313 Leibee St · Middletown, OH 45042

$104,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 3 Days on market

Built 1919 2,178 sqft lot Est $118k · 11% under

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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 +20.7/30.0
• ARV discount +12.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well-maintained home in a convenient Middletown location! This 3-bedroom, 1-bath residence offers a bright and inviting living space, a spacious kitchen, and an open dining area perfect for gatherings. Enjoy the comfort of a large backyard, ideal for outdoor entertaining or relaxing weekends. Updates throughout include [insert any notable updates: flooring, roof, HVAC, etc. ], providing move-in readiness and peace of mind. Situated close to schools, parks, shopping, and major highways, this home combines small-town charm with easy access to everyday conveniences. Don't miss the opportunity to make this delightful property your own!

Key facts

• Close to parks
• Close to schools
• Open dining area

Tags

• LARGE BACKYARD
• SPACIOUS KITCHEN
• OPEN DINING AREA
• CLOSE TO SCHOOLS
• CLOSE TO PARKS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Zoned residential; Located in Middletown North suburb; directions available
• Financial info: Lease not considered
• HOA & community: No HOA

Exterior

• Parking: Off-street parking
• Security: Smoke alarm
• Utilities: Public water; Public sewer; Natural gas
• Home design: Craftsman/Bungalow style single-family home; One story
• Construction: Vinyl siding; Shingle roof; Block foundation; Built with 220 volt service
• Exterior features: Front porch; Storm windows

Interior

• Kitchen: Oven/Range; Refrigerator; Kitchen with vinyl floor and wood cabinets
• Bedrooms: Three bedrooms total; Primary bedroom about 15 x 12 (on main level); Second bedroom about 13 x 11 (on main level); Third bedroom about 10 x 11 (on main level)
• Flooring: Vinyl flooring in kitchen
• Bathrooms: One full bathroom on main level with shower and tub; One half bathroom
• Heating & cooling: Forced air heating (gas); Gas water heater; Window air conditioning unit
• Interior features: Partial basement; Window treatments; Wood cabinets; Vinyl flooring in kitchen; Smoke alarm; 220 volt
• Laundry & utility: No dedicated laundry info provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/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 $100k (4.7% below list).
• Recommended offer: $100k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.5% in Middletown — 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 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: 71 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• This rent is only 17% of the median local income ($70k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,018 (4.7% below list)

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.95% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $117,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 N Sutphin St	0.31mi	2/1.0	753 (+3%)	6mo	$86,000	$114	75
708 Auburn St	0.46mi	2/1.0	750 (+3%)	2mo	$150,000	$200	72
1014 Elwood Ave	0.53mi	2/1.0	720 (-1%)	16mo	$75,000	$104	60
2100 Crescent Blvd	0.47mi	2/1.0	804 (+10%)	6mo	$108,000	$134	56
2111 Crescent Blvd	0.50mi	2/1.0	688 (-6%)	15mo	$97,500	$142	55
818 Auburn St	0.49mi	2/1.0	672 (-8%)	12mo	$118,000	$176	54
1904 Clayton Ave	0.31mi	2/1.0	816 (+12%)	14mo	$145,000	$178	54
709 Elsmere St	0.43mi	2/1.0	820 (+13%)	9mo	$133,000	$162	51
2010 Sherman Ave	0.72mi	2/1.0	684 (-6%)	9mo	$135,000	$197	49
905 Auburn St	0.54mi	2/1.0	832 (+14%)	9mo	$75,569	$91	44
319 Moore St	0.61mi	2/1.0	834 (+15%)	6mo	$141,000	$169	43
1006 Catalpa Dr	0.63mi	2/1.0	792 (+9%)	16mo	$114,000	$144	43

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-7,933
• Equity at exit: $15,641

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $4,675
• Equity at exit: $9,070

Cash invested: $29,372 (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 45042

• Active inventory: 71
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$53 /mo · $642/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $143

Break-even live

Break-even rent $819

Max offer price $104,900

Occupancy floor 81%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 N Sutphin St Middletown, OH	2.0	1.0	715	$925	$1.29	4d	1	0.43mi
3 N Sutphin St Middletown, OH	2.0	1.0	715	$925	$1.29	4d	1	0.43mi
1002 Auburn St Unit 2 Middletown, OH	2.0	1.0	600	$895	$1.49	23d	1	0.53mi
3018 Tytus Ave Middletown, OH	2.0	1.0	726	$895	$1.23	15d	1	1.42mi

Listing history 4 events

1. 2026-06-18
   days on market $104,900 Active 3 DOM
2. 2026-06-17
   days on market $104,900 Active 2 DOM
3. 2026-06-16
   remarks 652-char remark
4. 2026-06-16
   listed $104,900 Active 1 DOM

ⓘ 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: $642 · $53/mo
• Projected year-2 tax: $1,139 · $95/mo
• Expected delta: +$497/yr (+$41/mo · 77.5%)

ⓘ 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 ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,002
• − Mortgage interest: −$5,876
• − Property taxes: −$642
• − Insurance: −$524
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$3,052
• Taxable loss: −$12
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $1,717/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): 27,652
• Household income: $69,520
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 751.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada, Jamaica, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -169.01%
• Current HPI: 217.3827
• 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

+424.5% since first listed

14 events — show timeline

• 2026-06-12 Listed $104,900 Cincy MLS
• 2024-11-13 Sold (Public Records) $271,000 Public Records
• 2017-11-13 Sold (Public Records) $325,000 Public Records
• 2016-08-11 Sold (Public Records) $7,600 Public Records
• 2005-07-15 Listing Removed — Cincy MLS
• 2005-01-15 Listed $57,900 Cincy MLS
• 2002-12-01 Listing Removed — Cincy MLS
• 2001-06-11 Listed $62,900 Cincy MLS
• 1998-08-04 Sold (Public Records) $57,000 Public Records
• 1998-07-30 Sold (MLS) $49,900 Cincy MLS
• 1998-06-16 Listed $57,000 Cincy MLS
• 1993-06-16 Sold (Public Records) $44,000 Public Records
• 1992-11-10 Sold (Public Records) $30,000 Public Records
• 1991-05-02 Sold (Public Records) $20,000 Public Records

Property tax history

-19.3%/yr

Latest (2025): $642 · +1.2% YoY. Source: county tax records.