723 Grande Oaks Dr · South Lebanon, OH 45152

$453,900

4 bd · 2.5 ba · 2,841 sqft · SingleFamily public records · 43 Days on market

Built 2015 8,398 sqft lot $160/sqft · at area comps Est $456k · at est. $31/mo HOA · 1% of rent ↓ 24% since listing

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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 +18.2/30.0
• ARV discount +7.7/15.0
• Schools +6.1/10.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

Key facts

• 8,398 sq ft lot
• 2 garage spots
• Built 2015

Property features AI

Finance

• Other: Lease not considered
• HOA & community: HOA: Twenty One Oaks HOA; Annual association fee of $375 covering association dues, community landscaping, and professional management

Exterior

• Parking: Built-in 2-car garage; Driveway parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Traditional single-family home; Two levels; Poured foundation
• Construction: Aluminum siding and vinyl siding; Shingle roof
• Exterior features: Residential zoning; Vinyl windows

Interior

• Kitchen: Pantry; Eat-in kitchen; Vinyl and marble/granite/slate surfaces; Appliances included: Dishwasher, Garbage Disposal, Microwave, Oven/Range, Refrigerator
• Bedrooms: Five bedrooms total; Primary bedroom on level 2 (21 x 14); Bedroom 2 on level 2 (14 x 11); Bedroom 3 on level 2 (13 x 11); Bedroom 4 on level 2 (12 x 11); Bedroom 5 on level 1 (14 x 11)
• Flooring: Wall-to-wall carpet in living areas; Vinyl flooring in kitchen, breakfast area, and foyer
• Bathrooms: Three full bathrooms; Primary bathroom with shower; One full bathroom on level 1; Two full bathrooms on level 2
• Heating & cooling: Electric forced-air heating; Central air conditioning; Electric water heater
• Interior features: Attic storage; Ceiling fans; Recessed lighting; Smoke alarm; Loft/flex room; Full unfinished basement with bath rough-in and concrete floor; Total of 11 rooms
• Laundry & utility: Second-floor laundry room (10 x 7)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $454k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/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 $442k (2.7% below list).
• Recommended offer: $440k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.5% in South Lebanon — 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 74/100 on livability (#279 in OH, #4,589 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Little Miami Local (rural): math 67% / reading 70% proficiency, ranked #140 of 656 in OH (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 128 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• This rent runs 44% of the median local income ($120k/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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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 $390k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $440,283 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

• ARV (median comp): $456,257
• List price: $453,900
• Delta: -0.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5830 Turning Leaf Way	0.43mi	4/3.0	2,836 (-0%)	5mo	$425,000	$150	73
553 Auburn Grove Dr	0.59mi	4/2.5	2,848 (+0%)	2mo	$540,000	$190	71
5810 Turning Leaf Way	0.37mi	4/2.5	2,670 (-6%)	5mo	$429,900	$161	69
310 Red Cedar Ct	0.55mi	3/2.5 (-1)	2,906 (+2%)	1mo	$400,000	$138	64
6250 Avebury Ct	0.47mi	4/2.5	3,060 (+8%)	1mo	$480,000	$157	64
5805 Turning Leaf Way	0.38mi	3/3.0 (-1)	2,661 (-6%)	1mo	$430,000	$162	64
6203 Silver Wood Dr	0.27mi	3/3.0 (-1)	2,610 (-8%)	8mo	$370,000	$142	60
477 Auburn Grove Dr	0.63mi	3/2.5 (-1)	2,658 (-6%)	2mo	$575,000	$216	54
5900 Driftwood Ct	0.74mi	4/2.5	2,556 (-10%)	3mo	$425,000	$166	46
6076 Driftwood Ct	0.70mi	5/3.5 (+1)	2,980 (+5%)	8mo	$455,000	$153	44
833 Emerald Dr	0.67mi	4/3.5	2,560 (-10%)	7mo	$510,000	$199	43
6515 Thistle Grv	0.71mi	4/2.5	2,422 (-15%)	6mo	$421,000	$174	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-47,776
• Equity at exit: $67,678

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-8,316
• Equity at exit: $39,245

Cash invested: $127,092 (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 45152

• Home prices YoY: -31.1%
• Active inventory: 128
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,416 medium
• Mortgage (P&I): −$2,380
• Tax from tax record: −$484 /mo · $5,813/yr
• Insurance: −$189
• HOA: −$31
• Vacancy / Maint / Mgmt: −$927
• Net cashflow: $404

Break-even live

Break-even rent $3,905

Max offer price $453,900

Occupancy floor 86%

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: $113,475
• Closing costs: $13,617
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6976 Briarcliff Ct Maineville, OH	4.0	3.0	2475	$3,595	$1.45	16d	1	1.27mi
6965 Quellin Blvd Maineville, OH	5.0	2.5	3640	$7,500	$2.06	43d	1	1.27mi
1256 Carrington Pl Maineville, OH	4.0	2.5	3000	$2,521	$0.84	23d	1	1.35mi

HOA detail

• Monthly dues: $31 · $372/yr
• Likely covers: watertrash

Listing history 33 events

1. 2026-06-18
   days on market $453,900 Active 43 DOM
2. 2026-06-17
   days on market $453,900 Active 42 DOM
3. 2026-06-16
   days on market $453,900 Active 41 DOM
4. 2026-06-15
   days on market $453,900 Active 40 DOM
5. 2026-06-13
   pricedays on market $453,900 Active 38 DOM
6. 2026-06-09
   days on market $459,900 Active 34 DOM
7. 2026-06-08
   days on market $459,900 Active 33 DOM
8. 2026-06-07
   days on market $459,900 Active 32 DOM
9. 2026-06-03
   days on market $459,900 Active 28 DOM
10. 2026-06-02
    days on market $459,900 Active 27 DOM
11. 2026-06-01
    days on market $459,900 Active 26 DOM
12. 2026-05-31
    days on market $459,900 Active 25 DOM
13. 2026-05-06
    listed $459,900 Active 840-char remark
14. 2026-05-05
    historical 840-char remark

    Show marketing remark (840 chars)

    Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

15. 2026-04-15
    price $465,000 840-char remark

    Show marketing remark (840 chars)

    Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

16. 2026-04-07
    price $469,900 840-char remark

    Show marketing remark (840 chars)

    Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

17. 2026-03-06
    price $472,000 840-char remark

    Show marketing remark (840 chars)

    Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

18. 2026-01-29
    listed $477,000 Active 840-char remark

    Show marketing remark (840 chars)

    Spacious Fisher Homes resale offering 2,841 sq ft, 5 bedrooms, and 3 full baths in the desirable Twenty One Oaks community, served by Little Miami Schools. The first floor guest suite with full bath on first floor is perfect for multigenerational living or a private home office. Enjoy formal living and dining areas plus an open floor plan with a granite kitchen ideal for everyday living and entertaining. The second floor features a primary suite, huge loft, laundry room, and three additional bedrooms with two full baths. The full unfinished lower level is plumbed for a full bath, offering great future expansion potential. Situated on a premium private lot backing to wooded views. Recent updates include a newer water softener and garbage disposal. Conveniently located near shopping, dining, and schools in Hamilton Township.

19. 2025-12-21
    historical

    Show marketing remark (353 chars)

    Well maintained 2841 sqft Fisher Homes resale w 5 bdrms & 3 full baths in quaint Twenty One Oaks / Little Miami schools! Full unfinished lower level with full bath rough-in! 2nd floor w 4 bdrms, 2 fll bath & bonus room! 1st fl has a guest suite or could be quiet study! Newer water softener and garbage disposal! Close to shops, dining, schools!

20. 2025-10-14
    listed $485,000 Active

    Show marketing remark (353 chars)

    Well maintained 2841 sqft Fisher Homes resale w 5 bdrms & 3 full baths in quaint Twenty One Oaks / Little Miami schools! Full unfinished lower level with full bath rough-in! 2nd floor w 4 bdrms, 2 fll bath & bonus room! 1st fl has a guest suite or could be quiet study! Newer water softener and garbage disposal! Close to shops, dining, schools!

21. 2023-03-01
    soldstatus $390,000
22. 2023-02-27
    soldstatus $390,000 Closed
23. 2023-02-27
    soldstatus $390,000 Sold
24. 2023-01-31
    status Pending
25. 2023-01-22
    listed $400,000 Active
26. 2022-11-11
    historical
27. 2022-09-10
    listed $389,900 Active
28. 2022-08-14
    historical
29. 2022-08-06
    price $394,900
30. 2022-06-29
    listed $399,900 Active
31. 2015-06-23
    soldstatus $72,667
32. 2011-01-20
    soldstatus $652,500
33. 2010-03-24
    soldstatus $600,000

ⓘ 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: $5,813 · $484/mo
• Projected year-2 tax: $6,447 · $537/mo
• Expected delta: +$634/yr (+$53/mo · 10.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,997
• − Mortgage interest: −$25,425
• − Property taxes: −$5,813
• − Insurance: −$2,270
• − Repairs & maintenance: −$4,240
• − Management: −$4,240
• − HOA: −$372
• − Depreciation: −$13,204
• Taxable loss: −$2,567
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $5,466/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: Little Miami Local
• NCES district ID: 3905044
• Math proficiency: 67% ▼ -11.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $74,949
• Composite: 60.5/100
• National rank: #844
• State rank: #140 of 656 in OH

Livability — South Lebanon

• Score: 74/100
• State rank: #279
• US rank: #4589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Warren · 227,646 people
• City population: 7,053
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 13,577
• Household income: $120,340
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 5.6

Population outlook (Warren County) Hauer SSP2

• Today (2025): 248,603 people
• By 2030: 259,345 · +4.3%
• By 2040: 277,666 · +11.7%
• By 2050: 289,599 · +16.5%
• By 2075: 311,681 · +25.4%
• By 2100: 302,738 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 2% Asian 2%
• Common ancestry: Romanian 7% Italian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Warren

• 2024 margin: Solid R (+31.5) · D 33.8% · R 65.3%
• 2008→2024 swing: +4.5pp toward D · 2008: -36.1pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+30.8 2016: R+37.6 2012: R+39.5 2008: R+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.41%
• Current HPI: 239.7828
• 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

-24.3% since first listed

22 events — show timeline

• 2026-06-10 Price Changed $453,900 Cincy MLS
• 2026-05-06 Listed $459,900 Cincy MLS
• 2026-05-05 Listing Removed — Cincy MLS
• 2026-04-15 Price Changed $465,000 Cincy MLS
• 2026-04-07 Price Changed $469,900 Cincy MLS
• 2026-03-06 Price Changed $472,000 Cincy MLS
• 2026-01-29 Listed $477,000 Cincy MLS
• 2025-12-21 Listing Removed — Cincy MLS
• 2025-10-14 Listed $485,000 Cincy MLS
• 2023-03-01 Sold (Public Records) $390,000 Public Records
• 2023-02-27 Sold (MLS) $390,000 Dayton MLS
• 2023-02-27 Sold (MLS) $390,000 Dayton MLS
• 2023-01-31 Pending — Dayton MLS
• 2023-01-22 Listed $400,000 Dayton MLS
• 2022-11-11 Listing Removed — Cincy MLS
• 2022-09-10 Listed $389,900 Cincy MLS
• 2022-08-14 Listing Removed — Cincy MLS
• 2022-08-06 Price Changed $394,900 Cincy MLS
• 2022-06-29 Listed $399,900 Cincy MLS
• 2015-06-23 Sold (Public Records) $72,667 Public Records
• 2011-01-20 Sold (Public Records) $652,500 Public Records
• 2010-03-24 Sold (Public Records) $600,000 Public Records

Property tax history

+23.2%/yr

Latest (2025): $5,813 · -0.0% YoY. Source: county tax records.