606 W Pike St · Morrow, OH 45152

$224,900

2 bd · 1.0 ba · 1,101 sqft · SingleFamily public records · 12 Days on market

Built 1940 7,405 sqft lot Est $218k · at est.

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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 +13.7/30.0
• ARV discount +6.1/15.0
• Schools +6.1/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location. First business site as you enter Morrow. Located across the street from Buckley Brothers. This Craftsman-style ranch can be used for business or residential. 4 potential offices plus a conference room, kitchen and bath. Residentially, 2 bedrooms, 1 bath. Siding, shutters and A/C 2025. Freshly painted. Front rooms feature newly refinished HDWD. New LVP in kitchen and bath. Spacious, detached garage. Concrete parking lot will hold approx. 8 cars. Ideal space for real estate, insurance and other type sales. Good visibility.

Key facts

• Off street parking
• New carpet
• New lvp

Tags

• CRAFTSMAN-STYLE RANCH
• ORIGINAL HARDWOOD FLOORING
• NEW CARPET
• NEW LVP
• NEWER METAL ROOF
• OFF STREET PARKING

Property features AI

Finance

• Other: Zoned residential; Lot irregular, approximately 0.17 acres
• HOA & community: No HOA

Exterior

• Parking: Detached oversized garage (1 garage space); Concrete parking surface
• Utilities: Public water; Public sewer; Electric service
• Home design: Ranch-style single-family home; One level
• Construction: Block foundation
• Exterior features: Porch; Privacy vinyl fencing; Shingle roof; Vinyl siding; Vinyl windows

Interior

• Kitchen: Kitchen with walkout; Microwave, Refrigerator
• Bedrooms: 2 bedrooms total; Primary bedroom (18 x 10) on main level; Second bedroom (12 x 10) on main level
• Flooring: Wood floors in dining and living rooms
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Electric forced-air heating; Central air conditioning; Electric water heater
• Interior features: 6 total rooms; Partial basement with glass block windows; Walkout from kitchen and living room; Wood floors in dining and living rooms
• Laundry & utility: Sump pump with backup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $17 ($207/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 $186k (17.3% below list).
• Recommended offer: $186k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Morrow — 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 75/100 on livability (#266 in OH, #4,231 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: 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.
• Zoned schools: Little Miami Primary School (math 76% / reading 65%, grade A-, #376 of 1,584 statewide, top 24%, 855 students, 18% FRL); Little Miami Middle School (math 67% / reading 72%, grade A, #143 of 654 statewide, top 23%, 1,279 students, 16% FRL); Little Miami High School (math 52% / reading 81%, grade B, #150 of 781 statewide, top 20%, 1,445 students, 14% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 127 active listings in the ZIP; high-income renter base; 1,224 units permitted in Warren County in 2024 (474 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.
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y ago; this cycle's ask has dropped $24k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $225k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $186,073 (17.3% below list)

Questions for the listing agent

1. Built in 1940 — 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: 0.83% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $217,998
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Pattison Ave	0.45mi	3/1.0 (+1)	1,152 (+5%)	0mo	$228,000	$198	66
113 Kibbey Ave	0.44mi	3/2.0 (+1)	1,147 (+4%)	0mo	$225,000	$196	64
100 Kibbey Ave	0.44mi	3/2.0 (+1)	1,184 (+8%)	8mo	$257,000	$217	51

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-35,379
• Equity at exit: $33,533

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-29,532
• Equity at exit: $19,445

Cash invested: $62,972 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,861 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$180 /mo · $2,155/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $17

Break-even live

Break-even rent $1,839

Max offer price $224,900

Occupancy floor 94%

Sensitivity live

Price	-10% $145	-5% $81	+0% $17	+5% $-46	+10% $-110
Rent	-10% $-130	-5% $-56	+0% $17	+5% $91	+10% $164
Rate	-1.0pp $131	-0.5pp $74	base $17	+0.5pp $-41	+1.0pp $-100

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   pricedays on market $224,900 Active 12 DOM
2. 2026-06-18
   days on market $249,000 Active 9 DOM
3. 2026-06-17
   days on market $249,000 Active 8 DOM
4. 2026-06-16
   days on market $249,000 Active 7 DOM
5. 2026-06-15
   days on market $249,000 Active 6 DOM
6. 2026-06-13
   remarks 590-char remark
7. 2026-06-13
   days on market $249,000 Active 4 DOM
8. 2026-06-10
   remarks 574-char remark
9. 2026-06-10
   listed $249,000 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: $2,155 · $180/mo
• Projected year-2 tax: $2,832 · $236/mo
• Expected delta: +$677/yr (+$56/mo · 31.4%)

ⓘ 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 2/10 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,329
• − Mortgage interest: −$12,598
• − Property taxes: −$2,155
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,786
• − Management: −$1,786
• − Depreciation: −$6,543
• Taxable loss: −$3,664
• Est. tax savings @ 24.0%: +$879
• After-tax cash flow: $1,086/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 — Morrow

• Score: 75/100
• State rank: #266
• US rank: #4231

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrow, OH
• County: Warren · 227,646 people
• 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

+211.6% since first listed

7 events — show timeline

• 2026-06-09 Listed $249,000 Cincy MLS
• 2025-12-07 Listing Removed — Cincy MLS
• 2025-11-19 Relisted — Cincy MLS
• 2025-11-07 Contingent — Cincy MLS
• 2025-11-06 Listed $275,000 Cincy MLS
• 1998-09-21 Sold (MLS) $75,000 Cincy MLS
• 1998-02-19 Listed $79,900 Cincy MLS

Property tax history

+2.6%/yr

Latest (2025): $2,155 · -0.2% YoY. Source: county tax records.