6590 Waverly Park · South Lebanon, OH 45152

$424,000

4 bd · 2.5 ba · 2,317 sqft · SingleFamily public records · 16 Days on market

Built 2000 10,690 sqft lot Est $429k · at est. $68/mo HOA · 2% of rent

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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 +10.8/30.0
• ARV discount +8.0/15.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious well cared for home is waiting for its new family to create memories. 4 Bedrooms, 2 FL Laundry, Huge master w/ensuite and private commode room. Nice backyard with trellis and newer wood fence. Desired Wedgood Community offers spacious green space, 2 community pools, playset, full size basketball court, and you can walk for miles.

Key facts

• Move-in ready
• Two swimming pools
• Community amenities

Tags

• UPDATED KITCHEN
• FENCED BACKYARD
• COMMUNITY AMENITIES
• TWO SWIMMING POOLS
• PLAYGROUND
• MOVE-IN READY

Property features AI

Finance

• HOA & community: HOA administered by Associa; Quarterly association fee of $204.78; Association dues include landscaping, play area, and pool

Exterior

• Parking: Attached front-entry garage with 2 spaces; Driveway parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Poured foundation
• Construction: Brick and vinyl siding exterior; Built with poured foundation
• Exterior features: Shingle roof; Double-hung vinyl windows; One gas fireplace with ceramic surround; Residential zoning

Interior

• Kitchen: Counter bar; Eat-in kitchen; Walkout from kitchen; Wood floor in kitchen; Dishwasher; Garbage disposal; Microwave; Oven/Range; Refrigerator
• Bedrooms: 4 bedrooms total; Primary bedroom on level 2 (16 x 15); Bedroom 2 on level 2 (14 x 11); Bedroom 3 on level 2 (13 x 11); Bedroom 4 on level 2 (11 x 11)
• Flooring: Wood flooring in kitchen and foyer; Carpet in living room
• Bathrooms: Two full bathrooms; Two half (partial) bathrooms; Primary bathroom includes shower and tub; Partial bath on level 1 and a partial bath on lower level
• Heating & cooling: Forced air heating (gas); Gas water heating; Central air conditioning
• Interior features: Cathedral ceiling; Wall-to-wall carpet in living room; Wood floors in entry foyer and kitchen; Full, part-finished basement with concrete floor and framed construction; 10 total rooms
• Laundry & utility: Second-floor laundry (6 x 5); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $424k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $390k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $343k (19.0% below list).
• Recommended offer: $343k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.5% in South 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 74/100 on livability (#279 in OH, #4,589 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Little Miami Local (rural): math 67% / reading 70% proficiency, ranked #140 of 656 in OH (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 127 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• This rent runs 34% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 16 days — a 2% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y 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.

Recommended offer $343,346 (19.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 0.81% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.93%
• DSCR: 0.91
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $428,645
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6640 Waverly Park	0.06mi	4/2.5	2,252 (-3%)	5mo	$385,000	$171	88
6610 Waverly Park	0.03mi	4/3.5	2,178 (-6%)	8mo	$390,000	$179	79
6515 Thistle Grv	0.22mi	4/2.5	2,422 (+4%)	6mo	$421,000	$174	77
1327 Chelsea Ct	0.23mi	3/2.5 (-1)	2,222 (-4%)	2mo	$402,000	$181	76
6595 Thistle Grv	0.29mi	4/3.0	2,232 (-4%)	4mo	$412,000	$185	75
6671 Waverly Park	0.10mi	3/3.5 (-1)	2,157 (-7%)	3mo	$401,000	$186	72
1200 Carrington Pl	0.73mi	4/2.5	2,480 (+7%)	1mo	$378,000	$152	53
7173 Birkdale Dr	0.68mi	4/2.5	2,555 (+10%)	0mo	$495,000	$194	51
6270 Pine Cv	0.73mi	3/2.0 (-1)	2,382 (+3%)	4mo	$425,000	$178	51
1870 Ford Rd	0.53mi	4/2.5	2,009 (-13%)	6mo	$410,000	$204	48
7078 Quellin Blvd	0.69mi	3/2.5 (-1)	2,560 (+10%)	4mo	$517,450	$202	42
7143 Birkdale Dr	0.60mi	3/2.0 (-1)	2,005 (-14%)	5mo	$475,000	$237	38

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-80,816
• Equity at exit: $63,220

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-85,868
• Equity at exit: $36,660

Cash invested: $118,720 (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 45152

• Home prices YoY: -31.1%
• Active inventory: 127
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,433 high
• Mortgage (P&I): −$2,224
• Tax from tax record: −$435 /mo · $5,219/yr
• Insurance: −$177
• HOA: −$68
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $-191

Break-even live

Break-even rent $3,675

Max offer price $390,315

Occupancy floor —

Sensitivity live

Price	-10% $49	-5% $-71	+0% $-191	+5% $-311	+10% $-431
Rent	-10% $-462	-5% $-326	+0% $-191	+5% $-55	+10% $81
Rate	-1.0pp $23	-0.5pp $-83	base $-191	+0.5pp $-301	+1.0pp $-412

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: $106,000
• Closing costs: $12,720
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6976 Briarcliff Ct Maineville, OH	4.0	3.0	2475	$3,595	$1.45	17d	1	0.49mi
1256 Carrington Pl Maineville, OH	4.0	2.5	3000	$2,521	$0.84	24d	1	0.71mi
5738 Azra Ct Morrow, OH	4.0	2.5	2600	$5,995	$2.31	44d	1	1.40mi
1624 Rosemore Ln Morrow, OH	3.0	2.5	1900	$2,601	$1.37	13d	1	1.45mi
7814 Wilderness Way Maineville, OH	4.0	2.0	2140	$2,671	$1.25	44d	1	1.46mi

HOA detail

• Monthly dues: $68 · $816/yr
• Likely covers: pool

Listing history 11 events

1. 2026-06-21
   days on market $424,000 Active 16 DOM
2. 2026-06-19
   price $424,000 Active 13 DOM
3. 2026-06-18
   days on market $429,900 Active 13 DOM
4. 2026-06-17
   days on market $429,900 Active 12 DOM
5. 2026-06-16
   days on market $429,900 Active 11 DOM
6. 2026-06-15
   days on market $429,900 Active 10 DOM
7. 2026-06-13
   days on market $429,900 Active 8 DOM
8. 2026-06-09
   days on market $429,900 Active 4 DOM
9. 2026-06-08
   days on market $429,900 Active 3 DOM
10. 2026-06-07
    remarks 681-char remark
11. 2026-06-07
    listed $429,900 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: $5,219 · $435/mo
• Projected year-2 tax: $5,917 · $493/mo
• Expected delta: +$698/yr (+$58/mo · 13.4%)

ⓘ 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: $41,202
• − Mortgage interest: −$23,751
• − Property taxes: −$5,219
• − Insurance: −$2,120
• − Repairs & maintenance: −$3,296
• − Management: −$3,296
• − HOA: −$816
• − Depreciation: −$12,335
• Taxable loss: −$9,631
• Est. tax savings @ 24.0%: +$2,311
• After-tax cash flow: $23/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: Little Miami Local
• NCES district ID: 3905044
• Math proficiency: 67% ▼ -11.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $74,949
• Composite: 60.5/100
• National rank: #844
• State rank: #140 of 656 in OH

Livability — South Lebanon

• Score: 74/100
• State rank: #279
• US rank: #4589

Category grades

Amenities F Commute F 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

• County: Warren · 227,646 people
• City population: 7,053
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 13,577
• Household income: $120,340
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 5.6

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 2% Asian 2%
• Common ancestry: Romanian 7% Italian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Chinese 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: ▼ -108.41%
• Current HPI: 239.7828
• 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

+158.0% since first listed

19 events — show timeline

• 2026-06-05 Listed $429,900 Cincy MLS
• 2022-05-10 Sold (Public Records) $370,000 Public Records
• 2022-05-06 Sold (MLS) $370,000 Cincy MLS
• 2022-03-10 Contingent — Cincy MLS
• 2022-03-06 Listed $354,900 Cincy MLS
• 2022-02-28 Listing Removed — Cincy MLS
• 2022-01-21 Contingent — Cincy MLS
• 2021-11-22 Listed $349,900 Cincy MLS
• 2007-08-06 Sold (Public Records) $210,000 Public Records
• 2007-08-01 Sold (MLS) $210,000 Cincy MLS
• 2007-06-20 Sold (Public Records) $218,000 Public Records
• 2007-06-18 Listed $219,900 Cincy MLS
• 2007-06-18 Listing Removed — Cincy MLS
• 2007-03-30 Listed $222,222 Cincy MLS
• 2006-10-08 Listing Removed — Cincy MLS
• 2006-04-07 Listed $239,900 Cincy MLS
• 2000-12-22 Sold (MLS) $197,050 Cincy MLS
• 2000-10-05 Listed $197,050 Cincy MLS
• 2000-08-18 Sold (Public Records) $166,633 Public Records

Property tax history

+3.1%/yr

Latest (2025): $5,219 · +0.0% YoY. Source: county tax records.