6501 Germantown Rd #341 · Middletown, OH 45042

$113,400

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 395 Days on market

Built 2025

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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).

• Cash flow +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• High end amenities
• Country setting
• Built 2025

Tags

• LARGE EAT-IN KITCHENS
• HIGH END AMENITIES
• PARKS AND OUTDOOR ACTIVITIES
• COUNTRY SETTING
• MADISON SCHOOL DISTRICT

Property features AI

Finance

• Financial info: List price $113,400

Exterior

• Home design: Spec model - CLAYTON 341 Catalina; Address: 6501 Germantown Rd #341, Middletown, OH 45042
• Construction: Living area approximately 1568
• Exterior features: Shake roof

Interior

• Kitchen: Includes dishwasher and refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Natural gas heating; Central air; Ceiling fans
• Interior features: Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $113k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Middletown — 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 72/100 on livability (#389 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D+, amenities D+.
• Madison Local (rural): math 59% / reading 61% proficiency, ranked #274 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $784 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 395 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Recommended offer $99,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 395 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• GRM: 7.6

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-5,987
• Equity at exit: $16,908

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $10,791
• Equity at exit: $9,805

Cash invested: $31,752 (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 45042

• Active inventory: 71
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$595
• Tax est. 1.5%: −$142 /mo · $1,701/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $194

Break-even live

Break-even rent $992

Max offer price $113,400

Occupancy floor 79%

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: $28,350
• Closing costs: $3,402
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6501 Germantown Rd Middletown, OH	2.0–3.0	2.0	1184	$1,100	$0.93	1d	1	0.05mi
2513 Aspen St Unit 2513A Middletown, OH	3.0	2.0	1056	$1,150	$1.09	14d	1	1.04mi
2002 Huntington St Unit 2002H Middletown, OH	3.0	2.0	1216	$1,200	$0.99	19d	1	1.23mi

Listing history 15 events

1. 2026-06-19
   days on market $113,400 Active 395 DOM
2. 2026-06-18
   days on market $113,400 Active 394 DOM
3. 2026-06-17
   days on market $113,400 Active 393 DOM
4. 2026-06-16
   days on market $113,400 Active 392 DOM
5. 2026-06-15
   days on market $113,400 Active 391 DOM
6. 2026-06-14
   days on market $113,400 Active 389 DOM
7. 2026-06-12
   days on market $113,400 Active 388 DOM
8. 2026-06-09
   days on market $113,400 Active 385 DOM
9. 2026-06-08
   days on market $113,400 Active 384 DOM
10. 2026-06-07
    days on market $113,400 Active 383 DOM
11. 2026-06-03
    days on market $113,400 Active 379 DOM
12. 2026-06-02
    days on market $113,400 Active 378 DOM
13. 2026-06-01
    days on market $113,400 Active 377 DOM
14. 2026-05-31
    days on market $113,400 Active 376 DOM
15. 2026-05-30
    days on market $113,400 Active 375 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: $14,854
• − Mortgage interest: −$6,352
• − Property taxes: −$1,701
• − Insurance: −$567
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$3,299
• Taxable income: $558
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $2,197/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: Madison Local
• NCES district ID: 3904612
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $60,069
• Composite: 52.04/100
• National rank: #1633
• State rank: #274 of 656 in OH

Livability — Middletown

• Score: 72/100
• State rank: #389
• US rank: #6338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Butler County · 381,674 people
• City population: 96,117
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 27,652
• Household income: $69,520
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 751.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 387,706 people
• By 2030: 392,028 · +1.1%
• By 2040: 395,307 · +2.0%
• By 2050: 391,116 · +0.9%
• By 2075: 378,642 · -2.3%
• By 2100: 343,248 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada, Jamaica, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+26.3) · D 36.4% · R 62.7%
• 2008→2024 swing: -3.6pp toward R · 2008: -22.6pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+24.0 2016: R+28.3 2012: R+26.2 2008: R+22.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -169.01%
• Current HPI: 217.3827
• Rent YoY: —
• 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