158 Montana Dr · Lake Waynoka, OH 45171

$229,900

3 bd · 2.0 ba · 1,062 sqft · SingleFamily public records · 25 Days on market

Built 2001 0.37 ac lot $92/mo HOA · 4% of rent

---

Why this score? — see what drove the C- 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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Schools +4.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home is located in the serene Lake Waynoka community. Lake Waynoka amenities include a private lake, beach, marina, community pool, and workout facility. With recent updates this home is ready to be made yours!

Key facts

• Boating
• Beach
• Pool

Tags

• LAKE WAYNOKA COMMUNITY
• BOATING
• FISHING
• BEACH
• POOL

Property features AI

Finance

• Other: Residential zoning
• HOA & community: Part of Lake Waynoka association; Annual association fee (owner-paid) of $1,100

Exterior

• Parking: Detached garage (1-car); Gravel driveway
• Utilities: Public water; Septic system with grinder pump; Electric water heater; Electric power
• Home design: Ranch-style single-family home; One-level layout; Block foundation
• Construction: Vinyl siding; Vinyl windows; Shingle roof; Built on block foundation
• Exterior features: Less than 0.5 acre lot; Paved road access; Community amenities include boating, fishing, fitness, golf cart use, and water features

Interior

• Kitchen: Tile floor; Wood cabinets
• Bedrooms: Three bedrooms, all on the main level; Primary bedroom about 12 x 13; Second bedroom about 12 x 10; Third bedroom about 11 x 10
• Flooring: Wood floors in living and dining areas; Tile in the kitchen
• Bathrooms: Two full bathrooms on the main level; Primary bathroom includes a shower
• Heating & cooling: Electric forced-air heating; Window air-conditioning unit
• Interior features: Crown molding; 7 total rooms
• Laundry & utility: Main-level laundry room (approx. 8 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,010 in OH) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Eastern Local (rural): math 51% / reading 61% proficiency, ranked #350 of 656 in OH (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 147 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Brown County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $180k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $226,451 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.36%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-15,529
• Equity at exit: $34,279

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $14,411
• Equity at exit: $19,878

Cash invested: $64,372 (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 45171

• Home prices YoY: -10.8%
• Active inventory: 86
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,340 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$96
• HOA: −$92
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $341

Break-even live

Break-even rent $1,908

Max offer price $229,900

Occupancy floor 80%

Sensitivity live

Price	-10% $471	-5% $406	+0% $341	+5% $276	+10% $211
Rent	-10% $156	-5% $249	+0% $341	+5% $434	+10% $526
Rate	-1.0pp $457	-0.5pp $400	base $341	+0.5pp $282	+1.0pp $221

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 Rio Brazos Dr Lake Waynoka, OH	3.0	2.0	1320	$2,340	$1.77	45d	1	1.40mi

HOA detail

• Monthly dues: $92 · $1,104/yr
• Likely covers: pool

Listing history 23 events

1. 2026-06-21
   days on market $229,900 Active 25 DOM
2. 2026-06-21
   days on market $229,900 Active 24 DOM
3. 2026-06-18
   days on market $229,900 Active 22 DOM
4. 2026-06-17
   days on market $229,900 Active 21 DOM
5. 2026-06-16
   days on market $229,900 Active 20 DOM
6. 2026-06-15
   days on market $229,900 Active 19 DOM
7. 2026-06-13
   days on market $229,900 Active 17 DOM
8. 2026-06-12
   days on market $229,900 Active 16 DOM
9. 2026-06-09
   days on market $229,900 Active 13 DOM
10. 2026-06-09
    price $229,900 Active 12 DOM
11. 2026-06-08
    days on market $239,900 Active 12 DOM
12. 2026-06-08
    days on market $239,900 Active 11 DOM
13. 2026-06-07
    days on market $239,900 Active 10 DOM
14. 2026-06-04
    days on market $239,900 Active 7 DOM
15. 2026-06-02
    days on market $239,900 Active 6 DOM
16. 2026-06-01
    days on market $239,900 Active 5 DOM
17. 2026-05-31
    days on market $239,900 Active 4 DOM
18. 2026-05-27
    listed $239,900 Active
19. 2024-06-14
    soldstatus $180,000 Sold 233-char remark

    Show marketing remark (233 chars)

    This 3-bedroom, 2-bath home is located in the serene Lake Waynoka community. Lake Waynoka amenities include a private lake, beach, marina, community pool, and workout facility. With recent updates this home is ready to be made yours!

20. 2024-05-18
    historical Contingency Pending 233-char remark

    Show marketing remark (233 chars)

    This 3-bedroom, 2-bath home is located in the serene Lake Waynoka community. Lake Waynoka amenities include a private lake, beach, marina, community pool, and workout facility. With recent updates this home is ready to be made yours!

21. 2024-05-17
    listed $170,000 Active 233-char remark

    Show marketing remark (233 chars)

    This 3-bedroom, 2-bath home is located in the serene Lake Waynoka community. Lake Waynoka amenities include a private lake, beach, marina, community pool, and workout facility. With recent updates this home is ready to be made yours!

22. 2011-08-18
    soldstatus $63,500
23. 2011-08-18
    soldstatus $63,500

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $2,476 · $206/mo
• Expected delta: +$1,110/yr (+$93/mo · 81.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,080
• − Mortgage interest: −$12,878
• − Property taxes: −$1,366
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,246
• − Management: −$2,246
• − HOA: −$1,104
• − Depreciation: −$6,688
• Taxable income: $401
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $4,000/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: Eastern Local
• NCES district ID: 3904603
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $50,895
• Composite: 47.81/100
• National rank: #2226
• State rank: #350 of 656 in OH

Livability — Lake Waynoka

• Score: 59/100
• State rank: #1010
• US rank: #19948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Waynoka, OH
• County: Brown · 38,418 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 5,770
• Household income: $63,780
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 2.0

Population outlook (Brown County) Hauer SSP2

• Today (2025): 41,243 people
• By 2030: 39,382 · -4.5%
• By 2040: 35,196 · -14.7%
• By 2050: 30,743 · -25.5%
• By 2075: 21,870 · -47.0%
• By 2100: 15,069 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Iranian 2% Slovak 2%
• Foreign-born: 0% · Canada

Political lean MEDSL · Brown

• 2024 margin: Solid R (+61.5) · D 19.0% · R 80.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -23.3pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+57.4 2016: R+52.2 2012: R+25.1 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.85%
• Current HPI: 295.9141
• 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

+277.8% since first listed

6 events — show timeline

• 2026-05-27 Listed $239,900 Cincy MLS
• 2024-06-14 Sold (MLS) $180,000 Cincy MLS
• 2024-05-18 Contingent — Cincy MLS
• 2024-05-17 Listed $170,000 Cincy MLS
• 2011-08-18 Sold (Public Records) $63,500 Public Records
• 2011-08-18 Sold (Public Records) $63,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,366 · +0.0% YoY. Source: county tax records.