409 W Main St · Wilmington, OH 45177

$190,000

3 bd · 1.0 ba · 984 sqft · SingleFamily public records · 14 Days on market

Built 1958 5,998 sqft lot Est $170k · 12% over

---

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 +14.5/30.0
• DSCR +4.4/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

A well maintained three bedroom ranch style features living room, three bedrooms, full bath, eat-in kitchen, washer/dryer hookup. Other features include replacement windows and large deck off rear.

Key facts

• 5,998 sq ft lot
• Garage
• Built 1958

Property features AI

Finance

• Other: Lease not considered
• HOA & community: No homeowners association

Exterior

• Parking: Built-in garage with 1 garage space
• Utilities: Public water; Public sewer; Natural gas
• Home design: Ranch-style single family home; One story; Poured foundation
• Construction: Vinyl siding; Shingle roof; Poured foundation; Built in (year not provided)
• Exterior features: Vinyl windows; Residential zoning; Lot roughly 0.14 acre

Interior

• Kitchen: Kitchen roughly 16 x 12
• Bedrooms: Three bedrooms, all on main level; Primary bedroom about 14 x 12; Second bedroom about 12 x 10; Third bedroom about 10 x 10
• Bathrooms: One full bathroom on main level
• Heating & cooling: Gas heating; Central air conditioning; Gas water heating
• Interior features: Six total rooms; Walkout living room; Crawl basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $43 ($513/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (18.5% below list).
• Recommended offer: $155k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#202 in OH, #3,127 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F, employment F.
• Wilmington City (town): math 42% / reading 51% proficiency, ranked #492 of 656 in OH (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Denver Place Elementary School (math 59% / reading 56%, grade C+, #721 of 1,584 statewide, top 46%, 473 students, 52% FRL); Rodger O. Borror Middle School (math 35% / reading 44%, grade F, #519 of 654 statewide, top 80%, 502 students, 48% FRL); Wilmington High School (math 24% / reading 62%, grade F, #494 of 781 statewide, top 63%, 663 students, 46% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 108 active listings in the ZIP; 119 units permitted in Clinton 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 $6k of value loss. Plan a longer hold.
• Clinton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y ago 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 $74k; list at $190k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,900 (18.5% below list)

Questions for the listing agent

1. Built in 1958 — 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. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $170,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Richardson Pl	0.29mi	3/1.0	1,064 (+8%)	4mo	$203,500	$191	70
51 N Wood St	0.15mi	3/2.0	1,090 (+11%)	2mo	$220,000	$202	69
421 N Spring St	0.45mi	2/1.0 (-1)	978 (-1%)	5mo	$120,000	$123	69
660 Xenia Ave	0.70mi	3/1.5	986 (+0%)	1mo	$138,350	$140	64
149 W Truesdell St	0.37mi	2/1.0 (-1)	1,026 (+4%)	8mo	$178,000	$173	64
533 N Wood St	0.52mi	3/1.0	933 (-5%)	10mo	$137,000	$147	58
116 Woodland Dr	0.71mi	3/1.5	984 (0%)	8mo	$217,500	$221	58
337 Charles St	0.59mi	3/1.0	1,048 (+6%)	10mo	$140,000	$134	53
670 Xenia Ave	0.70mi	3/2.0	1,042 (+6%)	1mo	$237,000	$227	53
651 Lytle Pl	0.64mi	3/1.5	864 (-12%)	1mo	$230,000	$266	47
454 Belmont Ave	0.73mi	2/1.0 (-1)	880 (-11%)	4mo	$35,000	$40	40
313 N High St	0.68mi	3/1.0	1,126 (+14%)	10mo	$165,000	$147	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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-28,121
• Equity at exit: $28,330

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-21,213
• Equity at exit: $16,428

Cash invested: $53,200 (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 45177

• Active inventory: 108
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,549 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$105 /mo · $1,265/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $43

Break-even live

Break-even rent $1,495

Max offer price $190,000

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $97	+0% $43	+5% $-11	+10% $-65
Rent	-10% $-80	-5% $-18	+0% $43	+5% $104	+10% $165
Rate	-1.0pp $138	-0.5pp $91	base $43	+0.5pp $-6	+1.0pp $-57

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-22
   days on market $190,000 Active 14 DOM
2. 2026-06-18
   days on market $190,000 Active 11 DOM
3. 2026-06-17
   days on market $190,000 Active 10 DOM
4. 2026-06-16
   days on market $190,000 Active 9 DOM
5. 2026-06-15
   days on market $190,000 Active 8 DOM
6. 2026-06-14
   days on market $190,000 Active 6 DOM
7. 2026-06-10
   days on market $190,000 Active 3 DOM
8. 2026-06-09
   days on market $190,000 Active 2 DOM
9. 2026-06-08
   remarks 119-char remark
10. 2026-06-08
    listed $190,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $1,265 · $105/mo
• Projected year-2 tax: $2,114 · $176/mo
• Expected delta: +$850/yr (+$71/mo · 67.2%)

ⓘ 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 ≥99°F today · 19 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: $18,588
• − Mortgage interest: −$10,643
• − Property taxes: −$1,265
• − Insurance: −$950
• − Repairs & maintenance: −$1,487
• − Management: −$1,487
• − Depreciation: −$5,527
• Taxable loss: −$2,771
• Est. tax savings @ 24.0%: +$665
• After-tax cash flow: $1,178/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: Wilmington City
• NCES district ID: 3904511
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 51% ▼ -6.00%
• Median HH income: $43,201
• Composite: 39.2/100
• National rank: #4020
• State rank: #492 of 656 in OH

Livability — Wilmington

• Score: 77/100
• State rank: #202
• US rank: #3127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, OH
• County: Clinton · 46,911 people
• Population (ZIP): 22,442
• Household income: $70,483
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 9.5

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 41,352 people
• By 2030: 40,831 · -1.3%
• By 2040: 39,049 · -5.6%
• By 2050: 36,408 · -12.0%
• By 2075: 29,652 · -28.3%
• By 2100: 20,736 · -49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+54.6) · D 22.3% · R 76.9%
• 2008→2024 swing: -24.3pp toward R · 2008: -30.3pp · 2024: -54.6pp
• All cycles: 2024: R+54.6 2020: R+52.6 2016: R+52.6 2012: R+35.2 2008: R+30.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.35%
• Current HPI: 238.9182
• 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

+533.3% since first listed

8 events — show timeline

• 2026-06-07 Listed $190,000 Cincy MLS
• 2006-03-27 Sold (Public Records) $74,000 Public Records
• 2006-03-24 Sold (MLS) $74,000 Cincy MLS
• 2005-11-02 Listed $79,900 Cincy MLS
• 2003-11-05 Listing Removed — Cincy MLS
• 2003-06-19 Listed $74,900 Cincy MLS
• 1989-07-18 Sold (Public Records) $41,700 Public Records
• 1985-07-16 Sold (Public Records) $30,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,265 · -3.4% YoY. Source: county tax records.