300 S Wayne St · Van Wert, OH 45891

$104,900

4 bd · 2.0 ba · 1,864 sqft · MultiFamily public records · 6 Days on market

8,712 sqft lot

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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 +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment property opportunity! First class duplex with attached garage. Downstairs rent is $525 and upstairs is $450. Total monthly income of $975. That is $11,700 annually! Owner pays gas, lawncare, taxes, and insurance. Tenant pays electric, water, and trash. Gross return of over 14%!! Garage is included with rent. Many possibilities with this unit. Additionally, brand new roof in 2018, new water heater upstairs in 2018, and many more updates!

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 11.5% vs local median 4.7% in Van Wert — 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 72/100 on livability (#392 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D+, amenities F, commute F.
• Van Wert City (rural): math 46% / reading 50% proficiency, ranked #476 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Van Wert County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $67k; list at $105k implies a 57% gain — meaningful room to come down on a strong offer.

Recommended offer $104,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.62%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $12,014
• Equity at exit: $15,641

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $47,795
• Equity at exit: $9,070

Cash invested: $29,372 (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 45891

• Home prices YoY: -17.0%
• Active inventory: 45
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,431 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$81 /mo · $975/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $456

Break-even live

Break-even rent $855

Max offer price $104,900

Occupancy floor 63%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $104,900 Active 6 DOM
2. 2026-06-17
   days on market $104,900 Active 5 DOM
3. 2026-06-16
   days on market $104,900 Active 4 DOM
4. 2026-06-15
   days on market $104,900 Active 3 DOM
5. 2026-06-12
   statusdays on market $104,900 Active 1 DOM
6. 2026-02-24
   listed $104,900
7. 2026-02-24
   historical
8. 2020-08-26
   soldstatus $67,000 457-char remark

   Show marketing remark (457 chars)

   Great investment property opportunity! First class duplex with attached garage. Downstairs rent is $525 and upstairs is $450. Total monthly income of $975. That is $11,700 annually! Owner pays gas, lawncare, taxes, and insurance. Tenant pays electric, water, and trash. Gross return of over 14%!! Garage is included with rent. Many possibilities with this unit. Additionally, brand new roof in 2018, new water heater upstairs in 2018, and many more updates!

9. 2020-08-26
   soldstatus $67,000

   Show marketing remark (457 chars)

   Great investment property opportunity! First class duplex with attached garage. Downstairs rent is $525 and upstairs is $450. Total monthly income of $975. That is $11,700 annually! Owner pays gas, lawncare, taxes, and insurance. Tenant pays electric, water, and trash. Gross return of over 14%!! Garage is included with rent. Many possibilities with this unit. Additionally, brand new roof in 2018, new water heater upstairs in 2018, and many more updates!

10. 2019-08-07
    listed $78,500 457-char remark

    Show marketing remark (457 chars)

    Great investment property opportunity! First class duplex with attached garage. Downstairs rent is $525 and upstairs is $450. Total monthly income of $975. That is $11,700 annually! Owner pays gas, lawncare, taxes, and insurance. Tenant pays electric, water, and trash. Gross return of over 14%!! Garage is included with rent. Many possibilities with this unit. Additionally, brand new roof in 2018, new water heater upstairs in 2018, and many more updates!

11. 2013-11-13
    soldstatus $50,000

ⓘ 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: $975 · $81/mo
• Projected year-2 tax: $1,306 · $109/mo
• Expected delta: +$331/yr (+$28/mo · 33.9%)

ⓘ 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: $17,176
• − Mortgage interest: −$5,876
• − Property taxes: −$975
• − Insurance: −$524
• − Repairs & maintenance: −$1,374
• − Management: −$1,374
• − Depreciation: −$3,052
• Taxable income: $4,000
• Est. tax owed @ 24.0%: −$960
• After-tax cash flow: $4,508/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: Van Wert City
• NCES district ID: 3910023
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 50% ▼ -13.00%
• Median HH income: $41,846
• Composite: 40.34/100
• National rank: #3745
• State rank: #476 of 656 in OH

Livability — Van Wert

• Score: 72/100
• State rank: #392
• US rank: #6388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Wert, OH
• County: Van Wert · 34,605 people
• City population: 15,522
• Population (ZIP): 15,522
• Household income: $62,944
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 9.1

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -49.58%
• Current HPI: 242.1743
• 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

+109.8% since first listed

6 events — show timeline

• 2026-02-24 Delisted — WCARE
• 2026-02-24 Listed $104,900 WCARE
• 2020-08-26 Sold (Public Records) $67,000 Public Records
• 2020-08-26 Sold (MLS) $67,000 WCARE
• 2019-08-07 Listed $78,500 WCARE
• 2013-11-13 Sold (Public Records) $50,000 Public Records

Property tax history

-4.4%/yr

Latest (2025): $975 · +1.6% YoY. Source: county tax records.