547 Woodbine Ct

South Lebanon, OH 45039

$379,900C-

4 bd · 2.5 ba · 1,981 sqft · Built 2010 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,802/mo
• Mortgage (P&I): −$1,992
• Tax + insurance: −$530
• HOA: −$50
• Vac / Maint / Mgmt: −$588
• Net cashflow: $-359/mo
• Annual: $-4,305/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.05%
• DSCR: 0.82
• 1% rule: 0.74%
• Cash to close: $106,372

Investor read

• This is a 4-bed/2.5-bath single-family listed at $380k.
• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (26.2% below list).
• It's been on market 50 days — a 3% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (26.2% below list) — sets the bar for 1% rule.
• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#279 in OH, #4,589 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute 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.
• Market conditions: Rents rising fast (+7.4%/yr); 126 active listings in the ZIP; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $380k implies a 111% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.2% vs local median 3.5% in South Lebanon — 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.
• This rent runs 31% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.