195 Furnace St · Logan, OH 43138

$158,000

3 bd · 1.0 ba · 1,702 sqft · SingleFamily public records · 60 Days on market

Built 1907 5,227 sqft lot $93/sqft · 11% below area Est $177k · 11% under

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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 +20.2/30.0
• ARV discount +12.3/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +4.7/10.0
• 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

Charming 2-story home located in Logan offering 3 bedrooms and 2 full baths, full of character and ready for your personal touch. Situated on a spacious corner lot, this property features a large covered front porch, original woodwork, and hardwood floors throughout much of the home. The main level offers multiple living spaces including a front living room and an additional family room, along with a dining area and a generously sized kitchen with ample cabinet space. Upstairs you'll find three bedrooms and additional space with potential for customization. This home is being sold as-is and will require repairs and updates, making it a great opportunity for investors, flippers, or buyers. Conveniently located in a quiet neighborhood close to local amenities. Bring your vision and make this property your own!

Key facts

• Original woodwork
• Quiet neighborhood
• Hardwood floors

Tags

• LARGE COVERED FRONT PORCH
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• MULTIPLE LIVING SPACES
• GENEROUSLY SIZED KITCHEN
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $153k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.4% in Logan — 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 78/100 on livability (#162 in OH, #2,412 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Logan-Hocking Local (rural): math 55% / reading 58% proficiency, ranked #354 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 163 active listings in the ZIP; 11 units permitted in Hocking County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hocking County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,260 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.03% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (median comp): $176,925
• List price: $158,000
• Delta: -10.70%
• 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
150 Wood St	0.09mi	3/2.0	1,680 (-1%)	6mo	$179,900	$107	85
507 W 2nd St	0.17mi	2/2.0 (-1)	1,668 (-2%)	0mo	$189,000	$113	79
394 Church St	0.17mi	3/2.0	1,558 (-8%)	3mo	$220,000	$141	72
180 North St	0.31mi	3/1.5	1,780 (+5%)	8mo	$188,500	$106	70
447 Church St	0.11mi	3/1.5	1,560 (-8%)	12mo	$170,000	$109	69
597 Warner Ave	0.26mi	3/2.5	1,845 (+8%)	1mo	$290,000	$157	67
235 W Main St	0.28mi	3/1.5	1,496 (-12%)	2mo	$89,000	$59	63
1150 3rd St	0.40mi	3/2.0	1,836 (+8%)	8mo	$98,500	$54	57
250 Midland Pl	0.53mi	3/1.5	1,800 (+6%)	9mo	$235,000	$131	56
1177 Homer St	0.57mi	3/2.0	1,620 (-5%)	7mo	$177,500	$110	56
578 N Market St	0.52mi	3/1.0	1,456 (-14%)	7mo	$240,000	$165	46
298 Midland Pl	0.53mi	3/1.5	1,501 (-12%)	12mo	$205,000	$137	43

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-12,781
• Equity at exit: $23,558

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $5,444
• Equity at exit: $13,661

Cash invested: $44,240 (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 43138

• Home prices YoY: -29.9%
• Active inventory: 163
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$829
• Tax from tax record: −$194 /mo · $2,331/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $201

Break-even live

Break-even rent $1,378

Max offer price $158,000

Occupancy floor 83%

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $158,000 Active 60 DOM
2. 2026-06-18
   price $158,000 Active 59 DOM
3. 2026-06-17
   days on market $168,000 Active 59 DOM
4. 2026-06-16
   days on market $168,000 Active 58 DOM
5. 2026-06-15
   days on market $168,000 Active 57 DOM
6. 2026-06-13
   days on market $168,000 Active 55 DOM
7. 2026-06-13
   days on market $168,000 Active 54 DOM
8. 2026-06-09
   days on market $168,000 Active 51 DOM
9. 2026-06-08
   days on market $168,000 Active 50 DOM
10. 2026-06-07
    days on market $168,000 Active 49 DOM
11. 2026-06-05
    pricedays on market $168,000 Active 46 DOM
12. 2026-06-03
    days on market $169,000 Active 45 DOM
13. 2026-06-02
    days on market $169,000 Active 44 DOM
14. 2026-06-01
    days on market $169,000 Active 43 DOM
15. 2026-05-31
    days on market $169,000 Active 42 DOM
16. 2026-04-21
    price $169,000 819-char remark

    Show marketing remark (819 chars)

    Charming 2-story home located in Logan offering 3 bedrooms and 2 full baths, full of character and ready for your personal touch. Situated on a spacious corner lot, this property features a large covered front porch, original woodwork, and hardwood floors throughout much of the home. The main level offers multiple living spaces including a front living room and an additional family room, along with a dining area and a generously sized kitchen with ample cabinet space. Upstairs you'll find three bedrooms and additional space with potential for customization. This home is being sold as-is and will require repairs and updates, making it a great opportunity for investors, flippers, or buyers. Conveniently located in a quiet neighborhood close to local amenities. Bring your vision and make this property your own!

17. 2026-04-19
    listed $174,000 Active 819-char remark

    Show marketing remark (819 chars)

    Charming 2-story home located in Logan offering 3 bedrooms and 2 full baths, full of character and ready for your personal touch. Situated on a spacious corner lot, this property features a large covered front porch, original woodwork, and hardwood floors throughout much of the home. The main level offers multiple living spaces including a front living room and an additional family room, along with a dining area and a generously sized kitchen with ample cabinet space. Upstairs you'll find three bedrooms and additional space with potential for customization. This home is being sold as-is and will require repairs and updates, making it a great opportunity for investors, flippers, or buyers. Conveniently located in a quiet neighborhood close to local amenities. Bring your vision and make this property your own!

18. 2021-06-17
    soldstatus $140,000
19. 2021-06-17
    listed $140,000

ⓘ 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: $2,331 · $194/mo
• Projected year-2 tax: $2,398 · $200/mo
• Expected delta: +$67/yr (+$6/mo · 2.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 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: $19,589
• − Mortgage interest: −$8,850
• − Property taxes: −$2,331
• − Insurance: −$790
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$4,596
• Taxable loss: −$113
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $2,439/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: Logan-Hocking Local
• NCES district ID: 3904424
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $42,737
• Composite: 47.48/100
• National rank: #2276
• State rank: #354 of 656 in OH

Livability — Logan

• Score: 78/100
• State rank: #162
• US rank: #2412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logan, OH
• County: Hocking · 26,658 people
• Metro: Columbus, OH
• Population (ZIP): 19,147
• Household income: $65,028
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 13.8

Population outlook (Hocking County) Hauer SSP2

• Today (2025): 26,807 people
• By 2030: 25,723 · -4.0%
• By 2040: 23,370 · -12.8%
• By 2050: 20,947 · -21.9%
• By 2075: 15,624 · -41.7%
• By 2100: 11,134 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hocking

• 2024 margin: Solid R (+44.3) · D 27.5% · R 71.8%
• 2008→2024 swing: -43.5pp toward R · 2008: -0.8pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+42.4 2016: R+36.5 2012: R+1.1 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.44%
• Current HPI: 253.6737
• 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

+20.7% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $169,000 CBRMLS
• 2026-04-19 Listed $174,000 CBRMLS
• 2021-06-17 Listed $140,000 CBRMLS
• 2021-06-17 Sold (MLS) $140,000 CBRMLS

Property tax history

+9.5%/yr

Latest (2025): $2,331 · +31.5% YoY. Source: county tax records.