1 E Main St · New Lebanon, OH 45345

$215,000

5 bd · 3.0 ba · 1,700 sqft · MultiFamily · 17 Days on market

Built 1909 Fair condition 4,356 sqft lot

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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 +15.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

FOR SALE BY OWNER $215,000 2 N Church St, New Lebanon, OH 45345 Large property with endless potential! This spacious home can be used as a duplex/income property or a large single-family home. Great opportunity for an investor, multi-generational living, or someone looking for a property with flexible space and character. Features: Approx. 1,760 sq ft Flexible 4-5 bedroom layout 2+ bathrooms Basement New roof installed in 2020 Corner lot Duplex or single-family home potential Spacious rooms and older home charm Home is being sold AS-IS and does need repairs and updates, but offers strong potential for the right buyer. Lot size approximately 0.18 acres. New Lebanon

Key facts

• New roof installed
• Corner lot
• 4,356 sq ft lot

Tags

• CORNER LOT
• NEW ROOF INSTALLED

Property features AI

Exterior

• Home design: Multi-family property
• Construction: About 1,700 square feet of living space
• Exterior features: Lot approximately 0.1 acre

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (7.0% below list).
• Recommended offer: $200k (7.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#450 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• New Lebanon Local (town): math 43% / reading 56% proficiency, ranked #448 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 31% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000 (7.0% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1909 — 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 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.88%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 3.05×
• Total profit: $123,123
• Equity at exit: $193,689

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $357,921
• Equity at exit: $417,698

Cash invested: $60,200 (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 45345

• Home prices YoY: 8.0%
• Active inventory: 20
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $94

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 90%

Sensitivity live

Price	-10% $243	-5% $168	+0% $94	+5% $20	+10% $-54
Rent	-10% $-64	-5% $15	+0% $94	+5% $173	+10% $252
Rate	-1.0pp $202	-0.5pp $149	base $94	+0.5pp $38	+1.0pp $-18

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,000
Total (2 units)			$2,000

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
570 Holderman Pl New Lebanon, OH	4.0	3.0	2007	$2,200	$1.10	3d	1	0.67mi
575 Holderman Pl New Lebanon, OH	4.0	3.0	2007	$2,200	$1.10	3d	1	0.69mi

Listing history 12 events

1. 2026-06-21
   days on market $215,000 Active 17 DOM
2. 2026-06-18
   days on market $215,000 Active 14 DOM
3. 2026-06-17
   days on market $215,000 Active 13 DOM
4. 2026-06-16
   days on market $215,000 Active 12 DOM
5. 2026-06-15
   days on market $215,000 Active 11 DOM
6. 2026-06-14
   days on market $215,000 Active 9 DOM
7. 2026-06-10
   days on market $215,000 Active 6 DOM
8. 2026-06-09
   days on market $215,000 Active 5 DOM
9. 2026-06-08
   days on market $215,000 Active 4 DOM
10. 2026-06-07
    days on market $215,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $215,000 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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$6,255
• Taxable loss: −$2,438
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $1,715/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 · 9 photos

Fair 45/100 Moderate rehab

This multi-family property requires a moderate level of renovation, including kitchen and bathroom updates, and landscaping improvements. The home has potential for increased value through these upgrades.

Repairs flagged

• Major Kitchen appliances — The kitchen appliances are outdated and in need of replacement.
• Major Bathroom fixtures — The bathroom fixtures are outdated and in need of replacement.
• Major Flooring — The flooring in the kitchen and bathrooms is outdated and in need of replacement.
• Major Paint — The paint on the interior walls and ceilings is peeling and in need of a fresh coat.
• Major Landscaping — The landscaping is minimal and in need of maintenance.

Value-add opportunities

• Both Kitchen renovation — A new kitchen with updated appliances and cabinetry would significantly increase the home's value for both resale and rental.
• Both Bathroom renovation — Upgrading the bathrooms with new fixtures and tile would improve the home's appeal and increase its value for both resale and rental.
• Both Landscaping — A well-maintained and landscaped yard would improve the home's curb appeal and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · The kitchen appliances are outdated and in need of replacement.	Major	$15,000–50,000
Bathroom fixtures · The bathroom fixtures are outdated and in need of replacement.	Major	$15,000–50,000
Flooring · The flooring in the kitchen and bathrooms is outdated and in need of replacement.	Major	$15,000–50,000
Paint · The paint on the interior walls and ceilings is peeling and in need of a fresh coat.	Major	$15,000–50,000
Landscaping · The landscaping is minimal and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Kitchen renovation — A new kitchen with updated appliances and cabinetry would significantly increase the home's value for both resale and rental. ↑
• Both Bathroom renovation — Upgrading the bathrooms with new fixtures and tile would improve the home's appeal and increase its value for both resale and rental. ↑
• Both Landscaping — A well-maintained and landscaped yard would improve the home's curb appeal and increase its value for both resale and rental. ↑

ⓘ 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: New Lebanon Local
• NCES district ID: 3904871
• Math proficiency: 43% ▼ -19.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $45,363
• Composite: 41.88/100
• National rank: #3369
• State rank: #448 of 656 in OH

Livability — New Lebanon

• Score: 70/100
• State rank: #450
• US rank: #7342

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Lebanon, OH
• County: Montgomery · 506,435 people
• City population: 5,923
• Metro: Dayton-Kettering-Beavercreek, OH
• Population (ZIP): 5,923
• Household income: $77,279
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 8.9

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 523,241 people
• By 2030: 514,948 · -1.6%
• By 2040: 493,378 · -5.7%
• By 2050: 469,639 · -10.2%
• By 2075: 418,360 · -20.0%
• By 2100: 353,315 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Black 2%
• Common ancestry: Romanian 3% Slovak 1% Scottish 1%
• Foreign-born: 0% · China
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 49.8% · R 49.3%
• 2008→2024 swing: -5.8pp toward R · 2008: 6.2pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+2.2 2016: R+1.2 2012: D+3.1 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.56%
• Current HPI: 370.29
• 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

1 event — show timeline

• 2026-06-04 Listed $215,000 ForSaleByOwner.com