301 S Water St S · Williamsport, OH 43164

$119,900

5 bd · 1.0 ba · 1,880 sqft · SingleFamily public records · 73 Days on market

Built 1950 10,018 sqft lot $64/sqft · 51% below area Est $211k · 43% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• Appreciation +6.8/10.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

Key facts

• Fenced in backyard
• Corner lot
• 0.23 acre lot

Tags

• CORNER LOT
• FENCED IN BACKYARD

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#821 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Westfall Local (rural): math 49% / reading 66% proficiency, ranked #304 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($829 loan paydown + $4k appreciation (3.5% local appreciation)).
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, 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 73 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $120k implies a 141% 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 $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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: 1.16% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (median comp): $210,661
• List price: $119,900
• Delta: -43.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.13×
• Total profit: $37,820
• Equity at exit: $57,354

10-year hold

• IRR: 20.1%
• Equity multiple: 4.05×
• Total profit: $102,481
• Equity at exit: $91,164

Cash invested: $33,572 (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 43164

• Home prices YoY: 1.6%
• Active inventory: 13
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $316

Break-even live

Break-even rent $988

Max offer price $119,900

Occupancy floor 72%

Sensitivity live

Price	-10% $384	-5% $350	+0% $316	+5% $282	+10% $248
Rent	-10% $207	-5% $262	+0% $316	+5% $371	+10% $426
Rate	-1.0pp $377	-0.5pp $347	base $316	+0.5pp $285	+1.0pp $254

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-04
   statusdays on market $119,900 Pending 73 DOM
2. 2026-06-02
   days on market $119,900 Active 72 DOM
3. 2026-06-01
   days on market $119,900 Active 71 DOM
4. 2026-05-31
   days on market $119,900 Active 70 DOM
5. 2026-05-03
   status Active 149-char remark

   Show marketing remark (149 chars)

   1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

6. 2026-04-25
   status Pending 149-char remark

   Show marketing remark (149 chars)

   1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

7. 2026-04-11
   price $119,900 149-char remark

   Show marketing remark (149 chars)

   1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

8. 2026-03-26
   price $129,900 149-char remark

   Show marketing remark (149 chars)

   1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

9. 2026-03-14
   listed $139,900 Active 149-char remark

   Show marketing remark (149 chars)

   1625 square foot, 2 bedroom, 1 bath, single family home located in Williamsport. This home is situated on a large corner lot with fenced in backyard.

10. 1997-03-13
    soldstatus $49,650

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,548 · $129/mo
• Expected delta: +$323/yr (+$27/mo · 26.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°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: $16,666
• − Mortgage interest: −$6,716
• − Property taxes: −$1,225
• − Insurance: −$600
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$3,488
• Taxable income: $1,971
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $3,323/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: Westfall Local
• NCES district ID: 3904910
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $63,733
• Composite: 50.25/100
• National rank: #1891
• State rank: #304 of 656 in OH

Livability — Williamsport

• Score: 63/100
• State rank: #821
• US rank: #15304

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamsport, OH
• County: Pickaway · 57,589 people
• City population: 2,062
• Metro: Columbus, OH
• Population (ZIP): 2,062
• Household income: $71,111
• Rent vs Own: 27.2% rent · 72.8% own

Population outlook (Pickaway County) Hauer SSP2

• Today (2025): 59,488 people
• By 2030: 60,400 · +1.5%
• By 2040: 61,498 · +3.4%
• By 2050: 61,478 · +3.3%
• By 2075: 59,696 · +0.3%
• By 2100: 51,458 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada

Political lean MEDSL · Pickaway

• 2024 margin: Solid R (+48.5) · D 25.3% · R 73.8%
• 2008→2024 swing: -26.8pp toward R · 2008: -21.7pp · 2024: -48.5pp
• All cycles: 2024: R+48.5 2020: R+47.0 2016: R+42.6 2012: R+18.7 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.51%
• Current HPI: 224.7555
• 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

+141.5% since first listed

6 events — show timeline

• 2026-05-03 Relisted — CBRMLS
• 2026-04-25 Pending — CBRMLS
• 2026-04-11 Price Changed $119,900 CBRMLS
• 2026-03-26 Price Changed $129,900 CBRMLS
• 2026-03-14 Listed $139,900 CBRMLS
• 1997-03-13 Sold (Public Records) $49,650 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,225 · +0.5% YoY. Source: county tax records.