528 4th St · Washington Court House, OH 43160

$66,000

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 20 Days on market

Built 1900 4,530 sqft lot $79/sqft · 55% below area

---

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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corner lot, hosts this two bedroom home with living room, kitchen, dining area. Affordable living

Key facts

• 4,530 sq ft lot
• Built 1900
• Listed 20 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Lot approximately 4,530 square feet (about 0.104 acres); Residential zoning; No subdivision

Interior

• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Linoleum
• Bathrooms: One full bathroom on the main level
• Interior features: Carpet and linoleum flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($835 rent vs $66k).
• Recommended offer: $65k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.5% in Washington Court House — 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 77/100 on livability (#191 in OH, #2,912 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Washington Court House City (town): math 54% / reading 54% proficiency, ranked #409 of 656 in OH (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 118 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 71 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($57k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fayette County population projected at -18% 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 $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask is 65% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,010 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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: 1.27% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.43%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (median comp): $146,577
• List price: $66,000
• Delta: -54.97%
• 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
523 5th St	0.15mi	2/1.0	814 (-3%)	5mo	$145,700	$179	84
231 W Elm St	0.53mi	2/1.0	859 (+3%)	1mo	$155,000	$180	70
319 Mcelwain St	0.53mi	2/1.0	849 (+2%)	5mo	$131,500	$155	68
832 John St	0.31mi	2/1.0	927 (+11%)	11mo	$169,000	$182	58
1110 Vine St	0.17mi	3/1.0 (+1)	960 (+15%)	7mo	$152,000	$158	56
907 Sycamore St	0.16mi	2/1.0	940 (+12%)	23mo	$75,000	$80	52
329 E Elm St	0.18mi	2/1.0	960 (+15%)	21mo	$160,000	$167	49
804 Columbus Ave	0.64mi	2/1.0	892 (+7%)	12mo	$151,000	$169	49
611 Willard St	0.59mi	2/1.0	864 (+3%)	24mo	$157,500	$182	47
914 S North St	0.21mi	3/2.0 (+1)	952 (+14%)	15mo	$184,900	$194	45
415 Florence St	0.62mi	3/1.0 (+1)	960 (+15%)	2mo	$189,900	$198	39
130 W Ohio Ave	0.54mi	3/1.0 (+1)	946 (+13%)	11mo	$154,941	$164	39

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $3,462
• Equity at exit: $9,841

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $21,248
• Equity at exit: $5,706

Cash invested: $18,480 (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 43160

• Active inventory: 118
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $835 medium
• Mortgage (P&I): −$346
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $222

Break-even live

Break-even rent $554

Max offer price $66,000

Occupancy floor 68%

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 W Paint St Unit 1 Washington Court House, OH	1.0	1.0	700	$1,100	$1.57	43d	1	0.93mi
11 Residence Dr Washington Court House, OH	1.0–2.0	1.0–2.0	868	$969	$1.12	43d	1	0.96mi
99 Summit Ln Washington Court House, OH	1.0	1.0	765	$620	$0.81	43d	1	1.01mi
140 Summit Ln Washington Court House, OH	2.0	1.0	1030	$603	$0.59	43d	1	1.06mi

Listing history 24 events

1. 2026-06-18
   days on market $66,000 Active 20 DOM
2. 2026-06-17
   days on market $66,000 Active 19 DOM
3. 2026-06-16
   days on market $66,000 Active 18 DOM
4. 2026-06-15
   days on market $66,000 Active 17 DOM
5. 2026-06-13
   days on market $66,000 Active 15 DOM
6. 2026-06-12
   days on market $66,000 Active 14 DOM
7. 2026-06-09
   days on market $66,000 Active 11 DOM
8. 2026-06-08
   days on market $66,000 Active 10 DOM
9. 2026-06-08
   pricestatusdays on market $66,000 Active 9 DOM
10. 2026-05-08
    status Pending 76-char remark
11. 2026-04-30
    listed $40,000 Active 76-char remark
12. 2021-06-23
    soldstatus $58,000
13. 2021-06-21
    soldstatus $58,000 Closed

    Show marketing remark (97 chars)

    Corner lot, hosts this two bedroom home with living room, kitchen, dining area. Affordable living

14. 2021-06-14
    status Pending

    Show marketing remark (97 chars)

    Corner lot, hosts this two bedroom home with living room, kitchen, dining area. Affordable living

15. 2021-05-19
    historical Contingent Finance and Inspection

    Show marketing remark (97 chars)

    Corner lot, hosts this two bedroom home with living room, kitchen, dining area. Affordable living

16. 2021-03-10
    listed $62,750 Active

    Show marketing remark (97 chars)

    Corner lot, hosts this two bedroom home with living room, kitchen, dining area. Affordable living

17. 2020-08-03
    historical
18. 2019-07-05
    listed $64,500
19. 2019-07-02
    listed $64,500 Active
20. 2014-12-04
    historical
21. 2013-10-07
    listed $40,000
22. 2002-05-08
    soldstatus $48,000
23. 2000-04-10
    soldstatus $38,000
24. 1996-08-28
    soldstatus $16,000

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$132/yr (+$11/mo · 17.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (shaded) · 5% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,020
• − Mortgage interest: −$3,697
• − Property taxes: −$765
• − Insurance: −$330
• − Repairs & maintenance: −$802
• − Management: −$802
• − Depreciation: −$1,920
• Taxable income: $1,704
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $2,258/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: Washington Court House City
• NCES district ID: 3910011
• Math proficiency: 54% ▼ -12.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $36,060
• Composite: 44.77/100
• National rank: #2747
• State rank: #409 of 656 in OH

Livability — Washington Court House

• Score: 77/100
• State rank: #191
• US rank: #2912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington Court House, OH
• County: Fayette · 25,566 people
• City population: 21,966
• Population (ZIP): 21,966
• Household income: $57,475
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 6.5

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 27,616 people
• By 2030: 26,760 · -3.1%
• By 2040: 24,789 · -10.2%
• By 2050: 22,550 · -18.3%
• By 2075: 16,893 · -38.8%
• By 2100: 11,246 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+55.1) · D 22.1% · R 77.2%
• 2008→2024 swing: -32.0pp toward R · 2008: -23.1pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+51.5 2016: R+47.1 2012: R+22.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -228.13%
• Current HPI: 240.7307
• 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

+312.5% since first listed

17 events — show timeline

• 2026-06-05 Relisted — SVAR
• 2026-06-05 Price Changed $66,000 SVAR
• 2026-05-08 Pending — SVAR
• 2026-04-30 Listed $40,000 SVAR
• 2021-06-23 Sold (Public Records) $58,000 Public Records
• 2021-06-21 Sold (MLS) $58,000 CBRMLS
• 2021-06-14 Pending — CBRMLS
• 2021-05-19 Contingent — CBRMLS
• 2021-03-10 Listed $62,750 CBRMLS
• 2020-08-03 Listing Removed — CBRMLS
• 2019-07-05 Listed $64,500 SVAR
• 2019-07-02 Listed $64,500 CBRMLS
• 2014-12-04 Listing Removed — CBRMLS
• 2013-10-07 Listed $40,000 CBRMLS
• 2002-05-08 Sold (Public Records) $48,000 Public Records
• 2000-04-10 Sold (Public Records) $38,000 Public Records
• 1996-08-28 Sold (Public Records) $16,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $765 · -0.1% YoY. Source: county tax records.