755 Franklin Rd · Lebanon, OH 45036

$250,000

2 bd · 1.0 ba · 1,868 sqft · SingleFamily public records · 53 Days on market

Built 1950 1.77 ac lot $134/sqft · 28% below area Est $346k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.8/30.0
• Schools +5.9/10.0
• Rent growth +4.6/5.0
• Livability +3.5/5.0
• DSCR +2.8/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold before sent

Key facts

• Generous lot
• Unfinished attic
• 1.77 acre lot

Tags

• UNFINISHED ATTIC
• SPACIOUS POLE BUILDING
• GENEROUS LOT
• OPPORTUNITY TO EXPAND

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached garage; Barn
• Utilities: 220-volt electrical in garage
• Home design: Single-family residence
• Construction: Brick, frame, shingle siding, vinyl siding, and wood siding construction
• Exterior features: Porch; Large lot (approximately 1.77 acres); Lot dimensions approx. 549 x 406 x 370; Residential zoning

Interior

• Kitchen: Range; Pantry
• Bedrooms: Bedroom on main level (9 x 10); Bedroom on main level (15 x 15)
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main level bathrooms
• Heating & cooling: Baseboard heating; Propane heating
• Interior features: Laminate counters; Pantry; Walk-in closet(s); Wood-burning fireplace
• Laundry & utility: Main level laundry (8 x 8); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (24.7% below list).
• Recommended offer: $188k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.7% in 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.

Location & tenants

• Location reads 70/100 on livability (#457 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lebanon City (suburban): math 67% / reading 69% proficiency, ranked #151 of 656 in OH (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.3%/yr); 289 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 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.
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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.
• Current owner paid $151k; list at $250k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,336 (24.7% 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. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 11.1

CMA / ARV

• ARV (median comp): $345,744
• List price: $250,000
• Delta: -27.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
699 Carson Dr	0.50mi	3/2.0 (+1)	1,908 (+2%)	2mo	$475,000	$249	62
426 Cincinnati Ave	0.69mi	3/1.0 (+1)	1,784 (-4%)	8mo	$195,000	$109	49
660 Carson Dr	0.51mi	3/2.5 (+1)	2,072 (+11%)	2mo	$419,000	$202	46
1145 Walden Ct	0.39mi	3/2.5 (+1)	1,654 (-12%)	9mo	$395,000	$239	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.42×
• Total profit: $-40,824
• Equity at exit: $37,276

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-3,523
• Equity at exit: $21,615

Cash invested: $70,000 (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 45036

• Rents YoY: 8.3%
• Active inventory: 289
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,883 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$234 /mo · $2,802/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-161

Break-even live

Break-even rent $2,087

Max offer price $221,581

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-90	+0% $-161	+5% $-232	+10% $-302
Rent	-10% $-310	-5% $-235	+0% $-161	+5% $-86	+10% $-12
Rate	-1.0pp $-35	-0.5pp $-97	base $-161	+0.5pp $-226	+1.0pp $-292

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
870 Franklin Rd Lebanon, OH	2.0	2.0	1225	$2,164	$1.77	3d	8	0.32mi
905 Franklin Rd Apt 9 Lebanon, OH	3.0	2.5	1596	$1,810	$1.13	13d	1	0.35mi
220 N Cherry St Lebanon, OH	1.0	1.0	2435	$1,200	$0.49	5d	1	0.79mi

Listing history 22 events

1. 2026-06-21
   days on market $250,000 Active 53 DOM
2. 2026-06-18
   days on market $250,000 Active 50 DOM
3. 2026-06-17
   days on market $250,000 Active 49 DOM
4. 2026-06-16
   days on market $250,000 Active 48 DOM
5. 2026-06-15
   days on market $250,000 Active 47 DOM
6. 2026-06-13
   days on market $250,000 Active 45 DOM
7. 2026-06-13
   days on market $250,000 Active 44 DOM
8. 2026-06-09
   days on market $250,000 Active 41 DOM
9. 2026-06-08
   days on market $250,000 Active 40 DOM
10. 2026-06-07
    days on market $250,000 Active 39 DOM
11. 2026-06-03
    days on market $250,000 Active 35 DOM
12. 2026-06-02
    days on market $250,000 Active 34 DOM
13. 2026-06-01
    days on market $250,000 Active 33 DOM
14. 2026-05-31
    days on market $250,000 Active 32 DOM
15. 2026-04-29
    listed $250,000 Active 757-char remark
16. 2020-01-07
    soldstatus $151,000
17. 2020-01-06
    listed Contingency Pending 16-char remark

    Show marketing remark (16 chars)

    Sold before sent

18. 2020-01-06
    soldstatus $151,000 Sold 16-char remark

    Show marketing remark (16 chars)

    Sold before sent

19. 2020-01-06
    listed $150,000 16-char remark

    Show marketing remark (16 chars)

    Sold before sent

20. 2008-10-07
    soldstatus $45,000
21. 2008-09-26
    soldstatus $45,000

    Show marketing remark (200 chars)

    Auction 8/23/08 at 12:00 noon - 1-sty has unfin walk-up 2nd level, 1868 sq ft of potential living space offering hdwd & pine floors, beam ceiling, 33x42 det bldg. Needs work but endless potential.

22. 2008-07-11
    listed

    Show marketing remark (200 chars)

    Auction 8/23/08 at 12:00 noon - 1-sty has unfin walk-up 2nd level, 1868 sq ft of potential living space offering hdwd & pine floors, beam ceiling, 33x42 det bldg. Needs work but endless potential.

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $2,802 · $234/mo
• Projected year-2 tax: $3,351 · $279/mo
• Expected delta: +$549/yr (+$46/mo · 19.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,600
• − Mortgage interest: −$14,004
• − Property taxes: −$2,802
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$7,273
• Taxable loss: −$6,345
• Est. tax savings @ 24.0%: +$1,523
• After-tax cash flow: $-408/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.

Schools (NCES district)

• District: Lebanon City
• NCES district ID: 3904421
• Math proficiency: 67% ▼ -2.00%
• Reading proficiency: 69% ▼ -3.00%
• Median HH income: $66,118
• Composite: 59.25/100
• National rank: #936
• State rank: #151 of 656 in OH

Livability — Lebanon

• Score: 70/100
• State rank: #457
• US rank: #7561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, OH
• County: Warren County · 196,906 people
• City population: 42,204
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 42,204
• Household income: $99,128
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 904.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 248,603 people
• By 2030: 259,345 · +4.3%
• By 2040: 277,666 · +11.7%
• By 2050: 289,599 · +16.5%
• By 2075: 311,681 · +25.4%
• By 2100: 302,738 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 8% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Solid R (+31.5) · D 33.8% · R 65.3%
• 2008→2024 swing: +4.5pp toward D · 2008: -36.1pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+30.8 2016: R+37.6 2012: R+39.5 2008: R+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.95%
• Current HPI: 239.4833
• Rent YoY: ▲ 8.33%
• 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

+455.6% since first listed

8 events — show timeline

• 2026-04-29 Listed $250,000 Dayton MLS
• 2020-01-07 Sold (Public Records) $151,000 Public Records
• 2020-01-06 Listed — Cincy MLS
• 2020-01-06 Listed $150,000 Cincy MLS
• 2020-01-06 Sold (MLS) $151,000 Cincy MLS
• 2008-10-07 Sold (Public Records) $45,000 Public Records
• 2008-09-26 Sold (MLS) $45,000 Cincy MLS
• 2008-07-11 Listed — Cincy MLS

Property tax history

+4.2%/yr

Latest (2025): $2,802 · -2.3% YoY. Source: county tax records.