228 Renick Ave · Chillicothe, OH 45601

$103,000

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 1 Days on market

Built 1950 6,098 sqft lot Est $107k · at est.

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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 +22.4/30.0
• ARV discount +9.3/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well maintained 2-bedroom, 1-bath property offering comfort, functionality and plenty of extra space. Situated on a desirable corner lot, this home is in good condition and ready for its next owner to move right in or add their own personal touches. The spacious 2-car garage provides ample room for vehicles and storage, while the attached man cave creates the perfect spot for entertaining, hobbies or relaxing after a long day. Need even more space? Multiple storage shed offer endless possibilities for tools, lawn equipment or workshop use. The corner lot provides convenience and curb appeal with extra outdoor space to enjoy. Whether you're a first time homebuyer, downsi

Key facts

• Corner lot
• 6,098 sq ft lot
• 2 garage spots

Tags

• CORNER LOT
• MULTIPLE STORAGE SHED

Property features AI

Exterior

• Parking: Detached 2-car garage; 2 covered parking spaces (total 2 parking spaces)
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Single-family residential home; Two levels
• Construction: Vinyl siding
• Exterior features: Asphalt roof

Interior

• Bedrooms: 5 total rooms
• Flooring: Ceramic tile; Carpet; Wood
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Double pane windows; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $103k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Cap rate 8.3% vs local median 4.2% in Chillicothe — 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 (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chillicothe Primary School (570 students, 0% FRL); Chillicothe Middle School (math 29% / reading 43%, grade F, #541 of 654 statewide, top 83%, 395 students, 0% FRL); Chillicothe High School (math 32% / reading 57%, grade F, #470 of 781 statewide, top 62%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 178 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $39k; list at $103k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,000

Questions for the listing agent

1. Built in 1950 — 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 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $107,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Adams Ave	0.40mi	2/1.0	800 (-3%)	2mo	$80,000	$100	75
1026 Akron St	0.09mi	3/1.0 (+1)	900 (+9%)	9mo	$163,000	$181	68
959 Gilmore St	0.28mi	2/1.0	904 (+10%)	9mo	$135,000	$149	63
970 Dayton St	0.18mi	3/1.0 (+1)	896 (+9%)	16mo	$134,900	$151	59
873 Adams Ave	0.40mi	1/1.0 (-1)	856 (+4%)	16mo	$69,900	$82	56
863 Adams Ave	0.42mi	2/1.0	928 (+12%)	4mo	$52,000	$56	56
910 Madison Ave	0.35mi	3/1.0 (+1)	936 (+14%)	1mo	$165,000	$176	55
745 Jefferson Ave	0.60mi	2/1.0	864 (+5%)	18mo	$91,900	$106	50
896 Fleet St	0.37mi	2/1.0	725 (-12%)	18mo	$90,900	$125	48
898 Jefferson Ave	0.41mi	2/1.0	720 (-13%)	16mo	$70,000	$97	47
30 Wade St	0.68mi	2/1.0	896 (+9%)	10mo	$122,000	$136	46
896 Jefferson Ave	0.42mi	1/1.0 (-1)	701 (-15%)	17mo	$91,100	$130	36

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-5,768
• Equity at exit: $15,358

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $9,088
• Equity at exit: $8,906

Cash invested: $28,840 (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 45601

• Active inventory: 178
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,118 medium
• Mortgage (P&I): −$540
• Tax est. 1.5%: −$129 /mo · $1,545/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $171

Break-even live

Break-even rent $901

Max offer price $103,000

Occupancy floor 80%

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $103,000 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $13,413
• − Mortgage interest: −$5,770
• − Property taxes: −$1,545
• − Insurance: −$515
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − Depreciation: −$2,996
• Taxable income: $441
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $1,949/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: Chillicothe City
• NCES district ID: 3904374
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $37,990
• Composite: 34.55/100
• National rank: #5174
• State rank: #535 of 656 in OH

Livability — Chillicothe

• Score: 62/100
• State rank: #909
• US rank: #17195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chillicothe, OH
• County: Ross · 75,517 people
• Population (ZIP): 56,453
• Household income: $57,430
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 10.6

Population outlook (Ross County) Hauer SSP2

• Today (2025): 75,482 people
• By 2030: 74,035 · -1.9%
• By 2040: 70,702 · -6.3%
• By 2050: 66,706 · -11.6%
• By 2075: 55,398 · -26.6%
• By 2100: 42,197 · -44.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ross

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -32.1pp toward R · 2008: -7.2pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+35.2 2016: R+27.4 2012: R+2.4 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.40%
• Current HPI: 205.7051
• 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

+164.8% since first listed

4 events — show timeline

• 2026-06-18 Listed $103,000 SVAR
• 2025-02-05 Contingent — SVAR
• 2025-01-23 Listed $90,000 SVAR
• 1992-10-05 Sold (Public Records) $38,900 Public Records

Property tax history

-29.5%/yr

Latest (2025): $26 · +53.3% YoY. Source: county tax records.