205 S Illinois Ave · Wellston, OH 45692

$99,500

4 bd · 3.0 ba · 2,856 sqft · MultiFamily public records · 30 Days on market

Built 1900

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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
• Appreciation +3.5/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity. This could be a great investment set up as a Tr-Plex rental. Needs finished inside and you need to finish installing the metal roof but has loads of potential if you're looking to get into the rental business. The seller has started rehab but doesn't have the time to finish. So here is your opportunity to have a rental that could be a good one once finished. Call for further details.

Key facts

• Off street parking
• Individually metered
• On street parking

Tags

• CORNER LOT
• INDIVIDUALLY METERED
• UPDATED WATER HEATERS
• ON STREET PARKING
• OFF STREET PARKING
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Exterior

• Parking: Parking available
• Utilities: Public water; Public sewer; 200+ amp electrical service
• Home design: Multi-family residential income property
• Construction: Vinyl siding
• Exterior features: Asphalt and metal roofing

Interior

• Heating & cooling: No central heating; No central cooling
• Interior features: Double-pane windows; Partial basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.2% vs local median 3.2% in Wellston — 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 67/100 on livability (#606 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, amenities F.
• Wellston City (rural): math 38% / reading 47% proficiency, ranked #532 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 32 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• At $2,486/mo this rent would consume 57% of the median local household income ($52k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected at -22% 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $20k; list at $100k implies a 398% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $98,007 (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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.50% ✓
• Cap rate: 22.18%
• Cash-on-cash: 56.73%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 55.2%
• Equity multiple: 3.43×
• Total profit: $67,770
• Equity at exit: $14,836

10-year hold

• IRR: 60.2%
• Equity multiple: 7.00×
• Total profit: $167,075
• Equity at exit: $8,603

Cash invested: $27,860 (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 45692

• Home prices YoY: -1.4%
• Active inventory: 50
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,486 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $1,317

Break-even live

Break-even rent $819

Max offer price $99,500

Occupancy floor 42%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,487
Total (3 units)			$2,486

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $99,500 Active 30 DOM
2. 2026-06-17
   days on market $99,500 Active 29 DOM
3. 2026-06-16
   days on market $99,500 Active 28 DOM
4. 2026-06-15
   days on market $99,500 Active 27 DOM
5. 2026-06-13
   days on market $99,500 Active 25 DOM
6. 2026-06-12
   days on market $99,500 Active 24 DOM
7. 2026-06-09
   days on market $99,500 Active 21 DOM
8. 2026-06-08
   days on market $99,500 Active 20 DOM
9. 2026-06-08
   days on market $99,500 Active 19 DOM
10. 2026-06-07
    days on market $99,500 Active 18 DOM
11. 2026-06-04
    days on market $99,500 Active 15 DOM
12. 2026-06-02
    days on market $99,500 Active 14 DOM
13. 2026-06-01
    days on market $99,500 Active 13 DOM
14. 2026-05-31
    days on market $99,500 Active 12 DOM
15. 2026-05-19
    listed $99,500 Active
16. 2021-08-30
    soldstatus $20,000
17. 2021-08-16
    soldstatus $20,000 410-char remark

    Show marketing remark (410 chars)

    Investment opportunity. This could be a great investment set up as a Tr-Plex rental. Needs finished inside and you need to finish installing the metal roof but has loads of potential if you're looking to get into the rental business. The seller has started rehab but doesn't have the time to finish. So here is your opportunity to have a rental that could be a good one once finished. Call for further details.

18. 2021-05-13
    listed $25,500 410-char remark

    Show marketing remark (410 chars)

    Investment opportunity. This could be a great investment set up as a Tr-Plex rental. Needs finished inside and you need to finish installing the metal roof but has loads of potential if you're looking to get into the rental business. The seller has started rehab but doesn't have the time to finish. So here is your opportunity to have a rental that could be a good one once finished. Call for further details.

19. 2014-01-31
    soldstatus $23,000
20. 1999-04-12
    soldstatus $75,000

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $1,278 · $107/mo
• Expected delta: +$274/yr (+$23/mo · 27.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,832
• − Mortgage interest: −$5,574
• − Property taxes: −$1,004
• − Insurance: −$498
• − Repairs & maintenance: −$2,387
• − Management: −$2,387
• − Depreciation: −$2,895
• Taxable income: $15,089
• Est. tax owed @ 24.0%: −$3,621
• After-tax cash flow: $12,183/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: Wellston City
• NCES district ID: 3904502
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 47% ▼ -10.00%
• Median HH income: $35,982
• Composite: 35.2/100
• National rank: #4991
• State rank: #532 of 656 in OH

Livability — Wellston

• Score: 67/100
• State rank: #606
• US rank: #10407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellston, OH
• County: Jackson · 32,540 people
• City population: 7,699
• Population (ZIP): 7,699
• Household income: $52,449
• Rent vs Own: 30.4% rent · 69.6% own

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 30,794 people
• By 2030: 29,535 · -4.1%
• By 2040: 26,757 · -13.1%
• By 2050: 23,897 · -22.4%
• By 2075: 17,115 · -44.4%
• By 2100: 10,908 · -64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.1) · D 20.7% · R 78.8%
• 2008→2024 swing: -37.9pp toward R · 2008: -20.2pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+54.1 2016: R+48.9 2012: R+20.8 2008: R+20.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.09%
• Current HPI: 219.2619
• 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

+32.7% since first listed

6 events — show timeline

• 2026-05-19 Listed $99,500 SVAR
• 2021-08-30 Sold (Public Records) $20,000 Public Records
• 2021-08-16 Sold (MLS) $20,000 SVAR
• 2021-05-13 Listed $25,500 SVAR
• 2014-01-31 Sold (Public Records) $23,000 Public Records
• 1999-04-12 Sold (Public Records) $75,000 Public Records

Property tax history

-4.7%/yr

Latest (2025): $1,004 · +4.1% YoY. Source: county tax records.