318 Clinton St

Kenton, OH 43326

$99,900B+

4 bd · 2.0 ba · 2,010 sqft · Built — · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,393/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $418/mo
• Annual: $5,013/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• 1% rule: 1.39%
• Cash to close: $27,972

Investor read

• This is a 4-bed/2.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#339 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Kenton City (town): math 46% / reading 50% proficiency, ranked #479 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenton Elementary School (math 47% / reading 46%, grade D-, #973 of 1,584 statewide, top 62%, 1,028 students, 55% FRL); Kenton Middle School (math 47% / reading 53%, grade C, #416 of 654 statewide, top 64%, 267 students, 52% FRL); Kenton High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 541 students, 46% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 53 active listings in the ZIP; 18 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).
• Hardin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.3% vs local median 5.0% in Kenton — 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.
• This rent runs 31% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.