800B Glynwood Rd · Wapakoneta, OH 45895

$135,000

2 bd · 1.0 ba · 1,380 sqft · Condo · 5 Days on market

Built 1976 Fair condition

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Why this score? — see what drove the D 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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special in Wapakoneta Schools! This 2-bedroom, 1-bath half duplex offers an incredible opportunity for investors or buyers looking to build instant sweat equity. With approximately 1,380 square feet of living space, this home features a spacious layout including a large living room with a unique arched wood-burning fireplace, custom built-in cabinetry, formal dining room, eat-in kitchen, and a bright 3-season room surrounded by windows. The property is packed with character that would be costly to recreate today, including decorative archways, extensive built-ins, natural woodwork, a freestanding wood-burning stove, and multiple living spaces. The attached 1-car garage offers addit

Key facts

• Attached garage
• 3-season room
• Decorative archways

Tags

• ARCHED WOOD-BURNING FIREPLACE
• CUSTOM BUILT-IN CABINETRY
• 3-SEASON ROOM
• DECORATIVE ARCHWAYS
• MULTIPLE LIVING SPACES
• ATTACHED GARAGE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Residential condominium; One level; Condition: fixer
• Construction: Brick and wood siding construction
• Exterior features: Patio; Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Electric cooktop; Range; Microwave; Refrigerator
• Flooring: Laminate flooring; Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Drapes on windows; Wood-burning fireplace in the living room; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-39 ($-474/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (16.2% below list).
• Recommended offer: $113k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.7% in Wapakoneta — 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 (#153 in OH, #2,320 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wapakoneta City (town): math 66% / reading 63% proficiency, ranked #218 of 656 in OH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 121 units permitted in Auglaize County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Auglaize County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $113,100 (16.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 9.9

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-24,372
• Equity at exit: $20,129

10-year hold

• IRR: -10.6%
• Equity multiple: 0.35×
• Total profit: $-24,390
• Equity at exit: $11,672

Cash invested: $37,800 (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 45895

• Home prices YoY: -30.9%
• Active inventory: 41
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $-39

Break-even live

Break-even rent $1,181

Max offer price $129,289

Occupancy floor 98%

Sensitivity live

Price	-10% $54	-5% $7	+0% $-39	+5% $-86	+10% $-133
Rent	-10% $-129	-5% $-84	+0% $-39	+5% $5	+10% $50
Rate	-1.0pp $29	-0.5pp $-5	base $-39	+0.5pp $-74	+1.0pp $-110

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 S Blackhoof St Wapakoneta, OH	1.0–2.0	1.0	954	$1,131	$1.19	24d	2	0.80mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-13
   statusdays on market $135,000 Pending 5 DOM
2. 2026-06-12
   days on market $135,000 Active 4 DOM
3. 2026-06-09
   remarks 699-char remark
4. 2026-06-09
   listed $135,000 Active 1 DOM

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,572
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$3,927
• Taxable loss: −$2,789
• Est. tax savings @ 24.0%: +$669
• After-tax cash flow: $196/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 1-bath home requires moderate renovations to modernize the kitchen and bathroom, and improve the landscaping. These updates would significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — outdated and in need of replacement
• Moderate bathroom fixtures — outdated and in need of replacement
• Minor landscaping — overgrown and in need of trimming

Value-add opportunities

• Resale kitchen renovation — modernizing the kitchen would significantly increase the home's appeal
• Resale bathroom renovation — modernizing the bathroom would significantly increase the home's appeal
• Both landscaping — improving the landscaping would enhance curb appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · outdated and in need of replacement	Moderate	$3,000–15,000
landscaping · overgrown and in need of trimming	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale kitchen renovation — modernizing the kitchen would significantly increase the home's appeal ↑
• Resale bathroom renovation — modernizing the bathroom would significantly increase the home's appeal ↑
• Both landscaping — improving the landscaping would enhance curb appeal and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wapakoneta City
• NCES district ID: 3904498
• Math proficiency: 66% ▼ -8.00%
• Reading proficiency: 63% ▼ -4.00%
• Median HH income: $51,471
• Composite: 54.97/100
• National rank: #1303
• State rank: #218 of 656 in OH

Livability — Wapakoneta

• Score: 79/100
• State rank: #153
• US rank: #2320

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

• Census place: Wapakoneta, OH
• County: Auglaize · 44,666 people
• Population (ZIP): 17,983
• Household income: $72,965
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 4.1

Population outlook (Auglaize County) Hauer SSP2

• Today (2025): 45,247 people
• By 2030: 44,448 · -1.8%
• By 2040: 42,355 · -6.4%
• By 2050: 39,722 · -12.2%
• By 2075: 33,967 · -24.9%
• By 2100: 26,839 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Auglaize

• 2024 margin: Solid R (+64.6) · D 17.3% · R 81.9%
• 2008→2024 swing: -23.4pp toward R · 2008: -41.2pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+62.6 2016: R+62.6 2012: R+48.9 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.24%
• Current HPI: 197.7334
• 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

1 event — show timeline

• 2026-06-08 Listed $135,000 WCARE