451 West St · Logan, OH 43138

$145,000

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 6 Days on market

Built 1920 4,791 sqft lot Est $158k · 8% 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 +23.4/30.0
• ARV discount +11.1/15.0
• DSCR +7.5/10.0
• 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

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Additional parcel referenced: 04-001628.0000

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1920
• Construction: Poured and stone foundation
• Exterior features: Patio; Shed(s); No shared/common walls

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Full cellar basement; Living area approximately 928

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Cap rate 8.5% 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 $4k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $145k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1920 — 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 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?
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: 1.03% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $157,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1030 3rd St	0.22mi	3/1.0	900 (-3%)	2mo	$153,000	$170	83
835 Mckinley St	0.10mi	3/2.0	960 (+3%)	7mo	$176,000	$183	80
171 West St	0.17mi	2/1.0 (-1)	974 (+5%)	2mo	$143,500	$147	77
663 West St	0.11mi	3/1.0	938 (+1%)	20mo	$160,000	$171	76
631 Jefferson St	0.12mi	3/2.0	960 (+3%)	10mo	$189,900	$198	76
226 W Front St	0.55mi	2/1.0 (-1)	915 (-1%)	3mo	$60,000	$66	65
1293 4th St	0.40mi	4/1.0 (+1)	840 (-10%)	4mo	$129,000	$154	57
242 Weis St	0.57mi	3/1.0	960 (+3%)	13mo	$200,000	$208	57
1094 Homer St	0.53mi	3/1.0	908 (-2%)	22mo	$175,000	$193	53
137 Fountain St	0.34mi	3/1.0	825 (-11%)	15mo	$138,500	$168	53
920 Charles St	0.56mi	2/1.0 (-1)	816 (-12%)	1mo	$77,500	$95	48
969 Adams Ave	0.73mi	2/1.0 (-1)	1,008 (+9%)	14mo	$150,000	$149	35

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,536
• Equity at exit: $21,620

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $16,050
• Equity at exit: $12,537

Cash invested: $40,600 (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: $1,488 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $267

Break-even live

Break-even rent $1,150

Max offer price $145,000

Occupancy floor 77%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-16
   status $145,000 Pending 6 DOM
2. 2026-06-15
   days on market $145,000 Active 6 DOM
3. 2026-06-13
   days on market $145,000 Active 4 DOM
4. 2026-06-13
   days on market $145,000 Active 3 DOM
5. 2026-06-09
   status $145,000 Active 1 DOM
6. 2026-06-08
   listed $145,000 Coming Soon 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: $1,055 · $88/mo
• Projected year-2 tax: $1,658 · $138/mo
• Expected delta: +$604/yr (+$50/mo · 57.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $17,856
• − Mortgage interest: −$8,122
• − Property taxes: −$1,055
• − Insurance: −$725
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$4,218
• Taxable income: $879
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $2,991/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

+202.1% since first listed

2 events — show timeline

• 2026-06-08 Coming Soon $145,000 CBRMLS
• 2001-07-27 Sold (Public Records) $48,000 Public Records

Property tax history

+16.1%/yr

Latest (2025): $1,055 · +30.0% YoY. Source: county tax records.