
• Rent YoY: ▲ 6.31%
• 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

+22.7% since first listed

4 events — show timeline

• 2026-05-27 Listed $270,000 Cincy MLS
• 2022-10-07 Sold (MLS) $220,000 Cincy MLS
• 2022-07-28 Contingent — Cincy MLS
• 2022-06-27 Listed $220,000 Cincy MLS

Property tax history

+57.6%/yr

Latest (2025): $3,557 · +4.5% YoY. Source: county tax records.