110 S River St

Franklin, OH 45005

$110,000B

4 bd · 2.0 ba · 2,476 sqft · Built — · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,767/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $636/mo
• Annual: $7,628/yr
• Cap rate: 13.23%
• Cash-on-cash: 24.77%
• DSCR: 2.10
• 1% rule: 1.61%
• Cash to close: $30,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $110k. Condition is rated fair.
• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 42 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#396 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities D-.
• Franklin City (suburban): math 55% / reading 60% proficiency, ranked #332 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 139 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.
• 2 sale attempts; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.2% vs local median 3.6% in Franklin — 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.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — poor condition
• Major: kitchen countertops — poor condition
• Major: bathroom fixtures — poor condition
• Major: bathroom flooring — poor condition
• Major: interior walls/paint — poor condition
• Major: landscaping — overgrown areas