128 Hedges St · Mansfield, OH 44902

$24,900

3 bd · 1.5 ba · 1,672 sqft · SingleFamily public records · 4 Days on market

Built 1910 Est $42k · 40% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Hud Case # 412-601491 - 2 Unit brick home in Mansfield, this property features 2 bedroom, one bath in unit 1 and unit 2 is efficiency. Live in one side and rent the side out. Repair Escrow: 7,500

Key facts

• Fresh paint
• Dog run
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• FRESH PAINT
• FULLY FENCED BACKYARD
• DOG RUN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Brick construction
• Exterior features: Composition roof

Interior

• Kitchen: Refrigerator; Oven; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Refrigerator, Oven, Range; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 33.6% vs local median 4.2% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($172 loan paydown + $2k appreciation (8.4% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 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 $10k; list at $25k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 4.10% ✓
• Cap rate: 33.59%
• Cash-on-cash: 97.49%
• DSCR: 5.34
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $41,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Hedges St	0.00mi	3/1.5	1,672 (0%)	1mo	$24,900	$15	99
223 Hedges St	0.18mi	3/2.0	1,687 (+1%)	1mo	$14,000	$8	87
203 Home Ave	0.20mi	3/2.0	1,748 (+4%)	2mo	$38,000	$22	79
268 Superior St	0.20mi	3/1.0	1,498 (-10%)	1mo	$38,000	$25	70
195 Hedges St	0.13mi	4/1.5 (+1)	1,483 (-11%)	1mo	$141,500	$95	69
153 Hedges St	0.05mi	4/1.5 (+1)	1,483 (-11%)	12mo	$134,990	$91	63
274 S Main St	0.42mi	4/2.0 (+1)	1,656 (-1%)	12mo	$75,000	$45	62
223 E 2nd St	0.22mi	4/1.5 (+1)	1,483 (-11%)	9mo	$134,000	$90	58
11 Blanche St	0.51mi	3/1.0	1,560 (-7%)	13mo	$42,000	$27	52
41 Glessner Ave	0.40mi	3/1.0	1,523 (-9%)	17mo	$30,000	$20	50
28 Cameron Ave	0.47mi	3/1.0	1,473 (-12%)	14mo	$31,000	$21	44
109 W 5th St	0.75mi	4/1.5 (+1)	1,798 (+8%)	14mo	$22,000	$12	35

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

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.76×
• Total profit: $47,113
• Equity at exit: $19,687

10-year hold

• IRR: —
• Equity multiple: 16.79×
• Total profit: $110,055
• Equity at exit: $39,838

Cash invested: $6,972 (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 44902

• Home prices YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$99 /mo · $1,182/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $566

Break-even live

Break-even rent $303

Max offer price $24,900

Occupancy floor 39%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Ford St Mansfield, OH	3.0	1.5	1286	$995	$0.77	43d	1	0.45mi
243 W 1st St Mansfield, OH	4.0	1.0	1470	$1,195	$0.81	43d	1	0.78mi
275 Cliffbrook Dr Mansfield, OH	2.0	1.5	1200	$925	$0.77	43d	1	1.19mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	43d	1	1.35mi

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $24,900 Active
3. 2019-04-05
   soldstatus $10,000 195-char remark

   Show marketing remark (195 chars)

   Hud Case # 412-601491 - 2 Unit brick home in Mansfield, this property features 2 bedroom, one bath in unit 1 and unit 2 is efficiency. Live in one side and rent the side out. Repair Escrow: 7,500

4. 2019-01-18
   listed $23,400 195-char remark

   Show marketing remark (195 chars)

   Hud Case # 412-601491 - 2 Unit brick home in Mansfield, this property features 2 bedroom, one bath in unit 1 and unit 2 is efficiency. Live in one side and rent the side out. Repair Escrow: 7,500

5. 2005-04-26
   soldstatus $79,000
6. 2002-07-31
   soldstatus $55,000
7. 2001-07-11
   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: $1,182 · $99/mo
• Projected year-2 tax: $1,182 · $99/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,241
• − Mortgage interest: −$1,395
• − Property taxes: −$1,182
• − Insurance: −$124
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$724
• Taxable income: $6,857
• Est. tax owed @ 24.0%: −$1,646
• After-tax cash flow: $5,151/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 4,876
• Household income: $31,619
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 13.2

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Italian 2% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.45%
• Current HPI: 302.035
• 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

-0.4% since first listed

7 events — show timeline

• 2026-05-15 Pending — MARMLS
• 2026-05-11 Listed $24,900 MARMLS
• 2019-04-05 Sold (MLS) $10,000 MARMLS
• 2019-01-18 Listed $23,400 MARMLS
• 2005-04-26 Sold (Public Records) $79,000 Public Records
• 2002-07-31 Sold (Public Records) $55,000 Public Records
• 2001-07-11 Sold (Public Records) $25,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,182 · +0.0% YoY. Source: county tax records.