1828 W Washington St · Springfield, OH 45506

$59,000

3 bd · 1.0 ba · 1,612 sqft · SingleFamily public records · 124 Days on market

Built 1891 5,662 sqft lot $37/sqft · 36% below area Est $92k · 36% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity with this 3 bedroom home currently being rented so please do not disturb the tenants. This property can be sold individually or as part of a package. Please contact agent for details.

Key facts

• 5,662 sq ft lot
• Built 1891
• Listed 123 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $895 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Snyder Park Elementary School (math 27% / reading 32%, grade F, #1,158 of 1,584 statewide, top 75%, 301 students, 0% FRL); Hayward Middle School (math 15% / reading 14%, grade F, #630 of 654 statewide, top 97%, 339 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $1,649/mo this rent would consume 47% of the median local household income ($42k/yr) (locally 684% 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 $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $59k implies a 413% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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: 2.79% ✓
• Cap rate: 24.50%
• Cash-on-cash: 65.03%
• DSCR: 3.89
• GRM: 3.0

CMA / ARV

• ARV (median comp): $92,403
• List price: $59,000
• Delta: -36.15%
• 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
106 Walter St	0.10mi	3/1.5	1,536 (-5%)	1mo	$45,000	$29	84
1417 W Main St	0.35mi	3/1.0	1,668 (+4%)	3mo	$142,500	$85	75
1537 W Pleasant St	0.34mi	3/1.0	1,463 (-9%)	2mo	$74,000	$51	67
1708 W High St	0.13mi	4/2.0 (+1)	1,512 (-6%)	10mo	$149,500	$99	67
317 Seever St	0.19mi	4/2.0 (+1)	1,509 (-6%)	7mo	$85,000	$56	66
1618 W Pleasant St	0.28mi	3/1.5	1,432 (-11%)	1mo	$78,000	$54	65
1815 Broadway St	0.44mi	3/2.0	1,650 (+2%)	8mo	$155,000	$94	65
1374 W Mulberry St	0.40mi	4/1.0 (+1)	1,519 (-6%)	2mo	$70,000	$46	65
1865 Overlook Dr	0.50mi	3/2.0	1,627 (+1%)	9mo	$165,000	$101	63
1933 Maiden Ln	0.37mi	3/2.0	1,418 (-12%)	9mo	$165,000	$116	51
1951 Harshman Blvd	0.51mi	2/1.0 (-1)	1,394 (-14%)	1mo	$175,000	$126	48
1230 W Pleasant St	0.54mi	4/2.5 (+1)	1,804 (+12%)	3mo	$159,900	$89	42

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: 64.2%
• Equity multiple: 3.87×
• Total profit: $47,484
• Equity at exit: $8,797

10-year hold

• IRR: 68.6%
• Equity multiple: 7.95×
• Total profit: $114,870
• Equity at exit: $5,101

Cash invested: $16,520 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$309
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $895

Break-even live

Break-even rent $515

Max offer price $59,000

Occupancy floor 41%

Sensitivity live

Price	-10% $929	-5% $912	+0% $895	+5% $879	+10% $862
Rent	-10% $765	-5% $830	+0% $895	+5% $960	+10% $1,026
Rate	-1.0pp $925	-0.5pp $910	base $895	+0.5pp $880	+1.0pp $864

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	4d	1	0.65mi
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	13d	1	1.10mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	13d	1	1.11mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	13d	1	1.12mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	25d	1	1.13mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	13d	1	1.13mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	45d	1	1.25mi
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	5d	1	1.25mi

Listing history 26 events

1. 2026-06-22
   days on market $59,000 Active 124 DOM
2. 2026-06-19
   days on market $59,000 Active 121 DOM
3. 2026-06-18
   days on market $59,000 Active 120 DOM
4. 2026-06-17
   days on market $59,000 Active 119 DOM
5. 2026-06-16
   days on market $59,000 Active 118 DOM
6. 2026-06-15
   days on market $59,000 Active 117 DOM
7. 2026-06-14
   days on market $59,000 Active 115 DOM
8. 2026-06-12
   days on market $59,000 Active 114 DOM
9. 2026-06-09
   days on market $59,000 Active 111 DOM
10. 2026-06-08
    days on market $59,000 Active 110 DOM
11. 2026-06-07
    days on market $59,000 Active 109 DOM
12. 2026-06-05
    days on market $59,000 Active 106 DOM
13. 2026-06-02
    days on market $59,000 Active 104 DOM
14. 2026-06-01
    pricedays on market $59,000 Active 103 DOM
15. 2026-05-31
    days on market $60,000 Active 102 DOM
16. 2026-05-30
    days on market $60,000 Active 101 DOM
17. 2026-03-08
    price $60,000 212-char remark

    Show marketing remark (212 chars)

    Great investment opportunity with this 3 bedroom home currently being rented so please do not disturb the tenants. This property can be sold individually or as part of a package. Please contact agent for details.

18. 2026-03-02
    status Active 212-char remark

    Show marketing remark (212 chars)

    Great investment opportunity with this 3 bedroom home currently being rented so please do not disturb the tenants. This property can be sold individually or as part of a package. Please contact agent for details.

19. 2026-02-20
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Great investment opportunity with this 3 bedroom home currently being rented so please do not disturb the tenants. This property can be sold individually or as part of a package. Please contact agent for details.

20. 2026-02-08
    listed $65,000 Active 212-char remark

    Show marketing remark (212 chars)

    Great investment opportunity with this 3 bedroom home currently being rented so please do not disturb the tenants. This property can be sold individually or as part of a package. Please contact agent for details.

21. 2018-03-01
    soldstatus $11,500 125-char remark

    Show marketing remark (125 chars)

    Wonderful fixer-upper oozing with potential. This property is perfect for an investor or first time home buyer with a vision.

22. 2018-02-14
    listed $11,500 125-char remark

    Show marketing remark (125 chars)

    Wonderful fixer-upper oozing with potential. This property is perfect for an investor or first time home buyer with a vision.

23. 2016-11-04
    historical
24. 2005-04-22
    listed $25,900
25. 1995-06-26
    soldstatus $28,000
26. 1995-06-26
    soldstatus $28,000

ⓘ 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: $878 · $73/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$21/yr (+$2/mo · 2.4%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,783
• − Mortgage interest: −$3,305
• − Property taxes: −$878
• − Insurance: −$295
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$1,716
• Taxable income: $10,424
• Est. tax owed @ 24.0%: −$2,502
• After-tax cash flow: $8,241/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.97%
• Current HPI: 286.2883
• Rent YoY: —
• Metro: Springfield, 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

+114.3% since first listed

10 events — show timeline

• 2026-03-08 Price Changed $60,000 WRIST
• 2026-03-02 Relisted — WRIST
• 2026-02-20 Pending — WRIST
• 2026-02-08 Listed $65,000 WRIST
• 2018-03-01 Sold (MLS) $11,500 WRIST
• 2018-02-14 Listed $11,500 WRIST
• 2016-11-04 Listing Removed — WRIST
• 2005-04-22 Listed $25,900 WRIST
• 1995-06-26 Sold (Public Records) $28,000 Public Records
• 1995-06-26 Sold (Public Records) $28,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $878 · +14.7% YoY. Source: county tax records.