902 Crawford St · Middletown, OH 45044

$249,900

3 bd · 3.5 ba · 8,000 sqft · SingleFamily public records · 37 Days on market

Built 1920 0.35 ac lot

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Why this score? — see what drove the F 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 +8.2/30.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +2.2/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your vision awaits in this 8,000 square foot property. Currently divided as a duplex, the possibilities are endless with large open rooms, custom tile, expansive closets, and an indoor pool/spa. Private parking in rear of building.

Key facts

• Private parking
• Indoor pool spa
• 0.35 acre lot

Tags

• INDOOR POOL SPA
• PRIVATE PARKING

Property features AI

Finance

• Financial info: Two total units; Unit 2 currently rents for $500

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Two levels; Slab foundation
• Construction: Block construction; Membrane roof
• Exterior features: Wood windows; Residential zoning

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Unit 1 has two full bathrooms and one partial bathroom; Unit 2 has one full bathroom
• Heating & cooling: Forced air heating (gas); Window air conditioning units
• Interior features: No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-237 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (28.0% below list).
• Recommended offer: $180k (28.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#389 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D+, amenities D+.
• Middletown City (suburban): math 21% / reading 28% proficiency, ranked #610 of 656 in OH (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.3%/yr); 203 active listings in the ZIP; 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,946 (28.0% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.07%
• DSCR: 0.82
• GRM: 11.6

CMA / ARV

• ARV (median comp): $153,553
• List price: $249,900
• Delta: 62.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.29×
• Total profit: $-49,416
• Equity at exit: $37,261

10-year hold

• IRR: -7.0%
• Equity multiple: 0.50×
• Total profit: $-35,334
• Equity at exit: $21,607

Cash invested: $69,972 (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 45044

• Rents YoY: 6.3%
• Active inventory: 203
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$244 /mo · $2,928/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-237

Break-even live

Break-even rent $2,100

Max offer price $208,025

Occupancy floor —

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $249,900 Active 37 DOM
2. 2026-06-17
   days on market $249,900 Active 36 DOM
3. 2026-06-16
   days on market $249,900 Active 35 DOM
4. 2026-06-15
   days on market $249,900 Active 34 DOM
5. 2026-06-13
   days on market $249,900 Active 32 DOM
6. 2026-06-09
   days on market $249,900 Active 28 DOM
7. 2026-06-08
   days on market $249,900 Active 27 DOM
8. 2026-06-07
   days on market $249,900 Active 26 DOM
9. 2026-06-03
   days on market $249,900 Active 22 DOM
10. 2026-06-02
    days on market $249,900 Active 21 DOM
11. 2026-06-01
    days on market $249,900 Active 20 DOM
12. 2026-05-31
    days on market $249,900 Active 19 DOM
13. 2026-05-13
    listed $249,900 Active 231-char remark

    Show marketing remark (231 chars)

    Your vision awaits in this 8,000 square foot property. Currently divided as a duplex, the possibilities are endless with large open rooms, custom tile, expansive closets, and an indoor pool/spa. Private parking in rear of building.

14. 2026-05-11
    listed $249,900 Active 231-char remark

ⓘ 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: $2,928 · $244/mo
• Projected year-2 tax: $3,413 · $284/mo
• Expected delta: +$485/yr (+$40/mo · 16.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,594
• − Mortgage interest: −$13,998
• − Property taxes: −$2,928
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$7,270
• Taxable loss: −$7,307
• Est. tax savings @ 24.0%: +$1,754
• After-tax cash flow: $-1,091/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: Middletown City
• NCES district ID: 3904440
• Math proficiency: 21% ▼ -17.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,650
• Composite: 20.35/100
• National rank: #8605
• State rank: #610 of 656 in OH

Livability — Middletown

• Score: 72/100
• State rank: #389
• US rank: #6338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, OH
• County: Butler County · 381,674 people
• City population: 96,117
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 56,217
• Household income: $73,732
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1532.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 387,706 people
• By 2030: 392,028 · +1.1%
• By 2040: 395,307 · +2.0%
• By 2050: 391,116 · +0.9%
• By 2075: 378,642 · -2.3%
• By 2100: 343,248 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 12% Two or more races 8% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+26.3) · D 36.4% · R 62.7%
• 2008→2024 swing: -3.6pp toward R · 2008: -22.6pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+24.0 2016: R+28.3 2012: R+26.2 2008: R+22.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.07%
• Current HPI: 219.0479
• Rent YoY: ▲ 6.31%
• Metro: Cincinnati, OH-KY-IN
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-13 Listed $249,900 Dayton MLS
• 2026-05-11 Listed $249,900 Cincy MLS

Property tax history

-8.4%/yr

Latest (2023): $2,928 · +25.2% YoY. Source: county tax records.