1112 Lane St

Hamilton, OH 45011

$159,999B+

None bd · None ba · 2,688 sqft · Built 1914 · MultiFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,007/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$1,051
• Net cashflow: $2,916/mo
• Annual: $34,990/yr
• Cap rate: 28.16%
• Cash-on-cash: 78.10%
• DSCR: 4.48
• 1% rule: 3.13%
• Cash to close: $44,800

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $160k.
• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $729/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $160k).
• It's been on market 43 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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+, schools B; Watch: crime C-, amenities C-, employment D.
• Hamilton City (suburban): math 42% / reading 45% proficiency, ranked #517 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.0%/yr); 196 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 28.2% vs local median 4.6% in Hamilton — 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.
• At $5,007/mo this rent would consume 65% of the median local household income ($92k/yr) (locally 1795% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1914 — 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 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?
• 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.