11500 Louisville St · Louisville, OH 44641

$299,900

3 bd · 2.0 ba · 2,220 sqft · MultiFamily public records · 13 Days on market

Built 1909 1.29 ac lot

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• 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

Welcome to country living at its finest! Situated on over an acre just two miles from downtown Louisville, this beautifully updated farmhouse offers the perfect blend of rural charm and modern convenience. Featuring 5 spacious bedrooms and 2.5 bathrooms, this home provides plenty of room for guests and entertaining. Enjoy mornings in the kitchen overlooking scenic country views,  and peaceful evenings with the sun setting over farm land from the large front porch. Outside, you'll find a rare 5-car attached garage with two 16 foot doors, an additional outbuilding with potential for animals, hobbies, or extra storage, private wrap around driveway, two wooded areas for exploring

Key facts

• Large front porch
• Scenic country views
• Updated farmhouse

Tags

• UPDATED FARMHOUSE
• SCENIC COUNTRY VIEWS
• LARGE FRONT PORCH
• 5 CAR ATTACHED GARAGE
• OUTBUILDING FOR ANIMALS
• PRIVATE WRAP AROUND DRIVEWAY

Property features AI

Exterior

• Parking: Attached heated garage; Detached garage; Drive-through garage; Driveway parking; Garage faces front and side; Total of 5 garage spaces
• Utilities: Well water; Septic tank
• Home design: Two-story home; Updated/remodeled condition; Has a view; Block foundation
• Construction: Vinyl siding; Asphalt/fiberglass roof; Built in public-records era (year built per public records)
• Exterior features: Front porch and balcony; Private yard; Fire pit; Outdoor lighting; Private entrance; Basketball court; Garage(s) and outbuilding

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Pantry
• Bedrooms: One main-level bedroom; Multiple second-floor bedrooms; Loft on the third level
• Flooring: Hardwood in main living areas (living room, dining room, great room, family room); Simulated wood in kitchen, laundry, mud room, pantry; Carpet in several second-floor bedrooms; Wood flooring in the loft; Concrete flooring in workshop
• Bathrooms: Two full bathrooms; One half bathroom; Three bathrooms located on the main level
• Heating & cooling: Radiant heating
• Interior features: Built-in bookcases; High ceilings; Recessed lighting; Storage space; Soaking tub; Natural woodwork; Pantry; Primary bedroom located downstairs
• Laundry & utility: Main-level laundry; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 8.7% vs local median 3.4% in Louisville — 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 79/100 on livability (#142 in OH, #2,205 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Marlington Local (rural): math 58% / reading 67% proficiency, ranked #253 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.6%/yr); 88 active listings in the ZIP; solid renter incomes; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• At $3,054/mo this rent would consume 46% of the median local household income ($80k/yr) (locally 344% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $143k; list at $300k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,900

Questions for the listing agent

1. Built in 1909 — 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 A-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?
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: 1.02% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.57% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-2,122
• Equity at exit: $44,716

10-year hold

• IRR: 11.3%
• Equity multiple: 1.98×
• Total profit: $82,278
• Equity at exit: $25,930

Cash invested: $83,972 (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 44641

• Rents YoY: 5.6%
• Active inventory: 88
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $3,054 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$111 /mo · $1,328/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $604

Break-even live

Break-even rent $2,289

Max offer price $299,900

Occupancy floor 75%

Sensitivity live

Price	-10% $774	-5% $689	+0% $604	+5% $519	+10% $435
Rent	-10% $363	-5% $484	+0% $604	+5% $725	+10% $846
Rate	-1.0pp $755	-0.5pp $681	base $604	+0.5pp $527	+1.0pp $448

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,054
Total (2 units)			$3,054

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $299,900 Active 13 DOM
2. 2026-06-17
   days on market $299,900 Active 12 DOM
3. 2026-06-16
   days on market $299,900 Active 11 DOM
4. 2026-06-15
   days on market $299,900 Active 10 DOM
5. 2026-06-14
   days on market $299,900 Active 8 DOM
6. 2026-06-13
   days on market $299,900 Active 7 DOM
7. 2026-06-10
   days on market $299,900 Active 5 DOM
8. 2026-06-09
   days on market $299,900 Active 4 DOM
9. 2026-06-08
   days on market $299,900 Active 3 DOM
10. 2026-06-07
    remarks 684-char remark
11. 2026-06-07
    listed $299,900 Active 2 DOM

ⓘ 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: $1,328 · $111/mo
• Projected year-2 tax: $3,003 · $250/mo
• Expected delta: +$1,675/yr (+$140/mo · 126.2%)

ⓘ 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 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,648
• − Mortgage interest: −$16,799
• − Property taxes: −$1,328
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,932
• − Management: −$2,932
• − Depreciation: −$8,724
• Taxable income: $2,434
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $6,668/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: Marlington Local
• NCES district ID: 3904988
• Math proficiency: 58% ▼ -10.00%
• Reading proficiency: 67% ▼ -8.00%
• Median HH income: $49,795
• Composite: 53.1/100
• National rank: #1514
• State rank: #253 of 656 in OH

Livability — Louisville

• Score: 79/100
• State rank: #142
• US rank: #2205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Stark County · 272,865 people
• City population: 20,031
• Metro: Canton-Massillon, OH
• Population (ZIP): 20,031
• Household income: $80,303
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 344.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 6% Lithuanian 5% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.38%
• Current HPI: 214.6849
• Rent YoY: ▲ 5.57%
• Metro: Canton-Massillon, 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

+109.7% since first listed

2 events — show timeline

• 2026-06-04 Listed $299,900 MLSNOW
• 2018-10-18 Sold (Public Records) $143,000 Public Records

Property tax history

+6.1%/yr

Latest (2024): $1,328 · +10.8% YoY. Source: county tax records.