720 Indian Hill Rd

Terrace Park, OH 45174

$599,000F

3 bd · 2.0 ba · 1,428 sqft · Built 1960 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,300/mo
• Mortgage (P&I): −$3,141
• Tax + insurance: −$940
• HOA: −$0
• Vac / Maint / Mgmt: −$483
• Net cashflow: $-2,264/mo
• Annual: $-27,174/yr
• Cap rate: 1.76%
• Cash-on-cash: -16.20%
• DSCR: 0.28
• 1% rule: 0.38%
• Cash to close: $167,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $599k.
• At list price, monthly cash flow is $-2k ($-27k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (66.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (61.6% below list).
• It's been on market 37 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (66.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#293 in OH, #4,781 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Mariemont City (suburban): math 89% / reading 92% proficiency, ranked #2 of 656 in OH (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 4 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $75k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $126k; list at $599k implies a 375% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 13% of the median local income ($206k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 37 days. Have you received any prior offers? Is the seller open to a 67% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.