15393 Shade Rd · Athens, OH 45735

$340,000

4 bd · 3.0 ba · 2,446 sqft · SingleFamily · 47 Days on market

Built 2016 12 ac lot $139/sqft · 61% below area

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Why this score? — see what drove the F 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).

• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Cash flow +2.9/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Take in all the beauty of this gorgeous home situated on 11.8 acres located less than 15 minutes from Athens. This 4 bedroom, 3 full bathroom home boasts beautiful, vaulted ceilings on the main floor and an open concept living space that showcases a beautiful wood burning fireplace that gives all the cozy "feels" as soon as you walk in! Both the owner's suite bathroom and the upstairs bathroom feature heated tiled floors! The walk-out basement has finished floors in the huge family room, the 4th bedroom and the 3rd full bathroom. Part of the basement is unfinished floors but provides tons of storage and offers flexibility to suit your needs! This home offers 3 covered parking spaces that doubles as a gathering place for shaded summer family fun. In the backyard is where the adventure begins! You will find an outdoor shower, a fire pit, a chicken coop, and a fenced in goat shed just beyond the tree line. There are trails cut almost to the back of the property and here you will find the peace and quiet needed to free your mind from the hustle of the everyday grind!

Key facts

• 11.8 acres
• Finished floors
• Fire pit

Tags

• 11.8 ACRES
• WOOD BURNING FIREPLACE
• HEATED TILED FLOORS
• FINISHED FLOORS
• OUTDOOR SHOWER
• FIRE PIT

Property features AI

Exterior

• Parking: Farm building parking features; 34 covered carport spaces
• Utilities: Public water; Private sewer
• Home design: Single-family residence; Two levels; Built in 2016; No shared/common walls
• Construction: Block foundation
• Exterior features: Balcony; Deck; Shed(s)

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Wood flooring; Ceramic/porcelain flooring; Vinyl flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Walk-out, full basement; Insulated windows throughout; Wood-burning stove (one fireplace)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (47.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (54.3% below list).
• Recommended offer: $156k (54.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 86/100 on livability (#37 in OH, #350 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment F.
• Alexander Local (rural): math 44% / reading 57% proficiency, ranked #440 of 656 in OH (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $17k appreciation (5.1% local appreciation)).
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y 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 $285k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $155,510 (54.3% 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. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
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: 0.46% ✗
• Cap rate: 2.34%
• Cash-on-cash: -14.13%
• DSCR: 0.37
• GRM: 18.2

CMA / ARV

• ARV (median comp): $870,137
• List price: $340,000
• Delta: -60.93%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

5.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $8,976
• Equity at exit: $194,794

10-year hold

• IRR: 4.8%
• Equity multiple: 1.92×
• Total profit: $88,059
• Equity at exit: $337,954

Cash invested: $95,200 (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 45735

• Home prices YoY: 3.0%
• Active inventory: 7
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-1,121

Break-even live

Break-even rent $2,974

Max offer price $177,770

Occupancy floor —

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $340,000 Active 47 DOM
2. 2026-06-18
   days on market $340,000 Active 46 DOM
3. 2026-06-17
   days on market $340,000 Active 45 DOM
4. 2026-06-16
   days on market $340,000 Active 44 DOM
5. 2026-06-15
   days on market $340,000 Active 43 DOM
6. 2026-06-14
   days on market $340,000 Active 41 DOM
7. 2026-06-12
   days on market $340,000 Active 40 DOM
8. 2026-06-09
   days on market $340,000 Active 37 DOM

   Show marketing remark (1089 chars)

   Take in all the beauty of this gorgeous home situated on 11.8 acres located less than 15 minutes from Athens. This 4 bedroom, 3 full bathroom home boasts beautiful, vaulted ceilings on the main floor and an open concept living space that showcases a beautiful wood burning fireplace that gives all the cozy "feels" as soon as you walk in! Both the owner's suite bathroom and the upstairs bathroom feature heated tiled floors! The walk-out basement has finished floors in the huge family room, the 4th bedroom and the 3rd full bathroom. Part of the basement is unfinished floors but provides tons of storage and offers flexibility to suit your needs! This home offers 3 covered parking spaces that doubles as a gathering place for shaded summer family fun. In the backyard is where the adventure begins! You will find an outdoor shower, a fire pit, a chicken coop, and a fenced in goat shed just beyond the tree line. There are trails cut almost to the back of the property and here you will find the peace and quiet needed to free your mind from the hustle of the everyday grind!

9. 2026-06-09
   price $340,000 Active 36 DOM

   Show marketing remark (1089 chars)

   Take in all the beauty of this gorgeous home situated on 11.8 acres located less than 15 minutes from Athens. This 4 bedroom, 3 full bathroom home boasts beautiful, vaulted ceilings on the main floor and an open concept living space that showcases a beautiful wood burning fireplace that gives all the cozy "feels" as soon as you walk in! Both the owner's suite bathroom and the upstairs bathroom feature heated tiled floors! The walk-out basement has finished floors in the huge family room, the 4th bedroom and the 3rd full bathroom. Part of the basement is unfinished floors but provides tons of storage and offers flexibility to suit your needs! This home offers 3 covered parking spaces that doubles as a gathering place for shaded summer family fun. In the backyard is where the adventure begins! You will find an outdoor shower, a fire pit, a chicken coop, and a fenced in goat shed just beyond the tree line. There are trails cut almost to the back of the property and here you will find the peace and quiet needed to free your mind from the hustle of the everyday grind!

10. 2026-06-08
    days on market $350,000 Active 36 DOM
11. 2026-06-07
    days on market $350,000 Active 35 DOM
12. 2026-06-05
    days on market $350,000 Active 32 DOM
13. 2026-06-03
    days on market $350,000 Active 31 DOM
14. 2026-06-02
    days on market $350,000 Active 30 DOM
15. 2026-06-01
    days on market $350,000 Active 29 DOM
16. 2026-05-31
    days on market $350,000 Active 28 DOM
17. 2026-05-30
    days on market $350,000 Active 27 DOM
18. 2026-05-03
    listed $350,000 Active 1081-char remark
19. 2026-04-29
    listed $350,000 Active 1089-char remark

    Show marketing remark (1089 chars)

    Take in all the beauty of this gorgeous home situated on 11.8 acres located less than 15 minutes from Athens. This 4 bedroom, 3 full bathroom home boasts beautiful, vaulted ceilings on the main floor and an open concept living space that showcases a beautiful wood burning fireplace that gives all the cozy "feels" as soon as you walk in! Both the owner's suite bathroom and the upstairs bathroom feature heated tiled floors! The walk-out basement has finished floors in the huge family room, the 4th bedroom and the 3rd full bathroom. Part of the basement is unfinished floors but provides tons of storage and offers flexibility to suit your needs! This home offers 3 covered parking spaces that doubles as a gathering place for shaded summer family fun. In the backyard is where the adventure begins! You will find an outdoor shower, a fire pit, a chicken coop, and a fenced in goat shed just beyond the tree line. There are trails cut almost to the back of the property and here you will find the peace and quiet needed to free your mind from the hustle of the everyday grind!

20. 2026-04-28
    listed $350,000 Active

    Show marketing remark (1089 chars)

    Take in all the beauty of this gorgeous home situated on 11.8 acres located less than 15 minutes from Athens. This 4 bedroom, 3 full bathroom home boasts beautiful, vaulted ceilings on the main floor and an open concept living space that showcases a beautiful wood burning fireplace that gives all the cozy "feels" as soon as you walk in! Both the owner's suite bathroom and the upstairs bathroom feature heated tiled floors! The walk-out basement has finished floors in the huge family room, the 4th bedroom and the 3rd full bathroom. Part of the basement is unfinished floors but provides tons of storage and offers flexibility to suit your needs! This home offers 3 covered parking spaces that doubles as a gathering place for shaded summer family fun. In the backyard is where the adventure begins! You will find an outdoor shower, a fire pit, a chicken coop, and a fenced in goat shed just beyond the tree line. There are trails cut almost to the back of the property and here you will find the peace and quiet needed to free your mind from the hustle of the everyday grind!

21. 2025-11-25
    listed $345,000 Active
22. 2025-11-24
    historical
23. 2025-11-16
    price $349,999
24. 2025-11-16
    price $349,999
25. 2025-11-02
    price $360,000
26. 2025-11-02
    price $360,000
27. 2025-10-25
    listed $389,000 Active
28. 2025-10-25
    listed $389,000 Active
29. 2025-10-22
    historical
30. 2025-10-14
    historical
31. 2025-10-13
    price $399,000
32. 2025-10-07
    price $418,000
33. 2025-09-02
    price $420,000
34. 2025-09-02
    price $395,000
35. 2025-07-24
    listed $410,000 Active
36. 2025-06-27
    price $435,000
37. 2025-06-03
    listed $445,000 Active
38. 2020-12-09
    soldstatus $285,000
39. 2020-07-13
    listed $285,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,661
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$9,891
• Taxable loss: −$20,061
• Est. tax savings @ 24.0%: +$4,815
• After-tax cash flow: $-8,639/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: Alexander Local
• NCES district ID: 3904590
• Math proficiency: 44% ▼ -26.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $42,034
• Composite: 42.39/100
• National rank: #3238
• State rank: #440 of 656 in OH

Livability — Athens

• Score: 86/100
• State rank: #37
• US rank: #350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Athens · 60,466 people
• City population: 33,329
• Population (ZIP): 1,720
• Household income: $52,957
• Rent vs Own: 6.9% rent · 93.1% own

Population outlook (Athens County) Hauer SSP2

• Today (2025): 71,867 people
• By 2030: 73,556 · +2.4%
• By 2040: 74,528 · +3.7%
• By 2050: 74,947 · +4.3%
• By 2075: 77,996 · +8.5%
• By 2100: 81,619 · +13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Italian 1% Romanian 1% Iranian 1%
• Foreign-born: 3% · China
• Languages at home: 96% English-only · Chinese 3% Spanish 1%

Political lean MEDSL · Athens

• 2024 margin: D (+10.8) · D 54.9% · R 44.2%
• 2008→2024 swing: -24.5pp toward R · 2008: 35.3pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.0 2016: D+16.9 2012: D+35.0 2008: D+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.10%
• Current HPI: 176.0444
• 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

+19.3% since first listed

25 events — show timeline

• 2026-06-09 Price Changed $340,000 ACBOR
• 2026-06-09 Price Changed $340,000 MLSNOW
• 2026-06-09 Price Changed $340,000 CBRMLS
• 2026-05-03 Listed $350,000 CBRMLS
• 2026-04-29 Listed $350,000 ACBOR
• 2026-04-28 Listed $350,000 MLSNOW
• 2025-11-25 Listed $345,000 ACBOR
• 2025-11-24 Listing Removed — CBRMLS
• 2025-11-16 Price Changed $349,999 ACBOR
• 2025-11-16 Price Changed $349,999 CBRMLS
• 2025-11-02 Price Changed $360,000 ACBOR
• 2025-11-02 Price Changed $360,000 CBRMLS
• 2025-10-25 Listed $389,000 ACBOR
• 2025-10-25 Listed $389,000 CBRMLS
• 2025-10-22 Listing Removed — CBRMLS
• 2025-10-14 Listing Removed — CBRMLS
• 2025-10-13 Price Changed $399,000 CBRMLS
• 2025-10-07 Price Changed $418,000 CBRMLS
• 2025-09-02 Price Changed $395,000 CBRMLS
• 2025-09-02 Price Changed $420,000 CBRMLS
• 2025-07-24 Listed $410,000 CBRMLS
• 2025-06-27 Price Changed $435,000 CBRMLS
• 2025-06-03 Listed $445,000 CBRMLS
• 2020-12-09 Sold (MLS) $285,000 ACBOR
• 2020-07-13 Listed $285,000 ACBOR