741 Homeway Dr · New Lebanon, OH 45345

$204,900

3 bd · 1.5 ba · 1,110 sqft · SingleFamily public records · 6 Days on market

Built 1970 9,148 sqft lot Est $174k · 18% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Come right in and make yourself at home! You will enter into the living room and view the kitchen with extra cabinets and counter space and additional area for dining. Down the hall you will find a full bath, three bedrooms and off the master bedroom a half bath and utility area before entering back into the kitchen. Out through the patio doors you will find a large backyard with garden area and shed. Newer flooring throughout, tastefully decorated inside and nice landscaping outside.

Key facts

• Single-story layout
• Ranch home
• Well-maintained lawn

Tags

• RANCH HOME
• BRICK AND WOOD SIDING
• WELL-MAINTAINED LAWN
• MATURE SHADE TREES
• SINGLE-STORY LAYOUT
• 0.21-ACRE LOT

Property features AI

Finance

• Financial info: Property is for sale

Exterior

• Parking: Attached 1-car garage
• Utilities: Natural gas heating
• Home design: Single-story home; Brick and vinyl siding exterior; Slab foundation
• Construction: Brick and vinyl siding construction; Slab foundation
• Exterior features: Residential lot (approximately 0.21 acres)

Interior

• Kitchen: Kitchen on main level (approx. 16 x 11)
• Bedrooms: 3 bedrooms on the main level (approx. 11 x 10; 12 x 10; 12 x 11)
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (33.4% below list).
• Recommended offer: $136k (33.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#450 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• New Lebanon Local (town): math 43% / reading 56% proficiency, ranked #448 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $86k; list at $205k implies a 138% gain — meaningful room to come down on a strong offer.

Recommended offer $136,384 (33.4% below list)

Questions for the listing agent

1. 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?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $174,270
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
731 Homeway Dr	0.01mi	3/1.5	1,182 (+6%)	2mo	$184,000	$156	87
343 Dorothy Ln	0.14mi	3/1.0	1,053 (-5%)	10mo	$162,000	$154	75
448 Gregory Ave	0.34mi	3/1.5	1,182 (+6%)	5mo	$185,000	$157	69
425 Gregory Ave	0.38mi	3/1.5	1,026 (-8%)	10mo	$184,000	$179	61
418 Vanessa St	0.44mi	3/1.5	1,182 (+6%)	10mo	$200,000	$169	61
279 Lawson Ave	0.55mi	3/1.5	1,075 (-3%)	11mo	$206,000	$192	60
107 Glenada Ct	0.71mi	3/1.5	1,075 (-3%)	3mo	$185,000	$172	59
419 Rosetta St	0.47mi	3/1.5	1,243 (+12%)	3mo	$185,500	$149	55
31 Mills Pl	0.64mi	3/1.0	1,073 (-3%)	11mo	$150,000	$140	53
301 Lawson Ave	0.53mi	3/1.5	1,245 (+12%)	3mo	$205,000	$165	52
719 S Church St	0.74mi	3/1.0	1,034 (-7%)	1mo	$160,000	$155	52
250 Blosser St	0.72mi	3/2.0	1,200 (+8%)	11mo	$185,000	$154	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 2.65×
• Total profit: $94,923
• Equity at exit: $184,590

10-year hold

• IRR: 18.6%
• Equity multiple: 6.10×
• Total profit: $292,567
• Equity at exit: $398,076

Cash invested: $57,372 (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 45345

• Home prices YoY: 8.0%
• Active inventory: 20
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$179 /mo · $2,146/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-261

Break-even live

Break-even rent $1,695

Max offer price $158,734

Occupancy floor —

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Clinchfield Ct New Lebanon, OH	2.0	2.0	1362	$1,600	$1.17	2d	1	0.60mi
53 Gloria Ave Unit 53 New Lebanon, OH	2.0	1.0	834	$1,000	$1.20	2d	1	0.85mi

Listing history 6 events

1. 2026-06-18
   days on market $204,900 Active 6 DOM
2. 2026-06-17
   days on market $204,900 Active 5 DOM
3. 2026-06-16
   days on market $204,900 Active 4 DOM
4. 2026-06-15
   days on market $204,900 Active 3 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $204,900 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: $2,146 · $179/mo
• Projected year-2 tax: $2,671 · $223/mo
• Expected delta: +$525/yr (+$44/mo · 24.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,366
• − Mortgage interest: −$11,478
• − Property taxes: −$2,146
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$5,961
• Taxable loss: −$6,862
• Est. tax savings @ 24.0%: +$1,647
• After-tax cash flow: $-1,489/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: New Lebanon Local
• NCES district ID: 3904871
• Math proficiency: 43% ▼ -19.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $45,363
• Composite: 41.88/100
• National rank: #3369
• State rank: #448 of 656 in OH

Livability — New Lebanon

• Score: 70/100
• State rank: #450
• US rank: #7342

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Lebanon, OH
• County: Montgomery · 506,435 people
• City population: 5,923
• Metro: Dayton-Kettering-Beavercreek, OH
• Population (ZIP): 5,923
• Household income: $77,279
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 8.9

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 523,241 people
• By 2030: 514,948 · -1.6%
• By 2040: 493,378 · -5.7%
• By 2050: 469,639 · -10.2%
• By 2075: 418,360 · -20.0%
• By 2100: 353,315 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Black 2%
• Common ancestry: Romanian 3% Slovak 1% Scottish 1%
• Foreign-born: 0% · China
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 49.8% · R 49.3%
• 2008→2024 swing: -5.8pp toward R · 2008: 6.2pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+2.2 2016: R+1.2 2012: D+3.1 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.56%
• Current HPI: 370.29
• 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

+712.7% since first listed

17 events — show timeline

• 2026-06-10 Listed $204,900 Dayton MLS
• 2019-03-18 Sold (Public Records) $86,000 Public Records
• 2019-03-08 Sold (MLS) $86,000 Dayton MLS
• 2019-03-08 Sold (MLS) $86,000 Dayton MLS
• 2019-01-25 Price Changed $86,000 Dayton MLS
• 2019-01-25 Pending — Dayton MLS
• 2018-12-28 Listed $84,900 Dayton MLS
• 2018-12-27 Listing Removed — Dayton MLS
• 2018-11-21 Price Changed $84,900 Dayton MLS
• 2018-10-17 Price Changed $86,900 Dayton MLS
• 2018-09-27 Listed $89,900 Dayton MLS
• 2017-02-16 Listing Removed — Dayton MLS
• 2016-09-30 Listed $83,500 Dayton MLS
• 2010-09-08 Sold (Public Records) $63,500 Public Records
• 1994-01-20 Sold (Public Records) $62,000 Public Records
• 1994-01-20 Sold (Public Records) $62,000 Public Records
• 1993-09-02 Sold (Public Records) $25,212 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,146 · -0.1% YoY. Source: county tax records.