3683 St Rt 132

Amelia, OH 45103

$134,900B

2 bd · 1.0 ba · 904 sqft · Built 1875 · SingleFamily · Active · 244 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,594/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $384/mo
• Annual: $4,613/yr
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• 1% rule: 1.18%
• Cash to close: $37,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 244 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#539 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• West Clermont Local (suburban): math 51% / reading 57% proficiency, ranked #373 of 656 in OH (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Holly Hill Elementary School (math 52% / reading 52%, grade C-, #851 of 1,584 statewide, top 56%, 421 students, 44% FRL); West Clermont Middle School (math 45% / reading 51%, grade C-, #441 of 654 statewide, top 68%, 1,789 students, 41% FRL); West Clermont High School (math 41% / reading 65%, grade C-, #338 of 781 statewide, top 43%, 2,211 students, 36% FRL).
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.1%/yr); 117 active listings in the ZIP; solid renter incomes; 996 units permitted in Clermont County in 2024 (210 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $135k implies a 93% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.7% vs local median 2.9% in Amelia — 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

• It's been on market 244 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.