212 Duchess Ln

Mount Carmel, OH 45255

$175,000D

2 bd · 2.5 ba · 1,404 sqft · Built 1975 · Townhouse · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,618/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$320
• Vac / Maint / Mgmt: −$340
• Net cashflow: $-252/mo
• Annual: $-3,019/yr
• Cap rate: 4.57%
• Cash-on-cash: -6.16%
• DSCR: 0.73
• 1% rule: 0.92%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.5-bath townhouse listed at $175k. Condition is rated good.
• At list price, monthly cash flow is $-252 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (7.6% below list).
• It's been on market 69 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $139k (20.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#583 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D-, amenities F, commute F.
• West Clermont Local (suburban): math 51% / reading 57% proficiency, ranked #373 of 656 in OH (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 44 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• Cap rate 4.6% vs local median 3.4% in Mount Carmel — 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.

Questions for listing agent

• 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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?