9971 Greathouse Rd · Winchester, OH 45697

$129,999

3 bd · 2.0 ba · 1,216 sqft · Land · 1 Days on market

Built 2000 3.20 ac lot

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Why this score? — see what drove the D+ 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 +11.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Land with all the things needed to build your dream home in a country setting. 3.2 acres with electric, water, storage shed, and septic tank. Don't want to build? One single wide trailer comes on the property with 3bd and 2ba.

Key facts

• Covered porch
• 3.2 acres
• Carport

Tags

• 3.2 ACRES
• COVERED PORCH
• CARPORT

Property features AI

Exterior

• Parking: One carport space
• Utilities: Public water; Private sewer
• Home design: Single-family residence; One-level home; Built in 2000; No shared/common walls
• Construction: Foundation: Other
• Exterior features: Approximately 3.2-acre lot

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump and propane heating; Central air conditioning
• Interior features: Insulated windows throughout; Living area of 1216

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $130k.

Deal economics

• At list price, monthly cash flow is $-35 ($-416/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (15.9% below list).
• Recommended offer: $109k (15.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#289 in OH, #4,753 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Eastern Local (rural): math 51% / reading 61% proficiency, ranked #350 of 656 in OH (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; solid renter incomes; 147 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Brown County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $59k; list at $130k implies a 120% gain — meaningful room to come down on a strong offer.

Recommended offer $109,331 (15.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.88×
• Total profit: $68,609
• Equity at exit: $117,113

10-year hold

• IRR: 20.9%
• Equity multiple: 6.60×
• Total profit: $203,811
• Equity at exit: $252,559

Cash invested: $36,400 (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 45697

• Home prices YoY: 9.1%
• Active inventory: 16
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,093 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-35

Break-even live

Break-even rent $1,137

Max offer price $124,981

Occupancy floor 98%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 486-char remark
2. 2026-06-18
   listed $129,999 Active 1 DOM

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

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 ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,120
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$3,782
• Taxable loss: −$2,643
• Est. tax savings @ 24.0%: +$634
• After-tax cash flow: $218/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: Eastern Local
• NCES district ID: 3904603
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $50,895
• Composite: 47.81/100
• National rank: #2226
• State rank: #350 of 656 in OH

Livability — Winchester

• Score: 74/100
• State rank: #289
• US rank: #4753

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Adams · 32,832 people
• Population (ZIP): 6,138
• Household income: $75,075
• Rent vs Own: 17.3% rent · 82.7% own

Population outlook (Brown County) Hauer SSP2

• Today (2025): 41,243 people
• By 2030: 39,382 · -4.5%
• By 2040: 35,196 · -14.7%
• By 2050: 30,743 · -25.5%
• By 2075: 21,870 · -47.0%
• By 2100: 15,069 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Serbian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Other Indo-European 1%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+61.5) · D 19.0% · R 80.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -23.3pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+57.4 2016: R+52.2 2012: R+25.1 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.08%
• Current HPI: 289.3931
• Rent YoY: —
• Metro: —
• 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

+120.3% since first listed

6 events — show timeline

• 2026-06-17 Listed $129,999 CBRMLS
• 2020-11-20 Sold (MLS) $59,000 Cincy MLS
• 2020-10-15 Contingent — Cincy MLS
• 2020-10-14 Relisted — Cincy MLS
• 2020-10-12 Contingent — Cincy MLS
• 2020-10-07 Listed $59,000 Cincy MLS