1125 Anderson St · Piqua, OH 45356

$119,900

2 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 81 Days on market

Built 1920 5,663 sqft lot $90/sqft · 31% below area Est $174k · 31% under ↓ 8% since listing

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom home located in Piqua with a large living room with a bay window. Modern kitchen with Oak cabinetry, built-in oven and patio doors leading to the back deck. 2 bedrooms and full bath with a shower and Jacuzzi tub on the first floor and 2 additional bedrooms on the 2nd floor. Walking distance to Echo Lake and Fountain Park. Needs to be 'as is' conventional or cash offer.

Key facts

• Oak cabinetry
• Patio doors
• Bay window

Tags

• BAY WINDOW
• MODERN KITCHEN
• OAK CABINETRY
• BUILT-IN OVEN
• PATIO DOORS
• BACK DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
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: 1.01% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (median comp): $174,421
• List price: $119,900
• Delta: -31.26%
• 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
618 Cherry St	0.44mi	3/1.0 (+1)	1,314 (-1%)	2mo	$149,900	$114	71
802 Washington Ave	0.45mi	2/1.0	1,209 (-9%)	0mo	$125,900	$104	64
1115 Madison Ave	0.40mi	3/1.0 (+1)	1,248 (-6%)	3mo	$190,000	$152	64
1307 Walker St	0.52mi	2/1.5	1,435 (+8%)	1mo	$218,000	$152	60
1062 Boone St	0.53mi	3/1.5 (+1)	1,400 (+5%)	2mo	$200,000	$143	58
908 Camp St	0.59mi	2/1.0	1,209 (-9%)	2mo	$129,000	$107	56
1417 Madison Ave	0.40mi	2/2.0	1,182 (-11%)	6mo	$170,000	$144	54
505 Scott St	0.72mi	2/1.0	1,221 (-8%)	2mo	$75,000	$61	51
608 Virginia St	0.72mi	3/2.0 (+1)	1,385 (+4%)	5mo	$145,000	$105	46
511 Scott St	0.70mi	3/2.0 (+1)	1,428 (+8%)	5mo	$190,000	$133	42
735 Park Ave	0.74mi	3/1.5 (+1)	1,154 (-13%)	2mo	$189,000	$164	35
1334 Maplewood Dr	0.66mi	3/2.0 (+1)	1,497 (+13%)	6mo	$231,275	$154	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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,129
• Equity at exit: $17,877

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $13,832
• Equity at exit: $10,367

Cash invested: $33,572 (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 45356

• Active inventory: 139
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,211 high
• Mortgage (P&I): −$629
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $225

Break-even live

Break-even rent $926

Max offer price $119,900

Occupancy floor 76%

Sensitivity live

Price	-10% $293	-5% $259	+0% $225	+5% $191	+10% $157
Rent	-10% $129	-5% $177	+0% $225	+5% $273	+10% $321
Rate	-1.0pp $286	-0.5pp $256	base $225	+0.5pp $194	+1.0pp $162

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Walker St Piqua, OH	3.0	2.0	1100	$1,650	$1.50	5d	1	0.79mi
918 W Greene St Piqua, OH	2.0	1.5	1270	$900	$0.71	16d	1	0.79mi
519 Ann St Piqua, OH	3.0	1.0	1388	$1,300	$0.94	4d	1	0.86mi
316 N College St Piqua, OH	2.0	1.0	782	$1,075	$1.37	4d	3	0.98mi
323 Westview Dr Piqua, OH	2.0	1.5	1174	$1,650	$1.41	4d	1	1.07mi
701 N Wayne St Unit 118 Piqua, OH	2.0	1.0	944	$1,095	$1.16	25d	1	1.25mi
521-523 Wood St Piqua, OH	2.0	1.0	900	$950	$1.06	5d	1	1.25mi
628 N Main St Piqua, OH	1.0	1.0	914	$895	$0.98	25d	1	1.30mi
200 E High St Piqua, OH	3.0	1.0	1500	$1,365	$0.91	5d	1	1.49mi

Listing history 21 events

1. 2026-06-21
   days on market $119,900 Active 81 DOM
2. 2026-06-18
   days on market $119,900 Active 78 DOM
3. 2026-06-17
   days on market $119,900 Active 77 DOM
4. 2026-06-16
   days on market $119,900 Active 76 DOM
5. 2026-06-15
   days on market $119,900 Active 75 DOM
6. 2026-06-14
   days on market $119,900 Active 73 DOM
7. 2026-06-13
   days on market $119,900 Active 72 DOM
8. 2026-06-10
   days on market $119,900 Active 70 DOM
9. 2026-06-09
   days on market $119,900 Active 69 DOM
10. 2026-06-08
    days on market $119,900 Active 68 DOM
11. 2026-06-07
    days on market $119,900 Active 67 DOM
12. 2026-06-05
    days on market $119,900 Active 64 DOM
13. 2026-06-03
    days on market $119,900 Active 63 DOM
14. 2026-06-02
    days on market $119,900 Active 62 DOM
15. 2026-06-01
    days on market $119,900 Active 61 DOM
16. 2026-05-31
    days on market $119,900 Active 60 DOM
17. 2026-05-31
    days on market $119,900 Active 59 DOM
18. 2026-05-05
    price $119,900 381-char remark

    Show marketing remark (384 chars)

    4 bedroom home located in Piqua with a large living room with a bay window. Modern kitchen with Oak cabinetry, built-in oven and patio doors leading to the back deck. 2 bedrooms and full bath with a shower and Jacuzzi tub on the first floor and 2 additional bedrooms on the 2nd floor. Walking distance to Echo Lake and Fountain Park. Needs to be 'as is' conventional or cash offer.

19. 2026-05-05
    price $119,900 384-char remark

    Show marketing remark (384 chars)

    4 bedroom home located in Piqua with a large living room with a bay window. Modern kitchen with Oak cabinetry, built-in oven and patio doors leading to the back deck. 2 bedrooms and full bath with a shower and Jacuzzi tub on the first floor and 2 additional bedrooms on the 2nd floor. Walking distance to Echo Lake and Fountain Park. Needs to be 'as is' conventional or cash offer.

20. 2026-04-01
    listed $129,900 Active 381-char remark

    Show marketing remark (384 chars)

    4 bedroom home located in Piqua with a large living room with a bay window. Modern kitchen with Oak cabinetry, built-in oven and patio doors leading to the back deck. 2 bedrooms and full bath with a shower and Jacuzzi tub on the first floor and 2 additional bedrooms on the 2nd floor. Walking distance to Echo Lake and Fountain Park. Needs to be 'as is' conventional or cash offer.

21. 2026-04-01
    listed $129,900 Active 384-char remark

    Show marketing remark (384 chars)

    4 bedroom home located in Piqua with a large living room with a bay window. Modern kitchen with Oak cabinetry, built-in oven and patio doors leading to the back deck. 2 bedrooms and full bath with a shower and Jacuzzi tub on the first floor and 2 additional bedrooms on the 2nd floor. Walking distance to Echo Lake and Fountain Park. Needs to be 'as is' conventional or cash offer.

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $1,253 · $104/mo
• Expected delta: +$618/yr (+$51/mo · 97.2%)

ⓘ 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 ≥100°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: $14,534
• − Mortgage interest: −$6,716
• − Property taxes: −$635
• − Insurance: −$600
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,488
• Taxable income: $770
• Est. tax owed @ 24.0%: −$185
• After-tax cash flow: $2,517/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• Rent YoY: —
• Metro: Dayton-Kettering, 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

-7.7% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $119,900 Dayton MLS
• 2026-05-05 Price Changed $119,900 WRIST
• 2026-04-01 Listed $129,900 WRIST
• 2026-04-01 Listed $129,900 Dayton MLS

Property tax history

-3.7%/yr

Latest (2025): $635 · -18.4% YoY. Source: county tax records.