567 Greenwell Ave

Cincinnati, OH 45238

$154,900B

3 bd · 1.0 ba · 1,258 sqft · Built 1946 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,863/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$322
• HOA: −$0
• Vac / Maint / Mgmt: −$391
• Net cashflow: $338/mo
• Annual: $4,053/yr
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• 1% rule: 1.20%
• Cash to close: $43,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 58 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (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 80/100 on livability (#130 in OH, #1,856 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Oak Hills Local (suburban): math 68% / reading 70% proficiency, ranked #141 of 656 in OH (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: C O Harrison Elementary School (math 78% / reading 71%, grade A, #272 of 1,584 statewide, top 19%, 943 students, 38% FRL); Delhi Middle School (math 51% / reading 64%, grade B, #302 of 654 statewide, top 46%, 537 students, 47% FRL); Oak Hills High School (math 8% / reading 69%, grade F, #557 of 781 statewide, top 72%, 2,325 students, 0% FRL).
• Zoned-school proficiency averages 57% at this address vs 69% district-wide (-12 pts) — the specific schools serving this property underperform the Oak Hills Local average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.9%/yr); 78 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 7 sale attempts since 24y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 8.9% vs local median 3.9% in Cincinnati — 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.
• This rent runs 34% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1946 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.