Norway Plan · Maineville, OH 45039

$416,990

5 bd · 2.5 ba · 2,961 sqft · SingleFamily · 358 Days on market

Good condition

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• Cash flow +4.6/30.0
• Rent growth +4.4/5.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0

Listing remarks MLS

One of our newest floor plans and has quickly become one of our most popular. The open kitchen facing the large Great Room separated by a long bar-top is perfect for everything from late night entertaining to homework sessions, just one example of the flexibility of this floor plan. The den can also become a first floor 5th bedroom. The upstairs includes a loft, laundry room and a total of 4 walk-in closets.

Key facts

• Upstairs loft
• Laundry room
• Open kitchen

Tags

• OPEN KITCHEN
• LARGE GREAT ROOM
• LONG BAR-TOP
• FIRST FLOOR 5TH BEDROOM
• UPSTAIRS LOFT
• LAUNDRY ROOM

🏗️ New construction. The $416,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $551,500.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $417k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (26.4% below list).
• Recommended offer: $307k (26.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#529 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Little Miami Local (rural): math 67% / reading 70% proficiency, ranked #140 of 656 in OH (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Little Miami Primary School (math 76% / reading 65%, grade A-, #376 of 1,584 statewide, top 24%, 855 students, 18% FRL); Little Miami Middle School (math 67% / reading 72%, grade A, #143 of 654 statewide, top 23%, 1,279 students, 16% FRL); Little Miami High School (math 52% / reading 81%, grade B, #150 of 781 statewide, top 20%, 1,445 students, 14% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising fast (+7.4%/yr); 160 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• This rent runs 34% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($367k) is reasonable based on typical stale-listing flexibility.

Recommended offer $306,861 (26.4% 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 358 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.56% ✗
• Cap rate: 3.27%
• Cash-on-cash: -10.78%
• DSCR: 0.52
• GRM: 15.0

CMA / ARV

• ARV (median comp): $551,500
• List price: $416,990
• Delta: -24.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1430 Tecumseh Dr	0.45mi	4/2.5 (-1)	2,776 (-6%)	5mo	$552,000	$199	59
1790 Amberwood Way	0.63mi	4/3.0 (-1)	2,916 (-2%)	5mo	$565,000	$194	57
601 Eagles Nest Ct	0.65mi	4/2.5 (-1)	2,876 (-3%)	10mo	$365,000	$127	52
1727 Amberwood Way	0.60mi	4/2.5 (-1)	2,632 (-11%)	3mo	$520,000	$198	46
6849 Gray Wolf Dr	0.57mi	5/4.0	3,184 (+8%)	14mo	$645,000	$203	43
1422 Shawnee Run Dr	0.64mi	4/3.5 (-1)	3,142 (+6%)	11mo	$500,000	$159	42
1742 Amberwood Way	0.59mi	4/3.5 (-1)	2,632 (-11%)	11mo	$460,000	$175	36
6841 Gray Wolf Dr	0.57mi	4/3.5 (-1)	3,352 (+13%)	24mo	$576,500	$172	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.42% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 2.47×
• Total profit: $226,317
• Equity at exit: $496,835

10-year hold

• IRR: 17.5%
• Equity multiple: 5.99×
• Total profit: $770,557
• Equity at exit: $1,071,443

Cash invested: $154,420 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 8 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $417,990 ($161/sqft)
• Median days on market: 358 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +15.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 45039

• Home prices YoY: 7.3%
• Rents YoY: 7.4%
• Active inventory: 160
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $3,069 medium
• Mortgage (P&I): −$2,892
• Tax est. 1.5%: −$689 /mo · $8,272/yr
• Insurance: −$230
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $-1,387

Break-even live

Break-even rent $4,824

Max offer price $350,786

Occupancy floor —

Sensitivity live

Price	-10% $-1,006	-5% $-1,197	+0% $-1,387	+5% $-1,578	+10% $-1,768
Rent	-10% $-1,630	-5% $-1,508	+0% $-1,387	+5% $-1,266	+10% $-1,145
Rate	-1.0pp $-1,109	-0.5pp $-1,247	base $-1,387	+0.5pp $-1,530	+1.0pp $-1,675

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: $137,875
• Closing costs: $16,545
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6096 Driftwood Ct Maineville, OH	5.0	3.0	3392	$2,795	$0.82	0d	1	1.26mi
5826 Cedarwood Ct Maineville, OH	4.0	2.5	2220	$2,725	$1.23	0d	1	1.31mi
5986 Driftwood Ct Maineville, OH	4.0	2.5	2516	$2,836	$1.13	0d	1	1.33mi

Listing history 50 events

1. 2026-09-23
   days on market $416,990 Active 358 DOM
2. 2026-09-22
   days on market $416,990 Active 357 DOM
3. 2026-09-21
   days on market $416,990 Active 356 DOM
4. 2026-09-20
   days on market $416,990 Active 355 DOM
5. 2026-09-19
   days on market $416,990 Active 354 DOM
6. 2026-09-18
   days on market $416,990 Active 353 DOM
7. 2026-09-17
   days on market $416,990 Active 352 DOM
8. 2026-09-16
   days on market $416,990 Active 351 DOM
9. 2026-09-15
   days on market $416,990 Active 350 DOM
10. 2026-09-14
    days on market $416,990 Active 349 DOM
11. 2026-09-13
    days on market $416,990 Active 348 DOM
12. 2026-09-12
    days on market $416,990 Active 347 DOM
13. 2026-09-11
    days on market $416,990 Active 346 DOM
14. 2026-09-05
    days on market $416,990 Active 340 DOM
15. 2026-09-04
    days on market $416,990 Active 339 DOM
16. 2026-09-03
    days on market $416,990 Active 338 DOM
17. 2026-08-31
    days on market $416,990 Active 335 DOM
18. 2026-08-29
    days on market $416,990 Active 333 DOM
19. 2026-08-28
    days on market $416,990 Active 332 DOM
20. 2026-08-27
    days on market $416,990 Active 331 DOM
21. 2026-08-25
    days on market $416,990 Active 329 DOM
22. 2026-08-24
    days on market $416,990 Active 328 DOM
23. 2026-08-23
    days on market $416,990 Active 327 DOM
24. 2026-08-22
    days on market $416,990 Active 326 DOM
25. 2026-08-21
    days on market $416,990 Active 325 DOM
26. 2026-08-20
    days on market $416,990 Active 324 DOM
27. 2026-08-19
    days on market $416,990 Active 323 DOM
28. 2026-08-18
    days on market $416,990 Active 322 DOM
29. 2026-08-17
    days on market $416,990 Active 321 DOM
30. 2026-08-16
    days on market $416,990 Active 320 DOM
31. 2026-08-15
    days on market $416,990 Active 319 DOM
32. 2026-08-14
    days on market $416,990 Active 318 DOM
33. 2026-08-13
    days on market $416,990 Active 317 DOM
34. 2026-08-12
    days on market $416,990 Active 316 DOM
35. 2026-08-11
    days on market $416,990 Active 315 DOM
36. 2026-08-10
    days on market $416,990 Active 314 DOM
37. 2026-08-09
    days on market $416,990 Active 313 DOM
38. 2026-08-08
    days on market $416,990 Active 312 DOM
39. 2026-08-07
    days on market $416,990 Active 311 DOM
40. 2026-08-06
    days on market $416,990 Active 310 DOM
41. 2026-08-05
    days on market $416,990 Active 309 DOM
42. 2026-08-04
    days on market $416,990 Active 308 DOM
43. 2026-08-03
    days on market $416,990 Active 307 DOM
44. 2026-07-31
    days on market $416,990 Active 304 DOM
45. 2026-07-30
    days on market $416,990 Active 302 DOM
46. 2026-07-28
    days on market $416,990 Active 301 DOM
47. 2026-07-26
    days on market $416,990 Active 299 DOM
48. 2026-07-24
    days on market $416,990 Active 297 DOM
49. 2026-07-23
    days on market $416,990 Active 296 DOM
50. 2026-07-22
    days on market $416,990 Active 295 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,823
• − Mortgage interest: −$30,893
• − Property taxes: −$8,272
• − Insurance: −$2,758
• − Repairs & maintenance: −$2,946
• − Management: −$2,946
• − Depreciation: −$16,044
• Taxable loss: −$27,035
• Est. tax savings @ 24.0%: +$6,488
• After-tax cash flow: $-10,157/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $14,805–$44,415 screening

This home is in good condition with a modern kitchen and bathrooms. It has a good curb appeal and is ready for a fresh coat of paint and landscaping to enhance its value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace landscaping — Fresh greenery improves curb appeal and value ↑
• Both Install smart home features — Modernizes home and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 69/100

Zoned Schools

Elementary Little Miami Primary School A- OH #376/1,584 Nat'l #3,318/41,679 Middle Little Miami Middle School A OH #143/654 Nat'l #858/14,009 High Little Miami High School B OH #150/781 Nat'l #2,657/17,239

Schools (NCES district)

• District: Little Miami Local
• NCES district ID: 3905044
• Math proficiency: 67% ▼ -11.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $74,949
• Composite: 60.5/100
• National rank: #844
• State rank: #140 of 656 in OH

C Composite livability gradescore 69/100

Livability — Maineville

• Score: 69/100
• State rank: #529
• US rank: #9001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Warren County · 248,603 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 28,335
• Household income: $108,794
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 8% of renters

---

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 2%
• Common ancestry: Romanian 2% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 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: ▲ 38.63%
• Current HPI: 568.09
• Rent YoY: ▲ 7.42%
• 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

1 event — show timeline

• 2025-10-01 Listed $416,990 Zillow