363 Delaware Dr · South Lebanon, OH 45039

$415,000

3 bd · 2.5 ba · 1,814 sqft · SingleFamily public records · 40 Days on market

Built 2003 Est $356k · 17% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Schools +6.1/10.0
• Cash flow +6.0/30.0
• Rent growth +4.4/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.4/10.0
• ARV discount +0.0/15.0

Listing remarks

Stunning 3-Bedroom Home with Private Creekside Retreat Discover the perfect blend of comfort and tranquility in this beautifully maintained single-family home. Built in 2003 and situated in a vibrant, family-friendly neighborhood, this property offers a peaceful escape while keeping you connected to a thriving community. Interior Highlights

Key facts

• Built 2003
• Listed 40 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $415k.

Deal economics

• At list price, monthly cash flow is $-792 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (33.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (41.5% below list).
• Recommended offer: $243k (41.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#279 in OH, #4,589 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Little Miami Local (rural): math 67% / reading 70% proficiency, ranked #140 of 656 in OH (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Little Miami Primary School (math 76% / reading 65%, grade A-, #376 of 1,584 statewide, top 24%, 855 students, 18% FRL); Little Miami Middle School (math 67% / reading 72%, grade A, #143 of 654 statewide, top 23%, 1,279 students, 16% FRL); Little Miami High School (math 52% / reading 81%, grade B, #150 of 781 statewide, top 20%, 1,445 students, 14% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising fast (+7.4%/yr); 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).

Forward outlook

• In year one you build about $44k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$71k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,806 (41.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.59% ✗
• Cap rate: 4.00%
• Cash-on-cash: -8.18%
• DSCR: 0.64
• GRM: 14.2

CMA / ARV

• ARV (on-the-fly): $355,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Bannock Dr	0.28mi	3/2.5	1,790 (-1%)	9mo	$375,000	$209	77
6636 Honeysuckle Ln	0.61mi	3/2.5	1,899 (+5%)	3mo	$370,000	$195	61
6711 Bayberry Ct	0.56mi	4/2.5 (+1)	1,826 (+1%)	10mo	$412,000	$226	59
6788 Trillium Ct	0.59mi	4/2.5 (+1)	1,864 (+3%)	8mo	$405,000	$217	56
259 Dakota Run	0.54mi	3/2.5	1,912 (+5%)	12mo	$365,000	$191	56
7037 Tradewind Ct	0.39mi	3/3.5	2,000 (+10%)	7mo	$390,000	$195	55
476 Indian Pointe Dr	0.48mi	3/2.5	1,630 (-10%)	7mo	$320,000	$196	54
588 Weeping Willow Ln	0.50mi	3/2.5	1,624 (-10%)	9mo	$340,000	$209	52
7540 Robin Dr	0.60mi	3/2.0	2,000 (+10%)	3mo	$343,500	$172	50
6752 Sandharbor Ct	0.51mi	3/3.0	1,970 (+9%)	13mo	$342,000	$174	49
946 Weeping Willow Ln	0.74mi	4/2.5 (+1)	1,757 (-3%)	8mo	$376,100	$214	48
926 Weeping Willow Ln	0.73mi	3/2.5	2,004 (+10%)	11mo	$346,000	$173	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.42% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.61×
• Total profit: $186,792
• Equity at exit: $373,865

10-year hold

• IRR: 18.8%
• Equity multiple: 6.31×
• Total profit: $616,940
• Equity at exit: $806,254

Cash invested: $116,200 (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 45039

• Home prices YoY: 7.3%
• Rents YoY: 7.4%
• Active inventory: 130
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,428 high
• Mortgage (P&I): −$2,176
• Tax from tax record: −$361 /mo · $4,332/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $-792

Break-even live

Break-even rent $3,431

Max offer price $275,081

Occupancy floor —

Sensitivity live

Price	-10% $-557	-5% $-675	+0% $-792	+5% $-910	+10% $-1,027
Rent	-10% $-984	-5% $-888	+0% $-792	+5% $-696	+10% $-600
Rate	-1.0pp $-583	-0.5pp $-687	base $-792	+0.5pp $-900	+1.0pp $-1,009

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7619 Hyatts Ln Maineville, OH	3.0	2.5	1774	$2,375	$1.34	0d	1	0.84mi
311 Heftner Cir Maineville, OH	3.0	2.5	1442	$2,200	$1.53	14d	1	0.97mi
330 Heftner Cir Maineville, OH	3.0	2.5	1588	$1,971	$1.24	0d	1	0.98mi
7831 Healy Dr Maineville, OH	3.0	2.5	2084	$2,671	$1.28	45d	1	1.08mi
8218 Melrose Ln Maineville, OH	3.0	2.5	1458	$2,066	$1.42	18d	1	1.21mi

Listing history 17 events

1. 2026-06-21
   days on market $415,000 Active 40 DOM
2. 2026-06-18
   days on market $415,000 Active 37 DOM
3. 2026-06-17
   days on market $415,000 Active 36 DOM
4. 2026-06-16
   days on market $415,000 Active 35 DOM
5. 2026-06-15
   days on market $415,000 Active 34 DOM
6. 2026-06-13
   days on market $415,000 Active 32 DOM
7. 2026-06-09
   days on market $415,000 Active 28 DOM
8. 2026-06-08
   days on market $415,000 Active 27 DOM
9. 2026-06-07
   days on market $415,000 Active 26 DOM
10. 2026-06-03
    days on market $415,000 Active 22 DOM
11. 2026-06-02
    days on market $415,000 Active 21 DOM
12. 2026-06-01
    days on market $415,000 Active 20 DOM
13. 2026-05-31
    days on market $415,000 Active 19 DOM
14. 2026-05-13
    price $415,000 342-char remark
15. 2026-05-12
    listed $450,000 Active 342-char remark
16. 2026-05-08
    price $415,000 1421-char remark
17. 2026-04-28
    listed $450,000 Active 1421-char remark

ⓘ 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: $4,332 · $361/mo
• Projected year-2 tax: $5,403 · $450/mo
• Expected delta: +$1,071/yr (+$89/mo · 24.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,137
• − Mortgage interest: −$23,246
• − Property taxes: −$4,332
• − Insurance: −$2,075
• − Repairs & maintenance: −$2,331
• − Management: −$2,331
• − Depreciation: −$12,073
• Taxable loss: −$17,251
• Est. tax savings @ 24.0%: +$4,140
• After-tax cash flow: $-5,364/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: Little Miami Local
• NCES district ID: 3905044
• Math proficiency: 67% ▼ -11.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $74,949
• Composite: 60.5/100
• National rank: #844
• State rank: #140 of 656 in OH

Livability — South Lebanon

• Score: 74/100
• State rank: #279
• US rank: #4589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Warren County · 196,906 people
• City population: 7,053
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 28,335
• Household income: $108,794
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 307.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 2%
• Common ancestry: Romanian 2% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 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: ▲ 38.63%
• Current HPI: 568.09
• Rent YoY: ▲ 7.42%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $415,000 FSBO.com
• 2026-05-12 Listed $450,000 FSBO.com
• 2026-05-08 Price Changed $415,000 FSBO.com

Property tax history

+3.4%/yr

Latest (2025): $4,332 · -0.4% YoY. Source: county tax records.