110 Lebanon Rd #129 · Dalton, OH 44618

$45,000

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 13 Days on market

Built 1988 Fair condition $573/mo HOA · 55% of rent ↓ 25% since listing

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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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the low maintenance and simplistic lifestyle at lot 129. This home features 2 bedrooms, an over size owners suite with en-suite bath, an open eat in kitchen with newer flooring, a living room, a den/family room, a full bath, and an abundance of storage cascading thru this home. Outside you can relax on those rainy days on your covered porch. An added bonus is the built-in ramp for easy accessibility and two large outbuildings for additional storage. Let’s get you in to view this home today. All interested parties must be approved by the park prior to closing.

Key facts

• Abundance of storage
• Den family room
• Parking

Tags

• OVERSIZED OWNER'S SUITE
• PRIVATE EN-SUITE BATH
• SPACIOUS EAT-IN KITCHEN
• COMFORTABLE LIVING ROOM
• DEN FAMILY ROOM
• ABUNDANCE OF STORAGE

Property features AI

Finance

• Other: Annual tax amount: $318 (2025)
• Financial info: Has land lease with monthly amount of $573
• HOA & community: Part of Lincoln Terrace HOA; Monthly association fee of $573; Association fee covers water, sewer, and trash

Exterior

• Parking: Driveway; Paved parking; no garage
• Utilities: Shared well water; Shared septic; Electric service
• Home design: Single-story home; Vinyl siding; Permanent foundation; Asphalt/fiberglass roof
• Construction: Built (year per public records); Vinyl siding construction; Asphalt/fiberglass roof; Permanent foundation
• Exterior features: Covered patio; Storage; Shed(s)

Interior

• Kitchen: Range; Microwave
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Total of 7 rooms
• Laundry & utility: Washer and Dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-58 ($-700/yr) — negative.
• To cash-flow at today's rent, offer at most $37k (18.8% below list).
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $37k (18.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#203 in OH, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Dalton Local (town): math 71% / reading 78% proficiency, ranked #101 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Dalton Elementary School (math 77% / reading 77%, grade A, #221 of 1,584 statewide, top 16%, 341 students, 0% FRL); Dalton Middle School (math 73% / reading 76%, grade A, #88 of 654 statewide, top 14%, 285 students, 52% FRL); Dalton High School (math 44% / reading 82%, grade B-, #198 of 781 statewide, top 25%, 294 students, 16% FRL) — zoned schools at 23% FRL track the district average.
• Market conditions: 18 active listings in the ZIP; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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: HOA is 55% of rent.

Recommended offer $36,560 (18.8% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.32% ✓
• Cap rate: 4.74%
• Cash-on-cash: -5.55%
• DSCR: 0.75
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.16×
• Total profit: $-10,639
• Equity at exit: $6,710

10-year hold

• IRR: -17.3%
• Equity multiple: 0.00×
• Total profit: $-12,553
• Equity at exit: $3,891

Cash invested: $12,600 (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 44618

• Home prices YoY: -28.9%
• Active inventory: 18
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$573
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $-58

Break-even live

Break-even rent $1,119

Max offer price $36,560

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-43	+0% $-58	+5% $-74	+10% $-89
Rent	-10% $-141	-5% $-100	+0% $-58	+5% $-17	+10% $24
Rate	-1.0pp $-36	-0.5pp $-47	base $-58	+0.5pp $-70	+1.0pp $-82

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $573 · $6,876/yr

Listing history 10 events

1. 2026-06-21
   days on market $45,000 Active 13 DOM
2. 2026-06-21
   days on market $45,000 Active 12 DOM
3. 2026-06-18
   days on market $45,000 Active 10 DOM
4. 2026-06-17
   days on market $45,000 Active 9 DOM
5. 2026-06-16
   days on market $45,000 Active 8 DOM
6. 2026-06-15
   days on market $45,000 Active 7 DOM
7. 2026-06-13
   days on market $45,000 Active 5 DOM
8. 2026-06-12
   days on market $45,000 Active 4 DOM
9. 2026-06-09
   remarks 687-char remark
10. 2026-06-09
    listed $45,000 Active 1 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: $12,542
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − HOA: −$6,876
• − Depreciation: −$1,309
• Taxable loss: −$1,071
• Est. tax savings @ 24.0%: +$257
• After-tax cash flow: $-443/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen and bathroom, as well as exterior painting.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom vanity — dated and in need of replacement
• Moderate exterior paint — peeling and in need of repainting

Value-add opportunities

• Both painting exterior — enhances curb appeal and value
• Both replacing kitchen cabinets — modernizes the space and increases value
• Both replacing bathroom vanity — modernizes the space and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom vanity · dated and in need of replacement	Moderate	$3,000–15,000
exterior paint · peeling and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both painting exterior — enhances curb appeal and value ↑
• Both replacing kitchen cabinets — modernizes the space and increases value ↑
• Both replacing bathroom vanity — modernizes the space and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dalton Local
• NCES district ID: 3905054
• Math proficiency: 71% ▼ -6.00%
• Reading proficiency: 78% ▼ -5.00%
• Median HH income: $55,040
• Composite: 63.56/100
• National rank: #607
• State rank: #101 of 656 in OH

Livability — Dalton

• Score: 77/100
• State rank: #203
• US rank: #3143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne · 117,095 people
• Population (ZIP): 7,869
• Household income: $69,282
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 4.1

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 116,616 people
• By 2030: 116,214 · -0.3%
• By 2040: 113,891 · -2.3%
• By 2050: 109,009 · -6.5%
• By 2075: 94,622 · -18.9%
• By 2100: 70,577 · -39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Polish 2% Slovak 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 76% English-only · German/W. Germanic 22% Spanish 1% Arabic 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.6pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.0 2016: R+34.9 2012: R+21.3 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.71%
• Current HPI: 252.6314
• Rent YoY: —
• Metro: —
• 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

-24.9% since first listed

7 events — show timeline

• 2026-06-05 Listed $45,000 MLSNOW
• 2023-03-17 Sold (MLS) $45,000 MLSNOW
• 2023-02-15 Pending — MLSNOW
• 2023-01-17 Listed $49,900 MLSNOW
• 2022-10-28 Listing Removed — MLSNOW
• 2022-09-09 Price Changed $54,900 MLSNOW
• 2022-08-17 Listed $59,900 MLSNOW