619 Light St · Felicity, OH 45120

$285,000

6 bd · 3.0 ba · 2,496 sqft · MultiFamily public records · 4 Days on market

Built 1983 0.27 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

What an investment! 3 unit, brick ranch triplex on a corner lot. Each unit is approximately a little over 800 square feet. Great current tenants. One unit is vacant. Easy maintenance as the building is brick on a slab, with washer hookup in each unit. Great opportunity to live in one unit and have an automatic investment in the other units! Start investing today or add to your existing portfolio! Value-add opportunity. Two units occupied, with one vacant 2-bedroom unit ready for lease-up. Investors can increase cash flow through occupancy stabilization and future rent growth.

Key facts

• Brick ranch triplex
• Washer hookup
• Corner lot

Tags

• BRICK RANCH TRIPLEX
• CORNER LOT
• WASHER HOOKUP
• VALUE-ADD OPPORTUNITY

Property features AI

Finance

• Other: Property marketed with one building; Unzoned per listing
• Financial info: Total of 3 units; Advertised 2-bedroom rent listed at $1,325 (may refer to market or an example); Unit rents reported: Unit 2 at $675, Unit 3 at $650
• HOA & community: No HOA information provided

Exterior

• Parking: Gravel parking with 3 open spaces
• Security: No security features listed
• Utilities: Public water; Public sewer; Gas and electric available (separate meters for units); Water paid by owner; heat paid by tenants
• Home design: Triplex; Single-story; Slab foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Patio; Wood fence; Corner lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Three 2-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Each unit has five rooms; Longtime tenants; no written leases reported
• Laundry & utility: No on-site laundry details provided

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).

Location & tenants

• Location reads 60/100 on livability (#989 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime D, amenities F, commute F.
• Felicity-Franklin Local (rural): math 53% / reading 55% proficiency, ranked #388 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• At $3,775/mo this rent would consume 83% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $285,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.32%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 37.1%
• Equity multiple: 3.86×
• Total profit: $228,543
• Equity at exit: $256,751

10-year hold

• IRR: 32.0%
• Equity multiple: 8.71×
• Total profit: $615,281
• Equity at exit: $553,692

Cash invested: $79,800 (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 45120

• Home prices YoY: 11.3%
• Active inventory: 13
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,775 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$217 /mo · $2,607/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$793
• Net cashflow: $1,152

Break-even live

Break-even rent $2,317

Max offer price $285,000

Occupancy floor 64%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,774
Total (3 units)			$3,775

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $285,000 Active 4 DOM
2. 2026-06-17
   days on market $285,000 Active 3 DOM
3. 2026-06-16
   days on market $285,000 Active 2 DOM
4. 2026-06-15
   remarks 582-char remark
5. 2026-06-15
   listed $285,000 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: $2,607 · $217/mo
• Projected year-2 tax: $3,526 · $294/mo
• Expected delta: +$920/yr (+$77/mo · 35.3%)

ⓘ 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 ≥102°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,300
• − Mortgage interest: −$15,964
• − Property taxes: −$2,607
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,624
• − Management: −$3,624
• − Depreciation: −$8,291
• Taxable income: $9,765
• Est. tax owed @ 24.0%: −$2,344
• After-tax cash flow: $11,477/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: Felicity-Franklin Local
• NCES district ID: 3904633
• Math proficiency: 53% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $47,159
• Composite: 45.83/100
• National rank: #2556
• State rank: #388 of 656 in OH

Livability — Felicity

• Score: 60/100
• State rank: #989
• US rank: #19414

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Felicity, OH
• County: Clermont · 218,829 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 2,412
• Household income: $54,509
• Rent vs Own: 30.8% rent · 69.2% own

Population outlook (Clermont County) Hauer SSP2

• Today (2025): 210,162 people
• By 2030: 212,463 · +1.1%
• By 2040: 212,504 · +1.1%
• By 2050: 205,957 · -2.0%
• By 2075: 182,728 · -13.1%
• By 2100: 143,986 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Clermont

• 2024 margin: Solid R (+35.8) · D 31.7% · R 67.4%
• 2008→2024 swing: -3.4pp toward R · 2008: -32.4pp · 2024: -35.8pp
• All cycles: 2024: R+35.8 2020: R+36.6 2016: R+41.3 2012: R+35.5 2008: R+32.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 43.68%
• Current HPI: 428.9825
• 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

1 event — show timeline

• 2026-06-11 Listed $285,000 Cincy MLS

Property tax history

+3.1%/yr

Latest (2025): $2,607 · -0.1% YoY. Source: county tax records.