1082 Warvel Rd

Hamilton, OH 45013

$100,000F

3 bd · 1.0 ba · 1,604 sqft · Built 1918 · SingleFamily · Pending · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,865/mo
• Mortgage (P&I): −$2,069
• Tax + insurance: −$410
• HOA: −$0
• Vac / Maint / Mgmt: −$392
• Net cashflow: $-1,005/mo
• Annual: $-12,065/yr
• Cap rate: 3.24%
• Cash-on-cash: -10.92%
• DSCR: 0.51
• 1% rule: 0.47%
• Cash to close: $110,484

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 54 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• 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 73/100 on livability (#332 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities C-, employment D.
• Ross Local (rural): math 71% / reading 76% proficiency, ranked #95 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Elda Elementary School (math 81% / reading 69%, grade A, #266 of 1,584 statewide, top 17%, 375 students, 28% FRL); Ross Middle School (math 65% / reading 75%, grade A, #136 of 654 statewide, top 22%, 726 students, 24% FRL); Ross High School (math 71% / reading 84%, grade A-, #52 of 781 statewide, top 7%, 933 students, 20% FRL) — zoned schools at 24% FRL track the district average.
• Watch-outs: property tax is 2.9% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.7%/yr); 121 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• Cap rate 3.2% vs local median 5.1% in Hamilton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 30% of the median local income ($74k/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 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.