377 S Main St · Mansfield, OH 44902

$210,000

6 bd · 3.0 ba · 2,688 sqft · MultiFamily · 27 Days on market

Built 1900 Good condition 3,589 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 +28.1/30.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Investment opportunity in Mansfield, Ohio! This triplex offers versatility for investors or owner-occupants looking to generate rental income. Unit 377 features a spacious main and upper-level layout with living room, dining room, kitchen with stove and refrigerator provided, washer and dryer included, plus 2 bedrooms, full bath, and bonus room ideal for a third bedroom, office, or nursery. Covered front porch and rear gravel parking included. Unit 377 1/2 offers a private side entrance leading to an updated upper-level apartment with open concept living space, 1 bedroom, 1 full bath, and kitchen equipped with stove/oven and refrigerator. Unit 3 mirrors the layout of Unit 1 and currently ha

Key facts

• Basement access
• Covered porches
• 3,589 sq ft lot

Tags

• PRIVATE SIDE ENTRANCE
• UPDATED UPPER-LEVEL APARTMENT
• OPEN CONCEPT LIVING SPACE
• BASEMENT ACCESS
• COVERED PORCHES

Property features AI

Exterior

• Parking: Gravel parking and on-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family); 3 total stories; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Gravel parking; On-street parking

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: One 1-bedroom unit; Two 3-bedroom units
• Bathrooms: One bathroom in the 1-bedroom unit; One bathroom in each 3-bedroom unit
• Heating & cooling: Forced air heating
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.2% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• At $2,673/mo this rent would consume 101% of the median local household income ($32k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (8.4% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $206,850 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 3.29×
• Total profit: $134,717
• Equity at exit: $166,039

10-year hold

• IRR: 27.7%
• Equity multiple: 7.12×
• Total profit: $360,110
• Equity at exit: $335,982

Cash invested: $58,800 (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 44902

• Home prices YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $660

Break-even live

Break-even rent $1,837

Max offer price $210,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,673
Total (3 units)			$2,673

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $210,000 Active 27 DOM
2. 2026-06-18
   days on market $210,000 Active 26 DOM
3. 2026-06-17
   days on market $210,000 Active 25 DOM
4. 2026-06-16
   days on market $210,000 Active 24 DOM
5. 2026-06-15
   days on market $210,000 Active 23 DOM
6. 2026-06-14
   days on market $210,000 Active 21 DOM
7. 2026-06-12
   days on market $210,000 Active 20 DOM
8. 2026-06-09
   days on market $210,000 Active 17 DOM
9. 2026-06-08
   days on market $210,000 Active 16 DOM
10. 2026-06-07
    days on market $210,000 Active 15 DOM
11. 2026-06-05
    days on market $210,000 Active 12 DOM
12. 2026-06-03
    days on market $210,000 Active 11 DOM
13. 2026-06-02
    days on market $210,000 Active 10 DOM
14. 2026-06-01
    days on market $210,000 Active 9 DOM
15. 2026-05-31
    days on market $210,000 Active 8 DOM
16. 2026-05-30
    days on market $210,000 Active 7 DOM
17. 2026-05-20
    listed $199,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,076
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$6,109
• Taxable income: $4,871
• Est. tax owed @ 24.0%: −$1,169
• After-tax cash flow: $6,756/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This triplex in Mansfield, Ohio is in good condition with a good condition score of 75. It offers a good investment opportunity with potential for cosmetic updates to increase its resale and rental value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value.
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases rental value.
• Both Update kitchen appliances — Modernizes the kitchen and attracts more buyers/renters.
• Both Install new windows — Improves energy efficiency and enhances curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases rental value. ↑
• Both Update kitchen appliances — Modernizes the kitchen and attracts more buyers/renters. ↑
• Both Install new windows — Improves energy efficiency and enhances curb appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 4,876
• Household income: $31,619
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 13.2

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Italian 2% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.45%
• Current HPI: 302.035
• 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

1 event — show timeline

• 2026-05-20 Listed $199,000 MARMLS