413 S 1st St · Tipp City, OH 45371

$219,900

3 bd · 1.0 ba · 1,168 sqft · SingleFamily public records · 13 Days on market

Built 1920 4,792 sqft lot Est $238k · 8% 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).

• Cash flow +12.4/30.0
• ARV discount +11.0/15.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home in the heart of Tipp City! This well-maintained home offers 2 comfortable bedrooms and a host of updates, including an updated kitchen, replacement windows, furnace, and central air conditioning. Beautiful hardwood floors add warmth and character throughout the home. Enjoy the inviting family room, perfect for relaxing or entertaining guests. The full basement provides plenty of storage space. Step outside to a cozy patio, ideal for enjoying your morning coffee or evening gatherings. A detached garage adds convenience and extra storage. Conveniently located near local shopping, dining, parks, and schools, this home combines comfort, charm, and an excellent location. Don't miss the opportunity to make this delightful property your new home!

Key facts

• Full basement
• Updated kitchen
• Furnace

Tags

• UPDATED KITCHEN
• REPLACEMENT WINDOWS
• FURNACE
• CENTRAL AIR CONDITIONING
• HARDWOOD FLOORS
• FULL BASEMENT

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached garage
• Utilities: Cable available
• Home design: Single-story house; Residential zoning
• Construction: Brick, vinyl siding and wood siding exterior
• Exterior features: Fenced yard; Porch; Patio

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Decorative fireplace; Vinyl windows

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-34 ($-413/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (19.8% below list).
• Recommended offer: $176k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.1% in Tipp City — 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 80/100 on livability (#125 in OH, #1,827 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tipp City Exempted Village (suburban): math 70% / reading 76% proficiency, ranked #108 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 326 units permitted in Miami County in 2024 (0 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 $7k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $94k; list at $220k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,327 (19.8% 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 1920 — 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. 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?
5. 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?
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: 0.80% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $238,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 S 3rd St	0.14mi	3/1.0	1,220 (+4%)	3mo	$241,000	$198	84
604 S 3rd St	0.18mi	2/1.0 (-1)	1,225 (+5%)	2mo	$189,500	$155	76
111 W Dow St	0.34mi	3/1.0	1,327 (+14%)	2mo	$256,000	$193	60
535 Barbara Dr	0.50mi	3/1.5	1,066 (-9%)	2mo	$228,500	$214	59
536 Michael Pl	0.48mi	3/1.5	1,080 (-8%)	8mo	$256,500	$238	56
547 Douglas Way	0.50mi	3/2.0	1,066 (-9%)	4mo	$233,000	$219	54
239 W Elm St	0.33mi	2/1.0 (-1)	1,020 (-13%)	7mo	$208,000	$204	53
540 W Dow St	0.62mi	2/1.5 (-1)	1,120 (-4%)	7mo	$230,000	$205	52
542 Barbara Dr	0.52mi	3/2.0	1,066 (-9%)	11mo	$219,000	$205	48
124 N 2nd St	0.43mi	3/1.0	1,330 (+14%)	10mo	$213,000	$160	48
211 E Plum St	0.46mi	3/1.0	1,330 (+14%)	9mo	$209,000	$157	48
537 Horton Ave	0.56mi	2/1.5 (-1)	1,293 (+11%)	9mo	$234,000	$181	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-37,855
• Equity at exit: $32,788

10-year hold

• IRR: -9.5%
• Equity multiple: 0.42×
• Total profit: $-35,908
• Equity at exit: $19,013

Cash invested: $61,572 (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 45371

• Active inventory: 250
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,763 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$183 /mo · $2,191/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-34

Break-even live

Break-even rent $1,807

Max offer price $213,821

Occupancy floor 97%

Sensitivity live

Price	-10% $90	-5% $28	+0% $-34	+5% $-97	+10% $-159
Rent	-10% $-174	-5% $-104	+0% $-34	+5% $35	+10% $105
Rate	-1.0pp $76	-0.5pp $22	base $-34	+0.5pp $-91	+1.0pp $-149

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 N 2nd St Tipp City, OH	2.0	1.0	1100	$1,250	$1.14	3d	1	0.51mi
599 Wind Ridge Pl Tipp City, OH	2.0–3.0	1.0	815	$954	$1.17	3d	1	1.24mi

Listing history 10 events

1. 2026-06-18
   days on market $219,900 Active 13 DOM
2. 2026-06-17
   days on market $219,900 Active 12 DOM
3. 2026-06-16
   days on market $219,900 Active 11 DOM
4. 2026-06-15
   days on market $219,900 Active 10 DOM
5. 2026-06-14
   days on market $219,900 Active 8 DOM
6. 2026-06-10
   days on market $219,900 Active 5 DOM
7. 2026-06-09
   days on market $219,900 Active 4 DOM
8. 2026-06-08
   days on market $219,900 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $219,900 Active 2 DOM

ⓘ 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: $2,191 · $183/mo
• Projected year-2 tax: $2,811 · $234/mo
• Expected delta: +$620/yr (+$52/mo · 28.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,159
• − Mortgage interest: −$12,318
• − Property taxes: −$2,191
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$6,397
• Taxable loss: −$4,232
• Est. tax savings @ 24.0%: +$1,016
• After-tax cash flow: $603/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: Tipp City Exempted Village
• NCES district ID: 3904561
• Math proficiency: 70% ▼ -9.00%
• Reading proficiency: 76% ▼ -5.00%
• Median HH income: $63,580
• Composite: 63.13/100
• National rank: #642
• State rank: #108 of 656 in OH

Livability — Tipp City

• Score: 80/100
• State rank: #125
• US rank: #1827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tipp City, OH
• County: Miami County · 85,667 people
• City population: 22,865
• Metro: Dayton-Kettering, OH
• Population (ZIP): 22,865
• Household income: $93,599
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 465.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 3% Romanian 3% Scotch-Irish 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.63%
• Current HPI: 205.0064
• Rent YoY: —
• Metro: Dayton-Kettering, OH
• 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

+133.2% since first listed

3 events — show timeline

• 2026-06-05 Listed $219,900 WRIST
• 2026-06-05 Listed $219,900 Dayton MLS
• 2006-07-05 Sold (Public Records) $94,300 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,191 · -9.9% YoY. Source: county tax records.