111 W Warren St · Lebanon, OH 45036

$100,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 4 Days on market

Built 1901 10,846 sqft lot Est $138k · 27% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +5.9/10.0
• Rent growth +4.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity in Lebanon! This 2 bedroom, 1 bath home offers approximately 672 SF on a . 249 acre lot with detached garage, enclosed rear porch/sunroom, and original hardwood flooring. Property features tall ceilings, vinyl siding, stone foundation, front deck, and a functional layout ready for updates and improvements. Interior condition reflects the need for cosmetic updates and repairs including paint, flooring refinishing, kitchen and bath improvements, lighting, and general maintenance. Rear enclosed porch provides additional flex space and renovation potential. Detached garage and spacious backyard provide additional storage and outdoor space. Property is being sold AS-IS. Buyer respons

Key facts

• Tall ceilings
• Enclosed rear porch
• Vinyl siding

Tags

• DETACHED GARAGE
• ENCLOSED REAR PORCH
• ORIGINAL HARDWOOD FLOORING
• TALL CEILINGS
• VINYL SIDING
• STONE FOUNDATION

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Sewer available
• Home design: Single-story home
• Construction: Aluminum siding; Vinyl siding; Stone accents
• Exterior features: Irregular-shaped residential lot (~0.25 acre)

Interior

• Kitchen: Main-level kitchen (~14 x 10)
• Bedrooms: Two bedrooms on the main level (one ~10 x 10, one ~10 x 8)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric heating
• Interior features: Partial basement; Decorative wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.4% vs local median 2.5% in Lebanon — 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 70/100 on livability (#457 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lebanon City (suburban): math 67% / reading 69% proficiency, ranked #151 of 656 in OH (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.3%/yr); 289 active listings in the ZIP; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• This rent is only 18% of the median local income ($99k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• 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.
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.47% ✓
• Cap rate: 12.42%
• Cash-on-cash: 21.90%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $137,760
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 W Warren St	0.00mi	2/1.0	672 (0%)	1mo	$100,000	$149	100
12 N Water St	0.11mi	1/1.0 (-1)	700 (+4%)	12mo	$168,000	$240	73
117 W Silver St	0.07mi	2/1.0	733 (+9%)	11mo	$149,900	$205	73

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.74×
• Total profit: $20,609
• Equity at exit: $14,910

10-year hold

• IRR: 29.1%
• Equity multiple: 4.24×
• Total profit: $90,821
• Equity at exit: $8,646

Cash invested: $28,000 (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 45036

• Rents YoY: 8.3%
• Active inventory: 289
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,472 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$86 /mo · $1,027/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $455

Break-even live

Break-even rent $895

Max offer price $100,000

Occupancy floor 64%

Sensitivity live

Price	-10% $512	-5% $484	+0% $455	+5% $427	+10% $399
Rent	-10% $339	-5% $397	+0% $455	+5% $514	+10% $572
Rate	-1.0pp $506	-0.5pp $481	base $455	+0.5pp $429	+1.0pp $403

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   status Pending
2. 2026-05-16
   listed $100,000 Active

ⓘ 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: $1,027 · $86/mo
• Projected year-2 tax: $1,294 · $108/mo
• Expected delta: +$266/yr (+$22/mo · 25.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,660
• − Mortgage interest: −$5,602
• − Property taxes: −$1,027
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − Depreciation: −$2,909
• Taxable income: $4,130
• Est. tax owed @ 24.0%: −$991
• After-tax cash flow: $4,473/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: Lebanon City
• NCES district ID: 3904421
• Math proficiency: 67% ▼ -2.00%
• Reading proficiency: 69% ▼ -3.00%
• Median HH income: $66,118
• Composite: 59.25/100
• National rank: #936
• State rank: #151 of 656 in OH

Livability — Lebanon

• Score: 70/100
• State rank: #457
• US rank: #7561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, OH
• County: Warren County · 196,906 people
• City population: 42,204
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 42,204
• Household income: $99,128
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 904.0

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 (84%)
• Race & ethnicity: White 84% Black 8% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 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: ▼ -165.95%
• Current HPI: 239.4833
• Rent YoY: ▲ 8.33%
• 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

2 events — show timeline

• 2026-05-20 Pending — Dayton MLS
• 2026-05-16 Listed $100,000 Dayton MLS

Property tax history

+3.3%/yr

Latest (2025): $1,027 · +0.0% YoY. Source: county tax records.