Harmony Plan

Mount Repose, OH 45122

$324,900F

3 bd · 2.0 ba · 1,498 sqft · Built — · SingleFamily · Active · 250 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,475/mo
• Mortgage (P&I): −$2,166
• Tax + insurance: −$689
• HOA: −$0
• Vac / Maint / Mgmt: −$520
• Net cashflow: $-900/mo
• Annual: $-10,797/yr
• Cap rate: 3.68%
• Cash-on-cash: -9.33%
• DSCR: 0.58
• 1% rule: 0.60%
• Cash to close: $115,673

Investor read

• This is a 3-bed/2.0-bath single-family listed at $325k.
• At list price, monthly cash flow is $-900 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (23.8% below list).
• It's been on market 250 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (23.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#177 in OH, #2,752 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Goshen Local (rural): math 66% / reading 66% proficiency, ranked #193 of 656 in OH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Marr/Cook Elementary School (666 students, 35% FRL); Goshen Middle School (math 59% / reading 62%, grade B+, #259 of 654 statewide, top 40%, 688 students, 46% FRL); Goshen High School (math 62% / reading 68%, grade B, #163 of 781 statewide, top 21%, 847 students, 43% FRL).
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $47k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 3.7% vs local median 2.8% in Mount Repose — 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.
• This rent runs 35% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 250 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.