1238 Vanderveer Ave · Hamilton, OH 45011

$189,000

3 bd · 1.0 ba · 837 sqft · SingleFamily public records · 9 Days on market

Built 1924 3,485 sqft lot Est $162k · 17% over

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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 +14.6/30.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated 3 bed / 1 bath cape cod with brand new everything!!! Improvements include: new roof, new windows, new HVAC, new water heater, new kitchen & bathroom, new appliances, new flooring throughout, new electric, new plumbing, new light fixtures, and fresh paint. All work permitted by the City of Hamilton and up to today's building codes. Full basement. Nothing to do but move in! Owner/Agent

Key facts

• Newer roof
• Landscaped back yard
• Privacy fence

Tags

• NEWER ROOF
• NEWER WINDOWS
• NEWER HVAC
• NEWER WATER HEATER
• LANDSCAPED BACK YARD
• PRIVACY FENCE

Property features AI

Finance

• Other: Lease not considered
• HOA & community: No HOA

Exterior

• Parking: Detached garage (rear) with 1 garage space; On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Poured foundation; Garage detached (rear)
• Construction: Vinyl siding construction; Shingle roof; Poured foundation
• Exterior features: Privacy fencing; Double-hung windows; Shingle roof; Vinyl siding; City street access

Interior

• Kitchen: Wood cabinets; Oven/Range; Refrigerator
• Bedrooms: 3 bedrooms total; Primary bedroom on level 1 (16 x 9); Second bedroom on level 1 (13 x 7); Third bedroom on level 2 (12 x 9)
• Bathrooms: 1 full bathroom on level 1 with shower
• Heating & cooling: Forced air gas heating; Central air conditioning; Gas water heater
• Interior features: Ceiling fan; 6 total rooms; Full unfinished basement
• Laundry & utility: Garage door opener (smart technology)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $45 ($539/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 $152k (19.8% below list).
• Recommended offer: $152k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.6% in Hamilton — 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 73/100 on livability (#332 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime C-, amenities C-, employment D.
• Hamilton City (suburban): math 42% / reading 45% proficiency, ranked #517 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 196 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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.
• Current owner paid $155k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,664 (19.8% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $161,541
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1327 Dayton St	0.14mi	2/1.0 (-1)	816 (-2%)	7mo	$169,900	$208	78
407 N Fair Ave	0.39mi	2/2.0 (-1)	806 (-4%)	3mo	$215,000	$267	64
314 Hudson Ave	0.28mi	2/1.0 (-1)	761 (-9%)	5mo	$120,000	$158	62
210 N Eleventh St	0.22mi	2/1.0 (-1)	938 (+12%)	3mo	$89,900	$96	62
1612 Irma Ave	0.44mi	2/1.0 (-1)	748 (-11%)	2mo	$115,500	$154	54
203 Michael Ave	0.62mi	3/1.0	925 (+10%)	2mo	$199,500	$216	52
1208 Reservoir St	0.75mi	2/1.0 (-1)	792 (-5%)	8mo	$197,500	$249	44
1110 Shuler Ave	0.70mi	2/1.0 (-1)	768 (-8%)	6mo	$124,900	$163	44
14 Dorsey Dr	0.72mi	3/1.0	925 (+10%)	6mo	$185,000	$200	43
946 Corliss Ave	0.51mi	2/1.0 (-1)	720 (-14%)	6mo	$139,000	$193	43
1217 Vine St	0.69mi	2/1.5 (-1)	936 (+12%)	7mo	$165,000	$176	35
1136 Kahn Ave	0.73mi	2/1.0 (-1)	948 (+13%)	7mo	$158,000	$167	33

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-27,915
• Equity at exit: $28,181

10-year hold

• IRR: -6.3%
• Equity multiple: 0.60×
• Total profit: $-21,229
• Equity at exit: $16,341

Cash invested: $52,920 (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 45011

• Rents YoY: 3.0%
• Active inventory: 196
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$991
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $45

Break-even live

Break-even rent $1,460

Max offer price $189,000

Occupancy floor 92%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
829 Maple Ave Unit 3 Hamilton, OH	3.0	1.0	1097	$945	$0.86	44d	1	0.38mi
1310 Shuler Ave Unit 2 Hamilton, OH	2.0	1.0	976	$895	$0.92	24d	1	0.91mi
358 Hampshire Dr Hamilton, OH	1.0–2.0	1.0	687	$1,250	$1.82	2d	23	0.91mi
358 Hampshire Dr Unit 1FNA-49401 Hamilton, OH	2.0	1.0	788	$1,200	$1.52	7d	1	0.91mi
115 Dayton St Unit MAR-201 Hamilton, OH	2.0	2.0	1040	$1,775	$1.71	4d	1	0.94mi
1118 Bonacker Ave Unit 1116 Hamilton, OH	2.0	1.0	1000	$1,195	$1.20	44d	1	1.06mi

Listing history 8 events

1. 2026-06-18
   days on market $189,000 Active 9 DOM
2. 2026-06-17
   days on market $189,000 Active 8 DOM
3. 2026-06-16
   days on market $189,000 Active 7 DOM
4. 2026-06-15
   days on market $189,000 Active 6 DOM
5. 2026-06-13
   days on market $189,000 Active 4 DOM
6. 2026-06-13
   days on market $189,000 Active 3 DOM
7. 2026-06-10
   remarks 262-char remark
8. 2026-06-10
   listed $189,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $1,001 · $83/mo
• Projected year-2 tax: $1,974 · $165/mo
• Expected delta: +$974/yr (+$81/mo · 97.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,200
• − Mortgage interest: −$10,587
• − Property taxes: −$1,001
• − Insurance: −$945
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$5,498
• Taxable loss: −$2,743
• Est. tax savings @ 24.0%: +$658
• After-tax cash flow: $1,197/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: Hamilton City
• NCES district ID: 3904410
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $40,488
• Composite: 36.48/100
• National rank: #4656
• State rank: #517 of 656 in OH

Livability — Hamilton

• Score: 73/100
• State rank: #332
• US rank: #5467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamilton, OH
• County: Butler County · 381,674 people
• City population: 140,900
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 75,864
• Household income: $91,873
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 1795.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 12% Black 11% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Vietnamese 1%

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: ▼ -188.67%
• Current HPI: 259.7868
• Rent YoY: ▲ 2.95%
• 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

Price history

+671.4% since first listed

15 events — show timeline

• 2026-06-09 Listed $189,000 Cincy MLS
• 2024-05-17 Sold (MLS) $155,000 Cincy MLS
• 2024-04-19 Listing Removed — Dayton MLS
• 2024-04-04 Contingent — Cincy MLS
• 2024-03-26 Relisted — Cincy MLS
• 2024-03-26 Relisted — Dayton MLS
• 2024-03-19 Pending — Dayton MLS
• 2024-03-19 Contingent — Cincy MLS
• 2024-03-18 Listed $159,900 Dayton MLS
• 2024-03-18 Listed $159,900 Cincy MLS
• 2021-09-07 Sold (Public Records) $250,000 Public Records
• 2003-09-19 Sold (Public Records) $69,000 Public Records
• 2003-09-08 Sold (MLS) $69,000 Cincy MLS
• 2003-07-17 Listed $59,900 Cincy MLS
• 1979-07-01 Sold (Public Records) $24,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,001 · -2.0% YoY. Source: county tax records.