403 Riley St · Willshire, OH 45898

$107,000

2 bd · 1.0 ba · 916 sqft · SingleFamily public records · 128 Days on market

Built 1900 Est $110k · at est.

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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 +15.7/30.0
• ARV discount +8.7/15.0
• Appreciation +8.1/10.0
• Schools +6.4/10.0
• DSCR +4.8/10.0
• 1% rule +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very nice 2 bedroom, 1 full bath home. A 3rd bedroom is possible. Detached 2 car garage. Fenced-in backyard with (3) storage sheds. Big, screened-in porch makes for a great place to spend evenings free of bugs, enjoying a good book. Owners purchased a new refrigerator, still under warranty. Stove, Washer & Dryer are newer and stay with the property. (2) Window Air Cond's keep the house plenty cool. Nat. Gas forced air furnace for heating. Great property for the money. Lots cheaper than renting. Come take a look!

Key facts

• Fenced-in back yard
• 2 garage spots
• Built 1900

Tags

• FENCED-IN BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $46 ($556/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (15.6% below list).
• Recommended offer: $90k (15.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#1,110 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime D-.
• Parkway Local (rural): math 76% / reading 76% proficiency, ranked #96 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($740 loan paydown + $7k appreciation (6.2% local appreciation)).
• Van Wert County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $17k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $107k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,292 (15.6% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $109,920
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 South St	0.36mi	3/1.0 (+1)	1,000 (+9%)	8mo	$75,000	$75	56
622 Rockford Rd	0.61mi	3/1.0 (+1)	1,040 (+14%)	13mo	$125,000	$120	33

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

Projected returns pro-forma

6.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 2.17×
• Total profit: $34,961
• Equity at exit: $68,487

10-year hold

• IRR: 17.0%
• Equity multiple: 4.34×
• Total profit: $100,171
• Equity at exit: $125,267

Cash invested: $29,960 (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 45898

• Home prices YoY: 2.3%
• Active inventory: 4
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $903 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $46

Break-even live

Break-even rent $844

Max offer price $107,000

Occupancy floor 90%

Sensitivity live

Price	-10% $107	-5% $77	+0% $46	+5% $16	+10% $-14
Rent	-10% $-25	-5% $11	+0% $46	+5% $82	+10% $118
Rate	-1.0pp $100	-0.5pp $74	base $46	+0.5pp $19	+1.0pp $-10

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-17
   status Pending
2. 2026-04-14
   status Active
3. 2026-02-12
   status Pending
4. 2026-01-20
   price $107,000
5. 2025-11-18
   status Active
6. 2025-11-18
   price $112,000
7. 2025-10-23
   historical Contingency - Finance and Inspections
8. 2025-10-08
   listed $123,900 Active
9. 2020-09-02
   soldstatus $62,900 532-char remark

   Show marketing remark (532 chars)

   Very nice 2 bedroom, 1 full bath home. A 3rd bedroom is possible. Detached 2 car garage. Fenced-in backyard with (3) storage sheds. Big, screened-in porch makes for a great place to spend evenings free of bugs, enjoying a good book. Owners purchased a new refrigerator, still under warranty. Stove, Washer & Dryer are newer and stay with the property. (2) Window Air Cond's keep the house plenty cool. Nat. Gas forced air furnace for heating. Great property for the money. Lots cheaper than renting. Come take a look!

10. 2020-09-02
    soldstatus $62,900

    Show marketing remark (532 chars)

    Very nice 2 bedroom, 1 full bath home. A 3rd bedroom is possible. Detached 2 car garage. Fenced-in backyard with (3) storage sheds. Big, screened-in porch makes for a great place to spend evenings free of bugs, enjoying a good book. Owners purchased a new refrigerator, still under warranty. Stove, Washer & Dryer are newer and stay with the property. (2) Window Air Cond's keep the house plenty cool. Nat. Gas forced air furnace for heating. Great property for the money. Lots cheaper than renting. Come take a look!

11. 2020-07-24
    listed $62,900 532-char remark

    Show marketing remark (532 chars)

    Very nice 2 bedroom, 1 full bath home. A 3rd bedroom is possible. Detached 2 car garage. Fenced-in backyard with (3) storage sheds. Big, screened-in porch makes for a great place to spend evenings free of bugs, enjoying a good book. Owners purchased a new refrigerator, still under warranty. Stove, Washer & Dryer are newer and stay with the property. (2) Window Air Cond's keep the house plenty cool. Nat. Gas forced air furnace for heating. Great property for the money. Lots cheaper than renting. Come take a look!

12. 2014-11-17
    soldstatus $22,500 419-char remark

    Show marketing remark (419 chars)

    Nice 2-3 bedroom home with fenced-in backyard. 3 storage sheds. House has a enclosed side porch, great for spending summer evenings reading your favorite book, reading the paper, or just visiting with friends. House needs no work and is ready to move into. Current owners have lived here for over 50 years and have kept this home very well maintained. Looking for a very inexpensive way of living, check this place out!

13. 2014-06-24
    listed $25,000 419-char remark

    Show marketing remark (419 chars)

    Nice 2-3 bedroom home with fenced-in backyard. 3 storage sheds. House has a enclosed side porch, great for spending summer evenings reading your favorite book, reading the paper, or just visiting with friends. House needs no work and is ready to move into. Current owners have lived here for over 50 years and have kept this home very well maintained. Looking for a very inexpensive way of living, check this place out!

ⓘ 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: $735 · $61/mo
• Projected year-2 tax: $1,202 · $100/mo
• Expected delta: +$467/yr (+$39/mo · 63.5%)

ⓘ 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 ≥100°F today · 18 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: $10,835
• − Mortgage interest: −$5,994
• − Property taxes: −$735
• − Insurance: −$535
• − Repairs & maintenance: −$867
• − Management: −$867
• − Depreciation: −$3,113
• Taxable loss: −$1,275
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $862/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: Parkway Local
• NCES district ID: 3904857
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $47,796
• Composite: 64.14/100
• National rank: #569
• State rank: #96 of 656 in OH

Livability — Willshire

• Score: 56/100
• State rank: #1110
• US rank: #22631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willshire, OH
• County: Van Wert · 34,605 people
• Population (ZIP): 908
• Household income: $54,063
• Rent vs Own: 18.0% rent · 82.0% own

Population outlook (Van Wert County) Hauer SSP2

• Today (2025): 28,235 people
• By 2030: 27,793 · -1.6%
• By 2040: 26,650 · -5.6%
• By 2050: 25,251 · -10.6%
• By 2075: 22,247 · -21.2%
• By 2100: 18,559 · -34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 1% Iranian 1%
• Foreign-born: 1%

Political lean MEDSL · Van Wert

• 2024 margin: Solid R (+58.5) · D 20.4% · R 78.9%
• 2008→2024 swing: -31.3pp toward R · 2008: -27.2pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+57.4 2016: R+56.4 2012: R+40.5 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.18%
• Current HPI: 272.2168
• 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

+328.0% since first listed

13 events — show timeline

• 2026-04-17 Pending — WRIST
• 2026-04-14 Relisted — WRIST
• 2026-02-12 Pending — WRIST
• 2026-01-20 Price Changed $107,000 WRIST
• 2025-11-18 Relisted — WRIST
• 2025-11-18 Price Changed $112,000 WRIST
• 2025-10-23 Contingent — WRIST
• 2025-10-08 Listed $123,900 WRIST
• 2020-09-02 Sold (Public Records) $62,900 Public Records
• 2020-09-02 Sold (MLS) $62,900 WRIST
• 2020-07-24 Listed $62,900 WRIST
• 2014-11-17 Sold (MLS) $22,500 WRIST
• 2014-06-24 Listed $25,000 WRIST

Property tax history

-1.0%/yr

Latest (2025): $735 · +0.5% YoY. Source: county tax records.