924 Third St · Logan, OH 43138

$32,798

1 bd · 1.0 ba · 1,860 sqft · SingleFamily public records · 15 Days on market

Built 1900 5,663 sqft lot

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Court Ordered Sale by Private Selling Officer. Auction ends on May 27, 2026. All information we have on the property is included. We have no additional information, property condition is unknown. NO SHOWINGS, NO trespassing for any reason. Information is thought to be correct but not guaranteed. 10% Buyer Premium added to the high bid, $5,000 deposit is due within 24 hours of bidding end.

Key facts

• 5,663 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Home design: Single-family residence; One story
• Construction: Vinyl siding construction; Asphalt shingle roof
• Exterior features: Asphalt shingle roof; Vinyl siding

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Total of 4 rooms

🔨 Auction listing. The $32,798 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $210,180 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $32k (1.5% below list) — sets the bar for market timing.
• Cap rate 4.3% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 15 days — a 2% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 9.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,306 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 4.33%
• Cash-on-cash: -7.00%
• DSCR: 0.69
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $210,180
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 W 2nd St	0.39mi	2/2.0 (+1)	1,668 (-10%)	0mo	$189,000	$113	56
324 N Spring St	0.56mi	2/2.0 (+1)	1,710 (-8%)	22mo	$183,000	$107	33

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: -28.4%
• Equity multiple: 0.05×
• Total profit: $-55,891
• Equity at exit: $31,339

10-year hold

• IRR: -27.7%
• Equity multiple: -0.30×
• Total profit: $-76,724
• Equity at exit: $18,173

Cash invested: $58,850 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$1,102
• Tax est. 1.5%: −$263 /mo · $3,153/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-343

Break-even live

Break-even rent $1,839

Max offer price $160,528

Occupancy floor —

Sensitivity live

Price	-10% $-198	-5% $-271	+0% $-343	+5% $-416	+10% $-488
Rent	-10% $-454	-5% $-399	+0% $-343	+5% $-288	+10% $-232
Rate	-1.0pp $-237	-0.5pp $-290	base $-343	+0.5pp $-398	+1.0pp $-453

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: $52,545
• Closing costs: $6,305
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   status $32,798 Pending 15 DOM
2. 2026-06-18
   days on market $32,798 Active 15 DOM
3. 2026-06-17
   days on market $32,798 Active 14 DOM
4. 2026-06-16
   days on market $32,798 Active 13 DOM
5. 2026-06-15
   days on market $32,798 Active 12 DOM
6. 2026-06-13
   days on market $32,798 Active 10 DOM
7. 2026-06-13
   days on market $32,798 Active 9 DOM
8. 2026-06-09
   days on market $32,798 Active 6 DOM
9. 2026-06-08
   days on market $32,798 Active 5 DOM
10. 2026-06-07
    days on market $32,798 Active 4 DOM
11. 2026-06-05
    remarks 391-char remark
12. 2026-06-05
    listed $32,798 Active 1 DOM

ⓘ 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 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: $16,851
• − Mortgage interest: −$11,773
• − Property taxes: −$3,153
• − Insurance: −$1,051
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$6,114
• Taxable loss: −$7,936
• Est. tax savings @ 24.0%: +$1,905
• After-tax cash flow: $-2,213/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

-60.0% since first listed

2 events — show timeline

• 2026-06-03 Listed $32,798 ACBOR
• 2006-04-11 Sold (Public Records) $82,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,835 · +27.6% YoY. Source: county tax records.