302 S Johnson St · Ada, OH 45810

$165,000

4 bd · 1.0 ba · 2,264 sqft · SingleFamily public records · 25 Days on market

Built 1930 7,500 sqft lot $73/sqft · at area comps Est $186k · 11% under

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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).

• ARV discount +12.6/15.0
• Cash flow +10.0/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable home in a charming college town? This 2-bedroom home in Ada offers plenty of potential and is the perfect opportunity for first-time buyers, investors, or anyone ready to make a house their own. Home to Ohio Northern University, Ada is known for its small-town charm, quiet atmosphere, and strong community feel. onu.edu +2 This property features a nice yard, a detached garage, and solid potential throughout. While it could use some improvements and personal touches, it offers a great foundation at an attractive price point. Whether you're looking for a starter home, rental investment, or project property, this home is full of possibilities

Key facts

• 7,500 sq ft lot
• Built 1930
• Listed 25 days

Property features AI

Finance

• Other: Property listed as residential income (multi-family)
• Financial info: Annual tax amount reported

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story multi-family residential income property; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 50 x 150; Residential zoning

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Baseboard heating; Natural gas heating; No central cooling
• Interior features: Deck; Porch

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (29.8% below list).
• Recommended offer: $116k (29.8% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.4% in Ada — 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 80/100 on livability (#119 in OH, #1,750 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Ada Exempted Village (rural): math 65% / reading 70% proficiency, ranked #190 of 656 in OH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ada Elementary School (math 69% / reading 71%, grade A-, #380 of 1,584 statewide, top 25%, 464 students, 0% FRL); Ada High School (math 60% / reading 69%, grade B-, #164 of 781 statewide, top 24%, 389 students, 67% FRL).
• Market conditions: 23 active listings in the ZIP; 18 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hardin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,872 (29.8% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.70% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 11.9

CMA / ARV

• ARV (median comp): $186,250
• List price: $165,000
• Delta: -11.41%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 S Johnson St	0.06mi	4/2.0	2,381 (+5%)	14mo	$310,000	$130	72
538 N Main St	0.53mi	4/2.0	2,264 (0%)	7mo	$215,000	$95	66
202 E Montford Ave	0.36mi	4/2.0	2,040 (-10%)	11mo	$159,900	$78	54
351 W W Buckeye Ave	0.35mi	5/2.0 (+1)	2,046 (-10%)	8mo	$185,000	$90	52
327 W North Ave	0.62mi	4/1.5	2,060 (-9%)	3mo	$163,900	$80	52
629 N Main St	0.66mi	4/2.0	2,432 (+7%)	3mo	$195,900	$81	50
505 N Gilbert St	0.50mi	5/2.0 (+1)	2,150 (-5%)	12mo	$278,000	$129	49
425 Edwards St	0.42mi	4/1.5	1,948 (-14%)	11mo	$125,500	$64	46
128 W North Ave	0.61mi	4/2.0	1,944 (-14%)	3mo	$186,000	$96	41
602 Conley Ave	0.63mi	4/3.0	2,568 (+13%)	3mo	$315,000	$123	38
501 W North Ave	0.70mi	3/2.0 (-1)	2,087 (-8%)	14mo	$257,500	$123	34

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: -20.7%
• Equity multiple: 0.28×
• Total profit: $-33,233
• Equity at exit: $24,602

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-37,466
• Equity at exit: $14,266

Cash invested: $46,200 (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 45810

• Home prices YoY: -31.1%
• Active inventory: 23
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $-101

Break-even live

Break-even rent $1,287

Max offer price $147,145

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-54	+0% $-101	+5% $-148	+10% $-194
Rent	-10% $-193	-5% $-147	+0% $-101	+5% $-55	+10% $-10
Rate	-1.0pp $-18	-0.5pp $-59	base $-101	+0.5pp $-144	+1.0pp $-187

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   status $165,000 Pending 25 DOM
2. 2026-06-08
   days on market $165,000 Active 25 DOM
3. 2026-06-07
   days on market $165,000 Active 24 DOM
4. 2026-06-07
   days on marketlisting id $165,000 Active 23 DOM
5. 2026-06-04
   days on market $165,000 Active 20 DOM

   Show marketing remark (675 chars)

   Looking for an affordable home in a charming college town? This 2-bedroom home in Ada offers plenty of potential and is the perfect opportunity for first-time buyers, investors, or anyone ready to make a house their own. Home to Ohio Northern University, Ada is known for its small-town charm, quiet atmosphere, and strong community feel. onu.edu +2 This property features a nice yard, a detached garage, and solid potential throughout. While it could use some improvements and personal touches, it offers a great foundation at an attractive price point. Whether you're looking for a starter home, rental investment, or project property, this home is full of possibilities

6. 2026-06-02
   days on market $165,000 Active 19 DOM
7. 2026-06-01
   days on market $165,000 Active 18 DOM
8. 2026-05-31
   days on market $165,000 Active 17 DOM
9. 2026-05-14
   listed $165,000 Active 675-char remark

   Show marketing remark (675 chars)

   Looking for an affordable home in a charming college town? This 2-bedroom home in Ada offers plenty of potential and is the perfect opportunity for first-time buyers, investors, or anyone ready to make a house their own. Home to Ohio Northern University, Ada is known for its small-town charm, quiet atmosphere, and strong community feel. onu.edu +2 This property features a nice yard, a detached garage, and solid potential throughout. While it could use some improvements and personal touches, it offers a great foundation at an attractive price point. Whether you're looking for a starter home, rental investment, or project property, this home is full of possibilities

10. 2026-05-12
    listed $165,000 Active 552-char remark

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $1,782 · $148/mo
• Expected delta: +$792/yr (+$66/mo · 80.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $13,905
• − Mortgage interest: −$9,243
• − Property taxes: −$989
• − Insurance: −$825
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$4,800
• Taxable loss: −$4,177
• Est. tax savings @ 24.0%: +$1,002
• After-tax cash flow: $-210/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: Ada Exempted Village
• NCES district ID: 3904518
• Math proficiency: 65% ▼ -10.00%
• Reading proficiency: 70% ▼ -5.00%
• Median HH income: $42,321
• Composite: 56.55/100
• National rank: #1149
• State rank: #190 of 656 in OH

Livability — Ada

• Score: 80/100
• State rank: #119
• US rank: #1750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ada, OH
• County: Hardin · 33,287 people
• Population (ZIP): 7,345
• Household income: $59,065
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 13.9

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 31,000 people
• By 2030: 30,031 · -3.1%
• By 2040: 27,500 · -11.3%
• By 2050: 25,265 · -18.5%
• By 2075: 20,485 · -33.9%
• By 2100: 16,031 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 7% Iranian 3% Lithuanian 3%
• Foreign-born: 3% · China, South Korea
• Languages at home: 95% English-only · Spanish 2% Chinese 1% Arabic 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+54.7) · D 22.2% · R 76.9%
• 2008→2024 swing: -33.8pp toward R · 2008: -20.9pp · 2024: -54.7pp
• All cycles: 2024: R+54.7 2020: R+52.0 2016: R+47.2 2012: R+23.5 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.51%
• Current HPI: 237.9299
• 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

+0.0% since first listed

4 events — show timeline

• 2026-06-08 Pending — WCARE
• 2026-06-04 Pending — NORIS
• 2026-05-14 Listed $165,000 NORIS
• 2026-05-12 Listed $165,000 WCARE

Property tax history

+0.3%/yr

Latest (2025): $989 · +0.8% YoY. Source: county tax records.