11512 Pippin Rd

Pleasant Run, OH 45231

$219,900C+

3 bd · 1.5 ba · 1,508 sqft · Built 1978 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,386/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$393
• HOA: −$0
• Vac / Maint / Mgmt: −$501
• Net cashflow: $339/mo
• Annual: $4,065/yr
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• 1% rule: 1.09%
• Cash to close: $61,572

Investor read

• This is a 3-bed/1.5-bath single-family listed at $220k.
• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 70/100 on livability (#460 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, health & safety C-, amenities F.
• Northwest Local (suburban): math 38% / reading 46% proficiency, ranked #508 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.9%/yr); 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• 6 sale attempts since 24y 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.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $62k cash investment doubles in ~9 years — after that, you're playing with house money.
• This rent runs 40% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1978 — 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.
• 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.