213 South Ave · Franklin, OH 45005

$170,000

4 bd · 2.0 ba · 1,620 sqft · SingleFamily public records · 25 Days on market

Built 1896 6,534 sqft lot Est $243k · 30% 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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.0/10.0
• Schools +4.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover an exceptional opportunity to embrace comfortable living in the heart of Franklin. This delightful residence offers ample space and a fantastic foundation for creating your dream home. Enjoy the benefits of a well-established community, providing a welcoming atmosphere for all. This charming property boasts four generously sized bedrooms and two full bathrooms, offering plenty of room for relaxation and daily routines. The two-story layout provides a functional separation of living spaces, enhancing both privacy and communal enjoyment. With 1620 square feet of living area, there is abundant space to personalize and make your own. Situated on a comfortable 0.15-acre lot, the outdoor

Key facts

• 6,534 sq ft lot
• Garage
• Built 1896

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached one-car garage with additional storage
• Utilities: Natural gas available
• Home design: Two-story house; Cellar foundation
• Construction: Aluminum and vinyl siding
• Exterior features: Residential zoning; Lot recorded by assessor

Interior

• Kitchen: Kitchen on the main level; Breakfast nook on the main level
• Bedrooms: Four bedrooms (three on the second level, one on the main level)
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Natural gas heating
• Interior features: Total of 8 rooms; Bonus room on the second level; Family room on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/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 $169k (0.3% below list).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% in Franklin — 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 71/100 on livability (#396 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities D-.
• Franklin City (suburban): math 55% / reading 60% proficiency, ranked #332 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pennyroyal Elementary School (math 57% / reading 52%, grade C, #788 of 1,584 statewide, top 52%, 244 students, 57% FRL); Franklin Junior High School (math 56% / reading 60%, grade B, #297 of 654 statewide, top 46%, 409 students, 47% FRL); Franklin High School (math 42% / reading 69%, grade C, #296 of 781 statewide, top 39%, 701 students, 44% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $243,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 S River St	0.33mi	3/2.0 (-1)	1,678 (+4%)	9mo	$177,900	$106	66
533 Spring Ave	0.42mi	3/2.0 (-1)	1,456 (-10%)	0mo	$230,000	$158	58
219 Allen St	0.54mi	3/2.0 (-1)	1,560 (-4%)	20mo	$197,940	$127	47
213 Locust St	0.43mi	3/2.0 (-1)	1,408 (-13%)	8mo	$229,900	$163	47
10 S River St	0.37mi	3/2.0 (-1)	1,840 (+14%)	11mo	$185,000	$101	46
761 S Main St	0.44mi	3/2.0 (-1)	1,747 (+8%)	20mo	$197,000	$113	45
315 E Fourth St	0.56mi	4/3.0	1,482 (-8%)	18mo	$249,000	$168	40
339 E 4th St	0.61mi	3/2.0 (-1)	1,735 (+7%)	18mo	$259,900	$150	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 · 4.2% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-13,544
• Equity at exit: $25,348

10-year hold

• IRR: 3.4%
• Equity multiple: 1.26×
• Total profit: $12,307
• Equity at exit: $14,698

Cash invested: $47,600 (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 45005

• Rents YoY: 4.2%
• Active inventory: 147
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,694 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$189 /mo · $2,265/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $187

Break-even live

Break-even rent $1,457

Max offer price $170,000

Occupancy floor 84%

Sensitivity live

Price	-10% $283	-5% $235	+0% $187	+5% $139	+10% $91
Rent	-10% $53	-5% $120	+0% $187	+5% $254	+10% $321
Rate	-1.0pp $273	-0.5pp $230	base $187	+0.5pp $143	+1.0pp $98

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
381 Sherman Dr Franklin, OH	3.0	3.5	1344	$1,995	$1.48	26d	1	1.31mi
1 Deardoff Rd Franklin, OH	3.0	1.0	1250	$1,550	$1.24	18d	1	1.41mi

Listing history 16 events

1. 2026-06-22
   days on market $170,000 Active 25 DOM
2. 2026-06-21
   days on market $170,000 Active 24 DOM
3. 2026-06-18
   days on market $170,000 Active 21 DOM
4. 2026-06-17
   days on market $170,000 Active 20 DOM
5. 2026-06-16
   days on market $170,000 Active 19 DOM
6. 2026-06-15
   days on market $170,000 Active 18 DOM
7. 2026-06-13
   days on market $170,000 Active 16 DOM
8. 2026-06-09
   days on market $170,000 Active 12 DOM
9. 2026-06-08
   statusdays on market $170,000 Active 11 DOM
10. 2026-06-07
    days on market $170,000 ActiveUnderContract 10 DOM
11. 2026-06-03
    days on market $170,000 ActiveUnderContract 6 DOM
12. 2026-06-02
    days on market $170,000 ActiveUnderContract 5 DOM
13. 2026-06-01
    days on market $170,000 ActiveUnderContract 4 DOM
14. 2026-05-31
    days on market $170,000 ActiveUnderContract 3 DOM
15. 2026-05-28
    historical ActiveUnderContract
16. 2026-05-23
    listed $130,000 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: $2,265 · $189/mo
• Projected year-2 tax: $2,459 · $205/mo
• Expected delta: +$193/yr (+$16/mo · 8.5%)

ⓘ 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 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,329
• − Mortgage interest: −$9,523
• − Property taxes: −$2,265
• − Insurance: −$850
• − Repairs & maintenance: −$1,626
• − Management: −$1,626
• − Depreciation: −$4,945
• Taxable loss: −$507
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $2,368/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: Franklin City
• NCES district ID: 3904400
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $48,983
• Composite: 48.89/100
• National rank: #2081
• State rank: #332 of 656 in OH

Livability — Franklin

• Score: 71/100
• State rank: #396
• US rank: #6546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, OH
• County: Warren County · 196,906 people
• City population: 32,251
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 32,251
• Household income: $75,399
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 811.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Chinese 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: ▼ -192.03%
• Current HPI: 235.1612
• Rent YoY: ▲ 4.20%
• 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

• 2026-05-28 Contingent — Dayton MLS
• 2026-05-23 Listed $130,000 Dayton MLS

Property tax history

+5.4%/yr

Latest (2025): $2,265 · +8.3% YoY. Source: county tax records.