198 Cincinnati Ave · Xenia, OH 45385

$210,000

4 bd · 2.5 ba · 2,439 sqft · SingleFamily public records · 7 Days on market

Built 1900 6,404 sqft lot Est $256k · 18% 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).

• Cash flow +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious home has so much potential & charm w/ many original historic details. .. Starting with the wrap-around front porch that greets you when you arrive. Inside you will find tall ceilings, a beautiful open stair case, large windows, built-in bookcases, hutches & more! After you enter into the foyer, there is a formal living room w/ gorgeous fireplace mantle & bay window. Next there is a family room/den. Off of the family room is a FIRST FLOOR master with full en suite bath. There's a large dining room w/ stunning bay window overlooking the backyard and built-in hutch. Kitchen and a den/workshop finish off the first floor. Upstairs, there are 3 huge bedrooms with generous closets (including walk-in) and a 2nd full bath. Out back, enjoy beautiful landscaping with a garden area (including stone wall gardens, a covered patio, perennial flowers, a shed and detached garage. Additional lot located behind alley provides additional parking.

Key facts

• Formal dining room
• Built-in bookcases
• Oversized windows

Tags

• WRAPAROUND FRONT PORCH
• ELEGANT OPEN STAIRCASE
• OVERSIZED WINDOWS
• BUILT-IN BOOKCASES
• FORMAL DINING ROOM
• STRIKING FIREPLACE MANTEL

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached one-car garage with garage door opener
• Utilities: Central air conditioning; Steam heat; Gas water heater
• Home design: Two-story residential home; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Front porch; Patio

Interior

• Kitchen: Kitchen on main level (20 x 30)
• Bedrooms: Second-floor bedroom (13 x 12); Second-floor bedroom (16 x 13); Second-floor bedroom (13 x 10)
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Steam heating; Central air conditioning
• Interior features: Ceiling fans; Recently remodeled; Walk-in closets; Decorative fireplace; Full unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/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 $203k (3.3% below list).
• Recommended offer: $203k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.6% in Xenia — 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 75/100 on livability (#244 in OH, #3,892 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: amenities D+, commute F, employment F.
• Xenia Community City (suburban): math 42% / reading 53% proficiency, ranked #478 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.5%/yr); 234 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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 $118k; list at $210k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,023 (3.3% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $256,095
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 W 3rd St	0.28mi	4/1.5	2,304 (-6%)	12mo	$190,000	$82	64
789 Ormsby Dr	0.66mi	4/3.0	2,476 (+2%)	15mo	$256,623	$104	53
843 Cincinnati Ave	0.61mi	4/1.5	2,254 (-8%)	21mo	$237,000	$105	37
502 N King St	0.67mi	4/3.5	2,665 (+9%)	22mo	$339,500	$127	31
483 N King St	0.67mi	3/2.5 (-1)	2,201 (-10%)	22mo	$309,000	$140	29

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 · 5.48% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-14,504
• Equity at exit: $31,312

10-year hold

• IRR: 5.8%
• Equity multiple: 1.48×
• Total profit: $28,202
• Equity at exit: $18,157

Cash invested: $58,800 (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 45385

• Rents YoY: 5.5%
• Active inventory: 234
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,030 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$190 /mo · $2,278/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $225

Break-even live

Break-even rent $1,745

Max offer price $210,000

Occupancy floor 84%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
329 Cincinnati Ave Xenia, OH	3.0	1.5	1866	$2,300	$1.23	23d	1	0.12mi
153 W 3rd St Xenia, OH	3.0	1.5	2006	$1,450	$0.72	2d	1	0.18mi

Listing history 7 events

1. 2026-06-10
   status $210,000 Pending 7 DOM
2. 2026-06-09
   days on market $210,000 Active 7 DOM
3. 2026-06-08
   days on market $210,000 Active 6 DOM
4. 2026-06-07
   days on market $210,000 Active 5 DOM
5. 2026-06-05
   days on market $210,000 Active 2 DOM
6. 2026-06-03
   remarks 689-char remark
7. 2026-06-03
   listed $210,000 Active 1 DOM

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $2,278 · $190/mo
• Projected year-2 tax: $2,777 · $231/mo
• Expected delta: +$499/yr (+$42/mo · 21.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,363
• − Mortgage interest: −$11,763
• − Property taxes: −$2,278
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$6,109
• Taxable loss: −$736
• Est. tax savings @ 24.0%: +$177
• After-tax cash flow: $2,880/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: Xenia Community City
• NCES district ID: 3904515
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $46,206
• Composite: 40.31/100
• National rank: #3752
• State rank: #478 of 656 in OH

Livability — Xenia

• Score: 75/100
• State rank: #244
• US rank: #3892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Xenia, OH
• County: Greene County · 132,120 people
• City population: 40,617
• Metro: Dayton-Kettering, OH
• Population (ZIP): 40,617
• Household income: $76,564
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 906.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 170,301 people
• By 2030: 171,840 · +0.9%
• By 2040: 171,408 · +0.7%
• By 2050: 167,806 · -1.5%
• By 2075: 154,430 · -9.3%
• By 2100: 138,669 · -18.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Black 6% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: R (+19.8) · D 39.5% · R 59.3% · Other 1.2%
• 2008→2024 swing: -1.4pp toward R · 2008: -18.4pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+19.5 2016: R+24.5 2012: R+21.8 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.15%
• Current HPI: 239.0473
• Rent YoY: ▲ 5.48%
• Metro: Dayton-Kettering, OH
• 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

+255.9% since first listed

16 events — show timeline

• 2026-06-02 Listed $210,000 Dayton MLS
• 2021-06-18 Sold (Public Records) $118,000 Public Records
• 2021-06-07 Sold (MLS) $118,000 Dayton MLS
• 2021-06-07 Sold (MLS) $118,000 Dayton MLS
• 2021-05-01 Contingent — Dayton MLS
• 2021-04-28 Price Changed $118,000 Dayton MLS
• 2021-04-27 Price Changed $124,500 Dayton MLS
• 2021-04-08 Listed $127,000 Dayton MLS
• 2015-08-04 Sold (Public Records) $74,900 Public Records
• 2015-07-20 Sold (MLS) $74,900 Dayton MLS
• 2015-07-20 Sold (MLS) $74,900 Dayton MLS
• 2015-06-16 Pending — Dayton MLS
• 2015-06-03 Listed $74,900 Dayton MLS
• 2012-12-31 Listing Removed — Dayton MLS
• 2010-01-27 Listed $69,900 Dayton MLS
• 2002-06-25 Sold (Public Records) $59,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $2,278 · +4.3% YoY. Source: county tax records.