623 S Pleasant St · Montpelier, OH 43543

$89,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 78 Days on market

Built 1977 7,797 sqft lot $89/sqft · 12% below area Est $102k · 12% under

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Why this score? — see what drove the C+ 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 +23.0/30.0
• ARV discount +12.7/15.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and affordable, this 2-bedroom, 1 full bath home in Montpelier is priced to sell and offers a great blend of comfort and peace of mind. Inside, you'll find a large eat-in kitchen and a welcoming layout, while outside the fenced yard provides space to relax, play, or entertain. Major improvements include a roof with a lifetime warranty, newer gutters, windows, and siding all within the last three years, plus the central air unit, water heater, and furnace have all been updated within the last 10 years. This is a wonderful opportunity for buyers looking for value, important updates, and a home they can make their own.

Key facts

• 7,797 sq ft lot
• 2 parking spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($937 rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#703 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Montpelier Exempted Village (rural): math 53% / reading 59% proficiency, ranked #364 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Montpelier High School (math 47% / reading 67%, grade C, #275 of 781 statewide, top 37%, 325 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 60 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Williams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $90k implies a 260% gain — meaningful room to come down on a strong offer.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.04% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (median comp): $101,613
• List price: $89,900
• Delta: -11.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Empire St	0.26mi	3/2.0 (+1)	1,040 (+3%)	5mo	$180,735	$174	70
434 S Pleasant St	0.16mi	3/1.0 (+1)	1,092 (+8%)	11mo	$105,600	$97	64
314 N Jonesville St	0.59mi	3/1.0 (+1)	1,031 (+2%)	2mo	$58,000	$56	62
1208 Maplehurst Ave	0.56mi	2/1.5	1,008 (0%)	13mo	$159,900	$159	61
115 Lafayette St	0.43mi	2/1.0	960 (-5%)	14mo	$88,000	$92	60
702 E Lawrence St	0.36mi	2/1.5	1,086 (+8%)	11mo	$125,000	$115	59
915 Delaware Ave	0.38mi	3/1.5 (+1)	1,120 (+11%)	1mo	$155,000	$138	56
409 W Water St	0.59mi	3/1.0 (+1)	1,034 (+3%)	11mo	$28,000	$27	54
205 W Water St	0.56mi	2/1.0	1,056 (+5%)	14mo	$69,900	$66	54
426 E Water	0.58mi	2/1.0	1,141 (+13%)	6mo	$135,000	$118	46
1415 Meadow Ave	0.73mi	3/1.0 (+1)	1,118 (+11%)	2mo	$175,000	$157	41
412 E Madison St	0.50mi	3/1.0 (+1)	864 (-14%)	14mo	$75,000	$87	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-4,400
• Equity at exit: $13,404

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $9,231
• Equity at exit: $7,773

Cash invested: $25,172 (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 43543

• Home prices YoY: -14.4%
• Active inventory: 60
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $937 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $160

Break-even live

Break-even rent $735

Max offer price $89,900

Occupancy floor 78%

Sensitivity live

Price	-10% $211	-5% $185	+0% $160	+5% $134	+10% $109
Rent	-10% $86	-5% $123	+0% $160	+5% $197	+10% $234
Rate	-1.0pp $205	-0.5pp $183	base $160	+0.5pp $137	+1.0pp $113

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $89,900 Active 78 DOM
2. 2026-06-21
   days on market $89,900 Active 77 DOM
3. 2026-06-18
   days on market $89,900 Active 75 DOM
4. 2026-06-17
   days on market $89,900 Active 74 DOM
5. 2026-06-16
   days on market $89,900 Active 73 DOM
6. 2026-06-15
   pricedays on market $89,900 Active 72 DOM
7. 2026-06-13
   days on market $99,900 Active 70 DOM
8. 2026-06-12
   days on market $99,900 Active 69 DOM
9. 2026-06-09
   days on market $99,900 Active 66 DOM
10. 2026-06-08
    days on market $99,900 Active 65 DOM
11. 2026-06-08
    days on market $99,900 Active 64 DOM
12. 2026-06-05
    days on market $99,900 Active 62 DOM
13. 2026-06-04
    days on market $99,900 Active 60 DOM
14. 2026-06-02
    days on market $99,900 Active 59 DOM
15. 2026-06-01
    days on market $99,900 Active 58 DOM
16. 2026-05-31
    days on market $99,900 Active 57 DOM
17. 2026-04-04
    listed $99,900 Active 632-char remark

    Show marketing remark (632 chars)

    Charming and affordable, this 2-bedroom, 1 full bath home in Montpelier is priced to sell and offers a great blend of comfort and peace of mind. Inside, you'll find a large eat-in kitchen and a welcoming layout, while outside the fenced yard provides space to relax, play, or entertain. Major improvements include a roof with a lifetime warranty, newer gutters, windows, and siding all within the last three years, plus the central air unit, water heater, and furnace have all been updated within the last 10 years. This is a wonderful opportunity for buyers looking for value, important updates, and a home they can make their own.

18. 2026-03-27
    historical $99,900 632-char remark

    Show marketing remark (632 chars)

    Charming and affordable, this 2-bedroom, 1 full bath home in Montpelier is priced to sell and offers a great blend of comfort and peace of mind. Inside, you'll find a large eat-in kitchen and a welcoming layout, while outside the fenced yard provides space to relax, play, or entertain. Major improvements include a roof with a lifetime warranty, newer gutters, windows, and siding all within the last three years, plus the central air unit, water heater, and furnace have all been updated within the last 10 years. This is a wonderful opportunity for buyers looking for value, important updates, and a home they can make their own.

19. 2017-01-04
    historical
20. 2016-07-14
    listed $40,900
21. 2010-05-24
    soldstatus $25,000

ⓘ 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: $859 · $72/mo
• Projected year-2 tax: $1,130 · $94/mo
• Expected delta: +$272/yr (+$23/mo · 31.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,244
• − Mortgage interest: −$5,036
• − Property taxes: −$859
• − Insurance: −$450
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$2,615
• Taxable income: $486
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $1,801/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: Montpelier Exempted Village
• NCES district ID: 3904552
• Math proficiency: 53% ▼ -15.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $42,289
• Composite: 47.0/100
• National rank: #2348
• State rank: #364 of 656 in OH

Livability — Montpelier

• Score: 65/100
• State rank: #703
• US rank: #12583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montpelier, OH
• County: Williams · 37,585 people
• Population (ZIP): 7,476
• Household income: $60,685
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 8.5

Population outlook (Williams County) Hauer SSP2

• Today (2025): 36,125 people
• By 2030: 35,264 · -2.4%
• By 2040: 33,264 · -7.9%
• By 2050: 31,072 · -14.0%
• By 2075: 26,553 · -26.5%
• By 2100: 21,318 · -41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Williams

• 2024 margin: Solid R (+48.2) · D 25.4% · R 73.7%
• 2008→2024 swing: -39.0pp toward R · 2008: -9.3pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+46.2 2016: R+43.8 2012: R+16.3 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.11%
• Current HPI: 214.9648
• 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

+299.6% since first listed

5 events — show timeline

• 2026-04-04 Listed $99,900 NORIS
• 2026-03-27 Coming Soon $99,900 NORIS
• 2017-01-04 Listing Removed — NORIS
• 2016-07-14 Listed $40,900 NORIS
• 2010-05-24 Sold (Public Records) $25,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $859 · +0.0% YoY. Source: county tax records.