655 W Main St · Newark, OH 43055

$80,000

3 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 4 Days on market

Built 1900 3,049 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss your chance to own this spacious 3-bedroom, 2-bath home at 655 W. Main Street in Newark. This home is full of character, this 1,504 sq. ft. home offers a large, functional layout with a full unfinished basement, central air, and a 2-car detached garage. One full bath on each level keeps the layout convenient for families or guests. Priced strategically to attract multiple offers and sell fast -- this one won't sit. Offered as-is. Refrigerator and stove convey with the property. The home's contents are currently being liquidated through an online-only auction, Washer Dryer Combo are part of the online auction. Any items remaining on the premises at closing will convey with the pro

Key facts

• 3,049 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Probate listing

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two stories; Built in 1900; No common walls
• Exterior features: Block and stone foundation

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full walk-up basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 14.7% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $80,000

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: 1.77% ✓
• Cap rate: 14.74%
• Cash-on-cash: 30.16%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $218,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
655 W Main St	0.00mi	3/2.0	1,504 (0%)	0mo	$106,000	$70	100
148 N 21st St	0.30mi	3/1.5	1,447 (-4%)	1mo	$269,900	$187	77
31 S 23rd St	0.35mi	2/2.0 (-1)	1,460 (-3%)	4mo	$165,000	$113	70
46 N 21st St	0.17mi	3/1.5	1,360 (-10%)	6mo	$235,000	$173	69
188 Neal Ave	0.33mi	4/2.5 (+1)	1,456 (-3%)	6mo	$247,500	$170	67
180 Neal Ave	0.31mi	3/1.5	1,382 (-8%)	6mo	$168,000	$122	65
191 Neal Ave	0.34mi	3/2.0	1,344 (-11%)	5mo	$210,000	$156	62
145 Neal Ave	0.26mi	3/1.0	1,320 (-12%)	6mo	$192,000	$145	59
233 Wilson St	0.69mi	3/2.0	1,464 (-3%)	6mo	$195,000	$133	59
245 Jefferson St	0.51mi	3/1.5	1,390 (-8%)	5mo	$172,000	$124	57
42 Burt Ave	0.39mi	2/1.5 (-1)	1,388 (-8%)	6mo	$149,900	$108	57
889 Dietrich Ct	0.73mi	3/2.5	1,693 (+13%)	0mo	$315,000	$186	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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 1.94×
• Total profit: $20,984
• Equity at exit: $11,928

10-year hold

• IRR: 30.3%
• Equity multiple: 3.54×
• Total profit: $56,837
• Equity at exit: $6,917

Cash invested: $22,400 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$420
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $563

Break-even live

Break-even rent $706

Max offer price $80,000

Occupancy floor 55%

Sensitivity live

Price	-10% $608	-5% $586	+0% $563	+5% $540	+10% $518
Rent	-10% $451	-5% $507	+0% $563	+5% $619	+10% $675
Rate	-1.0pp $603	-0.5pp $583	base $563	+0.5pp $542	+1.0pp $521

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 N Fulton Ave Newark, OH	4.0	1.0	1616	$1,525	$0.94	24d	1	0.21mi
308 Wilson St Newark, OH	4.0	1.0	1508	$1,400	$0.93	24d	1	0.54mi
374 Seroco Ave Newark, OH	2.0	1.0	1100	$1,100	$1.00	11d	1	0.77mi
73 N 9th St Unit 73 Newark, OH	2.0	1.0	1250	$950	$0.76	24d	1	0.79mi
8 N 8th St Unit 2 Newark, OH	3.0	1.0	1400	$1,400	$1.00	24d	1	0.86mi
33 Jefferson St Newark, OH	2.0	1.0	1200	$1,300	$1.08	12d	1	0.92mi
120 S 32nd St Newark, OH	2.0	1.0	1100	$2,900	$2.64	4d	1	1.05mi
71 W Locust St Newark, OH	2.0	1.0	1371	$1,225	$0.89	24d	1	1.19mi
1200 Hollar Ln Newark, OH	2.0	1.0	1156	$1,550	$1.34	20d	1	1.20mi
86 Wilwood Ave Newark, OH	3.0	1.0	1205	$1,595	$1.32	2d	1	1.20mi
63 N 4th St Newark, OH	3.0	1.0	1300	$1,350	$1.04	3d	1	1.24mi
63 N 4th St Unit 302 Newark, OH	3.0	1.0	1300	$1,350	$1.04	5d	1	1.24mi
53 Swainford Dr Heath, OH	3.0	2.0	1817	$2,000	$1.10	2d	1	1.48mi

Listing history 4 events

1. 2026-06-08
   statusdays on market $80,000 Pending 4 DOM
2. 2026-06-07
   days on market $80,000 Active 3 DOM
3. 2026-06-05
   remarks 699-char remark
4. 2026-06-05
   listed $80,000 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,022
• − Mortgage interest: −$4,481
• − Property taxes: −$1,258
• − Insurance: −$400
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,327
• Taxable income: $5,832
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $5,355/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: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

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: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, OH
• 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

1 event — show timeline

• 2026-06-04 Listed $80,000 CBRMLS

Property tax history

+5.4%/yr

Latest (2025): $1,258 · +1.6% YoY. Source: county tax records.