371 S Charity St

Bethel, OH 45106

$219,900F

3 bd · 1.0 ba · 1,244 sqft · Built 1983 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-377/mo
• Annual: $-4,530/yr
• Cap rate: 4.23%
• Cash-on-cash: -7.36%
• DSCR: 0.67
• 1% rule: 0.58%
• Cash to close: $61,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-377 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (30.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (41.9% below list).
• It's been on market 18 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (41.9% below list) — sets the bar for 1% rule.
• 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.
• Location reads 66/100 on livability (#685 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Bethel-Tate Local (town): math 61% / reading 67% proficiency, ranked #224 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bick Primary Elementary School (369 students, 39% FRL); Bethel-Tate Middle School (math 57% / reading 65%, grade B+, #252 of 654 statewide, top 39%, 319 students, 48% FRL); Bethel Tate High School (math 47% / reading 72%, grade C+, #243 of 781 statewide, top 33%, 401 students, 48% FRL).
• Market conditions: 25 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• 4 sale attempts since 22y 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 $60k; list at $220k implies a 267% gain — meaningful room to come down on a strong offer.
• Cap rate 4.2% vs local median 2.9% in Bethel — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.