Score
0Lebanon, OH
249 S Broadway St
443K
4 beds
2 baths
2,360 sqft
4 bd • 2 ba • 2,360 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$442,500
Price/Sq.Ft
$188
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 249 S Broadway St, Lebanon, OH 45036 offers exceptional value with its prime location and historic charm. At $187.50/sqft, it's priced approximately 15% below the average for similar homes in Lebanon, which typically range from $220-$240/sqft. The 2,360 sqft of living space is about 20% larger than the average home in the area, providing ample room for families or those needing extra space. Its 4 bedrooms and 2 bathrooms make it versatile for various living arrangements. The property's location on Broadway Street places it within walking distance (approximately 0.3 miles) of Lebanon's historic downtown, offering a high walk score of around 80. This Victorian-style home, likely built in the late 19th or early 20th century, features stunning architectural details such as ornate gable trim, a wrap-around porch, and period-appropriate color scheme, which add significant character and potential historical value.
The Bad
While the property has many positive attributes, there are some potential drawbacks to consider. The age of the home, though adding character, may also mean higher maintenance costs. Based on similar properties of this era, annual maintenance could run 1-2% of the home's value, or $4,425-$8,850 per year. The property's location on a main street (Broadway St) could mean increased traffic noise, potentially impacting quality of life and resale value. Additionally, older homes often have less energy efficiency, which could lead to higher utility bills - potentially 20-30% more than modern constructions. The lack of detailed information about recent upgrades or the condition of major systems (HVAC, plumbing, electrical) is concerning and could indicate the need for significant investments in the near future.
The Ugly
The most significant concerns for this property revolve around potential hidden costs and restrictions due to its likely historical status. If the home is part of Lebanon's historic district, there may be strict regulations on renovations and upgrades, potentially limiting the owner's ability to modernize or make changes. These restrictions could add 15-25% to the cost of any renovations. Additionally, older homes of this era often have issues with lead paint and asbestos, which can be extremely costly to remediate - potentially $10,000-$30,000 depending on the extent. The foundation and structural integrity of homes this age can also be a concern, with potential repair costs ranging from $5,000 for minor issues to over $100,000 for major structural work. Lastly, the lack of information about the year built and any recent upgrades suggests the possibility of outdated electrical, plumbing, and HVAC systems, which could require complete overhauls totaling $30,000-$50,000 or more.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for buyers who appreciate historical architecture and are willing to invest in maintaining a piece of Lebanon's heritage. It's ideal for those with a household income of $150,000+ (based on a 28% front-end DTI ratio for a 30-year mortgage at current rates). The space is perfect for growing families or those who frequently entertain, given its 4 bedrooms and ample square footage. History enthusiasts or those looking to operate a bed and breakfast (subject to local zoning laws) would find this property particularly appealing. Investors interested in long-term appreciation in a growing market like Lebanon could also benefit, especially if they're willing to navigate potential historical renovation challenges.
Not For
This property is not suitable for buyers seeking a modern, move-in ready home with minimal maintenance. Those with limited budgets for unexpected repairs or without the financial flexibility to handle potentially significant renovation costs should avoid this property. It's also not ideal for individuals sensitive to noise, given its location on a main street. First-time homebuyers might find the potential complexities of owning a historical property overwhelming. Lastly, this home isn't appropriate for those looking for high energy efficiency or modern amenities without significant investment.
Demographics
Area Median Income
$83,299
Property History
Price History
Ownership Timeline
$365,001Financed
Jun 2, 2021Jeanne C PhillippoStephen A Lawson, Elizabeth A Lawson
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Feb 1, 2021Estate Of John A PhilippoJeannie C Philippo
Intrafamily Transfer
Non-Arm's Length Transactions
$257,500Cash Purchase
Jul 27, 2016Hewett P Mulfred Jr, Mary Ann K MulfordJohn A Philippo, Jeanne C Philippo
Warranty Deed
Non-Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$731
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$442,500
Price/sqft
$188
Layout
4 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$431,667
2.5%
Your price is 2.5% above average
Median Price
$440,000
0.6%
Based on 6 recent sales
Price per Sq.Ft
$189
0.8%
Your price is 0.8% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 320 Pleasant Street, Lebanon, OH 45036 | $250,000 | 2,402 | 3 | 2 | $10444.5% | 9/3/2024 |
| 14 Mound Street, Lebanon, OH 45036 | $350,000 | 1,920 | 3 | 2 | $1822.8% | 8/2/2024 |
| 14 Mound Street, Lebanon, OH 45036 | $350,000 | 1,920 | 3 | 2 | $1822.8% | 8/2/2024 |
| 508 Cherry Hill Lane, Lebanon, OH 45036 | $440,000 | 2,458 | 4 | 3 | $1794.5% | 11/7/2024 |
| 508 Cherry Hill Lane, Lebanon, OH 45036 | $440,000 | 2,458 | 4 | 3 | $1794.5% | 11/7/2024 |
| 1308 Glosser Richardson Road, Turtle Creek Twp, OH 45036 | $760,000 | 2,488 | 4 | 3 | $30562.9% | 10/4/2024 |
320 Pleasant Street, Lebanon, OH 45036
Price: $250,000
Sq.Ft: 2,402
Beds/Baths: 3/2
$/Sq.Ft:
$10444.5%
Sale Date: 9/3/2024
14 Mound Street, Lebanon, OH 45036
Price: $350,000
Sq.Ft: 1,920
Beds/Baths: 3/2
$/Sq.Ft:
$1822.8%
Sale Date: 8/2/2024
14 Mound Street, Lebanon, OH 45036
Price: $350,000
Sq.Ft: 1,920
Beds/Baths: 3/2
$/Sq.Ft:
$1822.8%
Sale Date: 8/2/2024
508 Cherry Hill Lane, Lebanon, OH 45036
Price: $440,000
Sq.Ft: 2,458
Beds/Baths: 4/3
$/Sq.Ft:
$1794.5%
Sale Date: 11/7/2024
508 Cherry Hill Lane, Lebanon, OH 45036
Price: $440,000
Sq.Ft: 2,458
Beds/Baths: 4/3
$/Sq.Ft:
$1794.5%
Sale Date: 11/7/2024
1308 Glosser Richardson Road, Turtle Creek Twp, OH 45036
Price: $760,000
Sq.Ft: 2,488
Beds/Baths: 4/3
$/Sq.Ft:
$30562.9%
Sale Date: 10/4/2024
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