6227 Leroy Pl · Salem Heights, OH 45230

$260,000

3 bd · 1.5 ba · 2,502 sqft · SingleFamily · 3 Days on market

Built 1968 Good condition 6,273 sqft lot Est $488k · 47% under

---

Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Schools +6.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy the ease of one-level living in this well-maintained 3-bedroom ranch nestled on a cul-de-sac with a private wooded backyard. Features include wood floors, a remodeled kitchen (2022), replacement windows, and a spacious family room with new carpet and walkout to the deck. The newer roof (2019) provides added peace of mind. Move right in and start enjoying all this home has to offer.

Key facts

• New carpet
• One-level living
• Remodeled kitchen

Tags

• ONE-LEVEL LIVING
• PRIVATE WOODED BACKYARD
• REMODELED KITCHEN
• REPLACEMENT WINDOWS
• SPACIOUS FAMILY ROOM
• NEW CARPET

Property features AI

Finance

• Other: Lot is less than 0.5 acre (approximately 0.144 acres)
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas
• Home design: Ranch-style single family home; One level
• Construction: Brick and wood siding exterior; Shingle roof; Poured foundation; Built on one level (ranch)
• Exterior features: Deck; Vinyl windows

Interior

• Kitchen: Kitchen around 10 x 12; Dishwasher; Microwave; Oven/Range; Refrigerator
• Bedrooms: Three bedrooms total; Primary bedroom approximately 12 x 12 (on level 1); Second bedroom approximately 12 x 10 (on level 1); Third bedroom approximately 10 x 9 (on level 1)
• Flooring: Wall-to-wall carpet in family room
• Bathrooms: One full bathroom on level 1; One half/partial bathroom on level 1; Primary bath described as 'Other'
• Heating & cooling: Central air; Wall unit; Forced air heating (gas); Gas water heating
• Interior features: Six total rooms; Full basement with concrete floor and unfinished space; Walkout family room
• Laundry & utility: Basement utility space (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (17.8% below list).
• Recommended offer: $214k (17.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#168 in OH, #2,518 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: schools C-, amenities F, health & safety F.
• Forest Hills Local (suburban): math 75% / reading 80% proficiency, ranked #53 of 656 in OH (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.4%/yr); 60 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $213,848 (17.8% 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. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $487,890
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1341 Mayland Dr	0.17mi	3/2.5	2,356 (-6%)	3mo	$327,000	$139	76
6168 Thole Rd	0.27mi	3/1.5	2,347 (-6%)	3mo	$307,000	$131	74
6080 Luwista Ln	0.31mi	3/2.5	2,669 (+7%)	11mo	$474,750	$178	61
6040 Luwista Ln	0.38mi	3/4.0	2,450 (-2%)	10mo	$545,000	$222	61
1630 Dell Ter	0.54mi	3/1.5	2,240 (-10%)	4mo	$277,500	$124	54
6026 Sebright Ln	0.45mi	4/2.5 (+1)	2,340 (-6%)	10mo	$369,000	$158	50
5816 Salem Rd	0.59mi	3/3.0	2,411 (-4%)	13mo	$570,000	$236	49
6574 Windyhills Rd	0.53mi	4/2.0 (+1)	2,290 (-8%)	8mo	$282,000	$123	48
6604 Hitching Post Ln	0.65mi	4/3.5 (+1)	2,379 (-5%)	4mo	$499,000	$210	45
1104 Birney Ln	0.73mi	4/2.5 (+1)	2,390 (-4%)	10mo	$465,000	$195	41
1605 Marlou Ln	0.54mi	4/2.0 (+1)	2,194 (-12%)	8mo	$576,150	$263	41
1050 Stormy Way	0.68mi	3/2.0	2,130 (-15%)	11mo	$478,500	$225	32

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

Projected returns pro-forma

-3.0% appreciation · 2.39% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-50,244
• Equity at exit: $38,767

10-year hold

• IRR: -14.1%
• Equity multiple: 0.21×
• Total profit: $-57,716
• Equity at exit: $22,480

Cash invested: $72,800 (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 45230

• Rents YoY: 2.4%
• Active inventory: 60
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,138 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-107

Break-even live

Break-even rent $2,274

Max offer price $244,460

Occupancy floor —

Sensitivity live

Price	-10% $72	-5% $-18	+0% $-107	+5% $-197	+10% $-287
Rent	-10% $-276	-5% $-192	+0% $-107	+5% $-23	+10% $62
Rate	-1.0pp $24	-0.5pp $-41	base $-107	+0.5pp $-175	+1.0pp $-243

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6006 Stanhill Ct Cincinnati, OH	3.0	2.0	2056	$1,995	$0.97	25d	1	0.75mi
6989 Salem Rd Cincinnati, OH	4.0	2.0	2000	$2,300	$1.15	45d	1	1.23mi
1510 Oldbridge Rd Cincinnati, OH	4.0	2.5	2014	$2,879	$1.43	13d	1	1.39mi

Listing history 3 events

1. 2026-06-21
   statusdays on market $260,000 Contingency Pending 3 DOM
2. 2026-06-18
   remarks 390-char remark
3. 2026-06-18
   listed $260,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,662
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − Depreciation: −$7,564
• Taxable loss: −$5,772
• Est. tax savings @ 24.0%: +$1,385
• After-tax cash flow: $96/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained single-family home offers a good investment opportunity with minimal repairs and updates needed.

Value-add opportunities

• Both painting the exterior — enhances curb appeal and resale value
• Both upgrading the HVAC system — improves comfort and energy efficiency
• Both installing new windows — increases natural light and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both painting the exterior — enhances curb appeal and resale value ↑
• Both upgrading the HVAC system — improves comfort and energy efficiency ↑
• Both installing new windows — increases natural light and energy efficiency ↑

ⓘ 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: Forest Hills Local
• NCES district ID: 3904734
• Math proficiency: 75% ▼ -8.00%
• Reading proficiency: 80% ▼ -3.00%
• Median HH income: $86,165
• Composite: 69.03/100
• National rank: #322
• State rank: #53 of 656 in OH

Livability — Salem Heights

• Score: 78/100
• State rank: #168
• US rank: #2518

Category grades

Amenities F Commute A+ 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

• Census place: Salem Heights, OH
• County: Hamilton County · 701,295 people
• City population: 26,923
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 27,501
• Household income: $89,516
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 527.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Black 4% Asian 1%
• Common ancestry: Romanian 2% Iranian 2% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.96%
• Current HPI: 224.6954
• Rent YoY: ▲ 2.39%
• 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

• 2026-06-18 Listed $260,000 Cincy MLS