1479 Hamilton St SW · Warren, OH 44485

$65,500

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 2 Days on market

Built 1948 0.32 ac lot Est $62k · at est.

---

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
• 1% rule +8.2/10.0
• ARV discount +5.3/15.0
• Appreciation +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Charming 3 bedroom Cape Cod offering great potential for homeowners or investors alike. This home features a spacious living room with large windows providing abundant natural light, original character details, and a functional layout. The main level includes a comfortable living space, full bath, and two bedrooms. Additional bedroom located upstairs. Full basement. Situated on a generous lot with a large fenced in yard. Perfect for outdoor enjoyment or future enhancements. With a little updating, this property can truly shine-ideal as a starter home or rental investment.

Key facts

• Large windows
• Generous lot
• Full basement

Tags

• SPACIOUS LIVING ROOM
• LARGE WINDOWS
• ORIGINAL CHARACTER DETAILS
• FUNCTIONAL LAYOUT
• FULL BASEMENT
• GENEROUS LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($866 rent vs $66k).
• Cap rate 11.8% vs local median 6.0% in Warren — 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 73/100 on livability (#312 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D-, commute F, employment F.
• Warren City (urban): math 22% / reading 32% proficiency, ranked #599 of 656 in OH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 42 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 129 units permitted in Trumbull County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $453 of loan paydown is wiped out by about $746 of value loss. Plan a longer hold.
• Trumbull County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,500

Questions for the listing agent

1. Built in 1948 — 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. 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?
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: 1.32% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.58%
• DSCR: 1.87
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $62,496
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1479 Hamilton St SW	0.00mi	3/1.0	1,008 (0%)	0mo	$75,000	$74	100
1426 Union St SW	0.11mi	3/1.0	1,054 (+5%)	9mo	$65,000	$62	80
1736 Jefferson	0.16mi	3/1.0	956 (-5%)	5mo	$25,000	$26	80
1792 Front St SW	0.23mi	3/1.0	875 (-13%)	11mo	$80,000	$91	58
2329 Willow Dr SW	0.59mi	3/1.0	1,008 (0%)	20mo	$26,100	$26	56
945 Front St SW	0.41mi	3/1.0	943 (-6%)	19mo	$62,000	$66	54
1175 Mcmyler St NW	0.63mi	3/2.0	1,126 (+12%)	12mo	$58,000	$52	37

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

Projected returns pro-forma

-1.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.75×
• Total profit: $13,693
• Equity at exit: $15,374

10-year hold

• IRR: 22.4%
• Equity multiple: 3.25×
• Total profit: $41,269
• Equity at exit: $15,775

Cash invested: $18,340 (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 44485

• Home prices YoY: -0.5%
• Active inventory: 42
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $866 medium
• Mortgage (P&I): −$343
• Tax from tax record: −$14 /mo · $166/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $299

Break-even live

Break-even rent $487

Max offer price $65,500

Occupancy floor 60%

Sensitivity live

Price	-10% $336	-5% $318	+0% $299	+5% $281	+10% $262
Rent	-10% $231	-5% $265	+0% $299	+5% $334	+10% $368
Rate	-1.0pp $332	-0.5pp $316	base $299	+0.5pp $282	+1.0pp $265

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: $16,375
• Closing costs: $1,965
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
437 Nevada Ave NW Warren, OH	2.0	1.0	1016	$750	$0.74	14d	1	0.56mi
600 Commerce Ave NW Warren, OH	2.0	1.0	900	$900	$1.00	14d	3	1.17mi
1388 Beechcrest St NW Warren, OH	3.0	2.0	1297	$1,195	$0.92	14d	1	1.42mi

Listing history 2 events

1. 2026-04-25
   status Pending
2. 2026-04-22
   listed $65,500 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: $166 · $14/mo
• Projected year-2 tax: $594 · $49/mo
• Expected delta: +$428/yr (+$36/mo · 257.4%)

ⓘ 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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,389
• − Mortgage interest: −$3,669
• − Property taxes: −$166
• − Insurance: −$328
• − Repairs & maintenance: −$831
• − Management: −$831
• − Depreciation: −$1,905
• Taxable income: $2,659
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $2,954/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: Warren City
• NCES district ID: 3904499
• Math proficiency: 22% ▼ -16.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $28,222
• Composite: 21.6/100
• National rank: #8299
• State rank: #599 of 656 in OH

Livability — Warren

• Score: 73/100
• State rank: #312
• US rank: #5068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, OH
• County: Trumbull · 193,293 people
• City population: 25,805
• Metro: Youngstown-Warren, OH
• Population (ZIP): 15,194
• Household income: $33,720
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 14.2

Population outlook (Trumbull County) Hauer SSP2

• Today (2025): 191,696 people
• By 2030: 184,015 · -4.0%
• By 2040: 166,810 · -13.0%
• By 2050: 149,857 · -21.8%
• By 2075: 115,769 · -39.6%
• By 2100: 83,617 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 54% Black 38% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 1% Slovak 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Trumbull

• 2024 margin: R (+16.8) · D 41.2% · R 58.0%
• 2008→2024 swing: -39.2pp toward R · 2008: 22.4pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+10.6 2016: R+6.4 2012: D+22.2 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.14%
• Current HPI: 212.5324
• 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

2 events — show timeline

• 2026-04-25 Pending — MLSNOW
• 2026-04-22 Listed $65,500 MLSNOW

Property tax history

-5.4%/yr

Latest (2025): $166 · +1.9% YoY. Source: county tax records.