425 Richard · Tipp City, OH 45371

$244,000

4 bd · 2.0 ba · 1,570 sqft · SingleFamily public records · 22 Days on market

Built 1988 0.31 ac lot $155/sqft · 12% below area Est $276k · 12% under

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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 +14.5/30.0
• ARV discount +12.8/15.0
• Schools +6.3/10.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 4-bedroom, 2-bath brick ranch in the highly desirable Tipp City area — a solid, well-built home offering comfort, convenience, and room to make it your own. The single-story layout features a bright living area with a vaulted ceiling and paddle fans, creating an open, airy feel from the moment you step inside. The efficient galley kitchen provides a practical workspace with easy access to the dining and living areas, making everyday routines simple and functional. All four bedrooms offer flexibility for family, guests, or home-office needs. A 2-car attached garage adds convenience, while the concrete patio out back is perfect for relaxing, grilling, or enjoying warm evenings outdoors. While the home could benefit from some cosmetic updates, it has been priced accordingly, giving buyers an excellent opportunity to add personal touches and build equity in a sought-after community. This is a solid, well-located property with great potential — ideal for anyone looking for a dependable home with room to update and customize over time.

Key facts

• Galley kitchen
• Attached garage
• Concrete patio

Tags

• BRICK RANCH
• SINGLE STORY LAYOUT
• GALLEY KITCHEN
• CONCRETE PATIO
• ATTACHED GARAGE

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Supplied water; Public sewer; Natural gas connected; Sewer connected
• Home design: Single family residence; House; Built in 1988
• Construction: Brick and wood siding exterior; Slab foundation
• Exterior features: Porch; Patio; Plat; Residential lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Master bedroom (16 x 15); Bedroom (14 x 10); Bedroom (11 x 10); Bedroom (12 x 12)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cathedral ceilings; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $244k.

Deal economics

• At list price, monthly cash flow is $54 ($645/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (10.9% below list).
• Recommended offer: $217k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.1% in Tipp City — 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 80/100 on livability (#125 in OH, #1,827 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tipp City Exempted Village (suburban): math 70% / reading 76% proficiency, ranked #108 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $217,371 (10.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
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: 0.89% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (median comp): $276,392
• List price: $244,000
• Delta: -11.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3174 Gardenia Dr	0.41mi	3/2.0 (-1)	1,608 (+2%)	4mo	$225,000	$140	69
3220 Gardenia Dr	0.36mi	3/2.0 (-1)	1,502 (-4%)	5mo	$285,000	$190	67
295 Kessler Cowl Rd	0.48mi	3/1.0 (-1)	1,568 (-0%)	5mo	$255,000	$163	64
195 Kessler Cowl Rd	0.52mi	3/1.5 (-1)	1,624 (+3%)	1mo	$200,000	$123	62
3270 Redbud Dr	0.40mi	3/2.0 (-1)	1,696 (+8%)	5mo	$295,000	$174	59
3415 Magnolia Dr	0.37mi	3/2.0 (-1)	1,491 (-5%)	12mo	$245,000	$164	59
445 W Kessler Cowlesville Rd	0.46mi	3/1.0 (-1)	1,589 (+1%)	10mo	$275,000	$173	59
2896 Red Oak Cir	0.67mi	3/2.0 (-1)	1,486 (-5%)	0mo	$300,000	$202	55
245 Wisteria Dr	0.47mi	3/2.0 (-1)	1,696 (+8%)	6mo	$279,000	$165	54
2731 Walnut Ridge Dr	0.74mi	3/2.5 (-1)	1,608 (+2%)	10mo	$360,000	$224	46
445 Wisteria Dr	0.46mi	3/1.5 (-1)	1,360 (-13%)	8mo	$225,000	$165	43
1117 Honeydew Dr	0.60mi	3/2.0 (-1)	1,795 (+14%)	3mo	$339,990	$189	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-36,094
• Equity at exit: $36,381

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-26,943
• Equity at exit: $21,097

Cash invested: $68,320 (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 45371

• Active inventory: 250
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,174 medium
• Mortgage (P&I): −$1,280
• Tax from tax record: −$282 /mo · $3,387/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $54

Break-even live

Break-even rent $2,106

Max offer price $244,000

Occupancy floor 93%

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: $61,000
• Closing costs: $7,320
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3477 Redbud Dr Troy, OH	3.0	2.0	1250	$1,495	$1.20	2d	1	0.22mi
213 Elas Ct Unit 215 Tipp City, OH	3.0	1.5	1600	$1,650	$1.03	21d	1	0.35mi

Listing history 15 events

1. 2026-06-17
   remarks 699-char remark

   Show marketing remark (1082 chars)

   Welcome to this spacious 4-bedroom, 2-bath brick ranch in the highly desirable Tipp City area — a solid, well-built home offering comfort, convenience, and room to make it your own. The single-story layout features a bright living area with a vaulted ceiling and paddle fans, creating an open, airy feel from the moment you step inside. The efficient galley kitchen provides a practical workspace with easy access to the dining and living areas, making everyday routines simple and functional. All four bedrooms offer flexibility for family, guests, or home-office needs. A 2-car attached garage adds convenience, while the concrete patio out back is perfect for relaxing, grilling, or enjoying warm evenings outdoors. While the home could benefit from some cosmetic updates, it has been priced accordingly, giving buyers an excellent opportunity to add personal touches and build equity in a sought-after community. This is a solid, well-located property with great potential — ideal for anyone looking for a dependable home with room to update and customize over time.

2. 2026-06-17
   listing id $244,000 Pending 22 DOM

   Show marketing remark (1082 chars)

   Welcome to this spacious 4-bedroom, 2-bath brick ranch in the highly desirable Tipp City area — a solid, well-built home offering comfort, convenience, and room to make it your own. The single-story layout features a bright living area with a vaulted ceiling and paddle fans, creating an open, airy feel from the moment you step inside. The efficient galley kitchen provides a practical workspace with easy access to the dining and living areas, making everyday routines simple and functional. All four bedrooms offer flexibility for family, guests, or home-office needs. A 2-car attached garage adds convenience, while the concrete patio out back is perfect for relaxing, grilling, or enjoying warm evenings outdoors. While the home could benefit from some cosmetic updates, it has been priced accordingly, giving buyers an excellent opportunity to add personal touches and build equity in a sought-after community. This is a solid, well-located property with great potential — ideal for anyone looking for a dependable home with room to update and customize over time.

3. 2026-06-07
   pricestatusdays on market $244,000 Pending 22 DOM

   Show marketing remark (1082 chars)

   Welcome to this spacious 4-bedroom, 2-bath brick ranch in the highly desirable Tipp City area — a solid, well-built home offering comfort, convenience, and room to make it your own. The single-story layout features a bright living area with a vaulted ceiling and paddle fans, creating an open, airy feel from the moment you step inside. The efficient galley kitchen provides a practical workspace with easy access to the dining and living areas, making everyday routines simple and functional. All four bedrooms offer flexibility for family, guests, or home-office needs. A 2-car attached garage adds convenience, while the concrete patio out back is perfect for relaxing, grilling, or enjoying warm evenings outdoors. While the home could benefit from some cosmetic updates, it has been priced accordingly, giving buyers an excellent opportunity to add personal touches and build equity in a sought-after community. This is a solid, well-located property with great potential — ideal for anyone looking for a dependable home with room to update and customize over time.

4. 2026-06-03
   days on market $254,000 Active 19 DOM
5. 2026-06-02
   days on market $254,000 Active 18 DOM
6. 2026-06-01
   days on market $254,000 Active 17 DOM
7. 2026-05-31
   days on market $254,000 Active 16 DOM
8. 2026-05-31
   days on market $254,000 Active 15 DOM
9. 2026-05-15
   listed $264,900 Active 1072-char remark
10. 2026-05-14
    listed $264,900 Active 1082-char remark

    Show marketing remark (1082 chars)

    Welcome to this spacious 4-bedroom, 2-bath brick ranch in the highly desirable Tipp City area — a solid, well-built home offering comfort, convenience, and room to make it your own. The single-story layout features a bright living area with a vaulted ceiling and paddle fans, creating an open, airy feel from the moment you step inside. The efficient galley kitchen provides a practical workspace with easy access to the dining and living areas, making everyday routines simple and functional. All four bedrooms offer flexibility for family, guests, or home-office needs. A 2-car attached garage adds convenience, while the concrete patio out back is perfect for relaxing, grilling, or enjoying warm evenings outdoors. While the home could benefit from some cosmetic updates, it has been priced accordingly, giving buyers an excellent opportunity to add personal touches and build equity in a sought-after community. This is a solid, well-located property with great potential — ideal for anyone looking for a dependable home with room to update and customize over time.

11. 1998-06-23
    soldstatus $132,000
12. 1996-11-19
    soldstatus $130,000
13. 1992-10-16
    soldstatus $108,500
14. 1990-04-12
    soldstatus $96,000
15. 1988-04-06
    soldstatus $19,950

ⓘ 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: $3,387 · $282/mo
• Projected year-2 tax: $3,597 · $300/mo
• Expected delta: +$210/yr (+$17/mo · 6.2%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,085
• − Mortgage interest: −$13,668
• − Property taxes: −$3,387
• − Insurance: −$1,220
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − Depreciation: −$7,098
• Taxable loss: −$3,462
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $1,476/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: Tipp City Exempted Village
• NCES district ID: 3904561
• Math proficiency: 70% ▼ -9.00%
• Reading proficiency: 76% ▼ -5.00%
• Median HH income: $63,580
• Composite: 63.13/100
• National rank: #642
• State rank: #108 of 656 in OH

Livability — Tipp City

• Score: 80/100
• State rank: #125
• US rank: #1827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tipp City, OH
• County: Miami County · 85,667 people
• City population: 22,865
• Metro: Dayton-Kettering, OH
• Population (ZIP): 22,865
• Household income: $93,599
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 465.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 3% Romanian 3% Scotch-Irish 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.63%
• Current HPI: 205.0064
• Rent YoY: —
• Metro: Dayton-Kettering, OH
• 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

+952.6% since first listed

14 events — show timeline

• 2026-06-17 Sold (MLS) $210,000 Dayton MLS
• 2026-06-07 Pending — Dayton MLS
• 2026-06-07 Pending — WRIST
• 2026-06-04 Price Changed $244,000 WRIST
• 2026-06-04 Price Changed $244,000 Dayton MLS
• 2026-05-28 Price Changed $254,000 WRIST
• 2026-05-28 Price Changed $254,000 Dayton MLS
• 2026-05-15 Listed $264,900 WRIST
• 2026-05-14 Listed $264,900 Dayton MLS
• 1998-06-23 Sold (Public Records) $132,000 Public Records
• 1996-11-19 Sold (Public Records) $130,000 Public Records
• 1992-10-16 Sold (Public Records) $108,500 Public Records
• 1990-04-12 Sold (Public Records) $96,000 Public Records
• 1988-04-06 Sold (Public Records) $19,950 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,387 · +1.3% YoY. Source: county tax records.