631 Girard Ave · Marion, OH 43302

$40,000

4 bd · 1.5 ba · 1,608 sqft · SingleFamily public records · 29 Days on market

Built 1912 6,098 sqft lot $25/sqft · 71% below area ↓ 13% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Asset manager states that the home is sold ''AS IS'' . Owner has no disclosures and no knowledge of any violations. Buyer is responsible for all DUE DILIGENCE. Buyer is responsible for any and all inspections deemed necessary by municipality. Seller will make no repairs to the property.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1912

Property features AI

Finance

• Other: Auction listing condition

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Built in 1912; No common walls
• Construction: Block foundation; Built 1912
• Exterior features: Block foundation

Interior

• Bedrooms: One main-level bedroom
• Flooring: Wood flooring; Other flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Full basement; Decorative fireplace (one)

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.8% vs local median 6.9% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 210 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 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 $25k; list at $40k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 36.84%
• Cash-on-cash: 109.10%
• DSCR: 5.85
• GRM: 2.0

CMA / ARV

• ARV (median comp): $135,796
• List price: $40,000
• Delta: -70.54%
• 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
538 Cherry St	0.14mi	4/2.0	1,596 (-1%)	0mo	$150,000	$94	90
340 Marion Ave	0.14mi	3/1.0 (-1)	1,609 (+0%)	2mo	$178,350	$111	84
576 Girard Ave	0.08mi	4/2.5	1,733 (+8%)	2mo	$227,500	$131	78
328 Thew Ave	0.31mi	4/2.0	1,530 (-5%)	1mo	$226,000	$148	75
212 Wildwood Ct	0.14mi	4/1.0	1,768 (+10%)	2mo	$149,900	$85	74
618 Irey Ave	0.21mi	3/1.0 (-1)	1,426 (-11%)	0mo	$125,000	$88	64
283 E Walnut St	0.51mi	4/2.0	1,716 (+7%)	2mo	$245,000	$143	61
201 Orchard St	0.61mi	4/2.0	1,700 (+6%)	1mo	$224,900	$132	59
657 Cleveland Ave	0.26mi	3/1.5 (-1)	1,384 (-14%)	2mo	$225,000	$163	58
620 Herman St	0.58mi	4/1.0	1,484 (-8%)	2mo	$25,000	$17	57
226 Malo Dr	0.37mi	3/1.0 (-1)	1,432 (-11%)	1mo	$130,000	$91	56
322 Belmont St	0.64mi	3/1.0 (-1)	1,756 (+9%)	2mo	$194,000	$110	46

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: —
• Equity multiple: 6.21×
• Total profit: $58,395
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 13.01×
• Total profit: $134,456
• Equity at exit: $3,458

Cash invested: $11,200 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 210
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $1,018

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 33%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Crescent Heights Rd Marion, OH	1.0–3.0	1.0	827	$1,200	$1.45	43d	1	1.14mi

Listing history 4 events

1. 2026-04-23
   listed $40,000 Active 361-char remark
2. 2020-06-09
   soldstatus $25,000 287-char remark

   Show marketing remark (287 chars)

   Asset manager states that the home is sold ''AS IS'' . Owner has no disclosures and no knowledge of any violations. Buyer is responsible for all DUE DILIGENCE. Buyer is responsible for any and all inspections deemed necessary by municipality. Seller will make no repairs to the property.

3. 2019-06-24
   listed $29,700 287-char remark

   Show marketing remark (287 chars)

   Asset manager states that the home is sold ''AS IS'' . Owner has no disclosures and no knowledge of any violations. Buyer is responsible for all DUE DILIGENCE. Buyer is responsible for any and all inspections deemed necessary by municipality. Seller will make no repairs to the property.

4. 2006-06-13
   soldstatus $46,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,666
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$1,164
• Taxable income: $12,315
• Est. tax owed @ 24.0%: −$2,956
• After-tax cash flow: $9,263/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, OH
• 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

-13.0% since first listed

5 events — show timeline

• 2026-05-22 Pending — CBRMLS
• 2026-04-23 Listed $40,000 CBRMLS
• 2020-06-09 Sold (MLS) $25,000 CBRMLS
• 2019-06-24 Listed $29,700 CBRMLS
• 2006-06-13 Sold (Public Records) $46,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $2,158 · +0.0% YoY. Source: county tax records.