140 Lemonwood Ct · Springboro, OH 45066

$374,900

4 bd · 2.5 ba · 2,315 sqft · SingleFamily public records · 1 Days on market

Built 1988 0.26 ac lot Est $361k · at est.

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Why this score? — see what drove the D- 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 +10.9/30.0
• Schools +7.1/10.0
• ARV discount +5.8/15.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice 4 bed 2 st loc on a cul-de-sac st. Features include 1st flr study,formal liv & din,sunken fam rm w/WBFP,six panel drs & natural woodwork throughout. Master suite is very large w/walk-in closet. Great yard w/lg deck.

Key facts

• Formal dining room
• Remodeled cabinetry
• Eat in kitchen

Tags

• HOME OFFICE
• FORMAL LIVING SPACE
• FORMAL DINING ROOM
• EAT IN KITCHEN
• REMODELED CABINETRY
• GRANITE COUNTERTOPS

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached two-car garage
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Two-story home; Slab foundation
• Construction: Slab foundation
• Exterior features: Porch; Patio; Lot approximately 0.257 acre; Residential zoning

Interior

• Kitchen: Kitchen on main level (approx. 11 x 13); Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Two bedrooms on the second floor (approx. 10 x 14 and 13 x 12)
• Bathrooms: Two full bathrooms and one half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Walk-in closets
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $346k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (23.2% below list).
• Recommended offer: $288k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.0% in Springboro — 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 81/100 on livability (#93 in OH, #1,395 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Springboro Community City (rural): math 77% / reading 79% proficiency, ranked #42 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Clearcreek Elementary School (917 students, 4% FRL); Springboro Junior High School (math 80% / reading 81%, grade A+, #41 of 654 statewide, top 7%, 928 students, 8% FRL); Springboro High School (math 67% / reading 84%, grade A-, #65 of 781 statewide, top 8%, 1,954 students, 7% FRL) — zoned schools at 6% FRL track the district average.
• Market conditions: 220 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $175k; list at $375k implies a 114% gain — meaningful room to come down on a strong offer.

Recommended offer $287,787 (23.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.77% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $361,140
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 St James Pl	0.28mi	4/2.5	2,412 (+4%)	3mo	$305,000	$126	77
270 Foliage Ln	0.08mi	3/3.0 (-1)	2,219 (-4%)	12mo	$375,000	$169	72
540 Basil St	0.42mi	3/2.0 (-1)	2,308 (-0%)	2mo	$345,000	$149	71
120 Clearview Dr	0.26mi	4/2.5	2,169 (-6%)	8mo	$360,000	$166	71
85 Clearview Dr	0.32mi	3/2.5 (-1)	2,260 (-2%)	9mo	$379,000	$168	68
274 Tamarack Trl	0.19mi	4/2.5	2,606 (+13%)	9mo	$369,900	$142	63
225 Renwood Pl	0.43mi	4/3.5	2,062 (-11%)	3mo	$317,000	$154	55
510 Royal Springs Dr	0.62mi	4/2.5	2,494 (+8%)	4mo	$388,000	$156	55
508 King George Ct	0.48mi	3/2.5 (-1)	2,012 (-13%)	1mo	$390,000	$194	50
525 Royal Springs Dr	0.65mi	3/2.5 (-1)	2,162 (-7%)	7mo	$300,000	$139	48
356 Saint James Pl	0.30mi	3/3.0 (-1)	2,645 (+14%)	11mo	$410,000	$155	46
490 Queensgate Rd	0.55mi	5/3.0 (+1)	2,057 (-11%)	12mo	$416,000	$202	39

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-71,398
• Equity at exit: $55,899

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-76,021
• Equity at exit: $32,415

Cash invested: $104,972 (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 45066

• Active inventory: 220
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,878 medium
• Mortgage (P&I): −$1,966
• Tax from tax record: −$318 /mo · $3,812/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $-166

Break-even live

Break-even rent $3,089

Max offer price $345,502

Occupancy floor —

Sensitivity live

Price	-10% $46	-5% $-60	+0% $-166	+5% $-273	+10% $-379
Rent	-10% $-394	-5% $-280	+0% $-166	+5% $-53	+10% $61
Rate	-1.0pp $22	-0.5pp $-71	base $-166	+0.5pp $-264	+1.0pp $-362

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: $93,725
• Closing costs: $11,247
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Royal Dr Springboro, OH	1.0–4.0	1.0–2.0	1200	$3,995	$3.33	3d	3	0.74mi
504 Brownstone Row Springboro, OH	3.0	3.5	1800	$2,750	$1.53	45d	1	0.88mi
75 Myers Farm Ct Springboro, OH	3.0	2.0	1714	$2,400	$1.40	9d	1	1.23mi

Listing history 8 events

1. 2026-05-21
   status Pending
2. 2026-05-20
   listed $374,900 Active
3. 2003-07-15
   soldstatus $175,000
4. 2003-06-27
   soldstatus $175,000 233-char remark

   Show marketing remark (233 chars)

   Very nice 4 bed 2 st loc on a cul-de-sac st. Features include 1st flr study,formal liv & din,sunken fam rm w/WBFP,six panel drs & natural woodwork throughout. Master suite is very large w/walk-in closet. Great yard w/lg deck.

5. 2003-05-01
   listed $182,900 233-char remark

   Show marketing remark (233 chars)

   Very nice 4 bed 2 st loc on a cul-de-sac st. Features include 1st flr study,formal liv & din,sunken fam rm w/WBFP,six panel drs & natural woodwork throughout. Master suite is very large w/walk-in closet. Great yard w/lg deck.

6. 1999-02-10
   soldstatus $160,000
7. 1989-05-15
   soldstatus $134,000
8. 1987-09-17
   soldstatus $18,000

ⓘ 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: $3,812 · $318/mo
• Projected year-2 tax: $4,830 · $403/mo
• Expected delta: +$1,018/yr (+$85/mo · 26.7%)

ⓘ 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 ≥100°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,534
• − Mortgage interest: −$21,000
• − Property taxes: −$3,812
• − Insurance: −$1,874
• − Repairs & maintenance: −$2,763
• − Management: −$2,763
• − Depreciation: −$10,906
• Taxable loss: −$8,584
• Est. tax savings @ 24.0%: +$2,060
• After-tax cash flow: $63/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: Springboro Community City
• NCES district ID: 3905042
• Math proficiency: 77% ▼ -6.00%
• Reading proficiency: 79% ▼ -3.00%
• Median HH income: $101,069
• Composite: 70.88/100
• National rank: #247
• State rank: #42 of 656 in OH

Livability — Springboro

• Score: 81/100
• State rank: #93
• US rank: #1395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springboro, OH
• County: Warren County · 196,906 people
• City population: 27,545
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 27,545
• Household income: $131,250
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 139.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 4% Two or more races 4% Asian 3% Black 2%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Asian/Pacific 2% Spanish 2% Other Indo-European 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: ▼ -125.08%
• Current HPI: 221.4007
• Rent YoY: —
• 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

+1982.8% since first listed

8 events — show timeline

• 2026-05-21 Pending — Dayton MLS
• 2026-05-20 Listed $374,900 Dayton MLS
• 2003-07-15 Sold (Public Records) $175,000 Public Records
• 2003-06-27 Sold (MLS) $175,000 Cincy MLS
• 2003-05-01 Listed $182,900 Cincy MLS
• 1999-02-10 Sold (Public Records) $160,000 Public Records
• 1989-05-15 Sold (Public Records) $134,000 Public Records
• 1987-09-17 Sold (Public Records) $18,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,812 · -0.2% YoY. Source: county tax records.