146 E 1st St · Mansfield, OH 44902

$40,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 12 Days on market

Built 1910 5,227 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
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you're looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

Key facts

• 5,227 sq ft lot
• Built 1910
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 21.1% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $3k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts; this cycle's ask is 14% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $10k; list at $40k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1910 — 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. 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?
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: 2.51% ✓
• Cap rate: 21.15%
• Cash-on-cash: 53.04%
• DSCR: 3.36
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $84,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 E 1st St	0.00mi	3/1.5	1,112 (0%)	1mo	$41,000	$37	98
183 E First St	0.08mi	3/1.0	1,176 (+6%)	3mo	$89,900	$76	84
273 Hammond Ave	0.40mi	3/1.0	1,092 (-2%)	3mo	$134,900	$124	76
130 E Arch St	0.13mi	4/1.0 (+1)	1,176 (+6%)	6mo	$72,500	$62	74
209 Second	0.17mi	2/1.0 (-1)	1,212 (+9%)	5mo	$60,000	$50	68
260 Dale Ave	0.41mi	3/1.0	1,008 (-9%)	2mo	$65,000	$64	63
151 Ohio St	0.65mi	2/1.0 (-1)	1,126 (+1%)	5mo	$68,000	$60	59
323 E 1st St	0.34mi	2/1.0 (-1)	984 (-12%)	3mo	$148,000	$150	58
96 Glenwood Hts	0.53mi	2/1.0 (-1)	1,040 (-6%)	6mo	$95,000	$91	54
410 Birdcage Walk	0.64mi	3/1.0	992 (-11%)	0mo	$90,000	$91	52
319 Altamont Ave	0.44mi	2/1.0 (-1)	1,225 (+10%)	7mo	$65,000	$53	51
133 Grover Ave	0.72mi	3/1.5	1,232 (+11%)	5mo	$145,000	$118	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 64.4%
• Equity multiple: 5.39×
• Total profit: $49,201
• Equity at exit: $31,626

10-year hold

• IRR: 59.3%
• Equity multiple: 11.67×
• Total profit: $119,464
• Equity at exit: $63,997

Cash invested: $11,200 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,005 high
• Mortgage (P&I): −$210
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $495

Break-even live

Break-even rent $379

Max offer price $40,000

Occupancy floor 46%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Ford St Mansfield, OH	3.0	1.5	1286	$995	$0.77	43d	1	0.51mi
243 W 1st St Mansfield, OH	4.0	1.0	1470	$1,195	$0.81	43d	1	0.72mi
19 State St Mansfield, OH	3.0	1.0	1040	$995	$0.96	43d	1	0.86mi
100 Winwood Dr Mansfield, OH	2.0	1.0	700	$725	$1.04	43d	1	1.14mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	43d	1	1.27mi
275 Cliffbrook Dr Mansfield, OH	2.0	1.5	1200	$925	$0.77	43d	1	1.27mi
282 Cliffbrook Dr Mansfield, OH	3.0	1.0	912	$1,395	$1.53	43d	1	1.30mi
454 Parnell Dr Mansfield, OH	2.0	1.0	757	$795	$1.05	43d	1	1.45mi

Listing history 16 events

1. 2026-04-21
   status Pending 437-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

2. 2026-04-21
   status Pending 443-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

3. 2026-04-21
   status Pending

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

4. 2026-04-16
   price $40,000 437-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

5. 2026-04-16
   price $40,000 443-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

6. 2026-04-16
   price $40,000

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

7. 2026-04-16
   status Active 437-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

8. 2026-04-16
   status Active 443-char remark

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

9. 2026-04-16
   status Active

   Show marketing remark (443 chars)

   3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

10. 2026-02-09
    status Pending 437-char remark

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

11. 2026-02-09
    status Pending 443-char remark

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

12. 2026-02-09
    status Pending

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

13. 2026-02-02
    listed $35,000 Active 437-char remark

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

14. 2026-02-02
    listed $35,000 Active 443-char remark

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

15. 2026-02-02
    listed $35,000 Active

    Show marketing remark (443 chars)

    3-Bedroom Investment Opportunity in Mansfield This 3-bedroom, 1.5-bath home is being offered CASH ONLY and sold as-is, where-is. Whether you’re looking for a first investment property, an addition to your portfolio, or a potential flip project, this home may be worth a look. Bring your imagination and a flashlight! There is a land contract that needs to be released prior to closing. PLEASE ALLOW 48 HOURS for response to any offers

16. 1992-07-30
    soldstatus $10,200

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $872 · $73/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 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $12,063
• − Mortgage interest: −$2,241
• − Property taxes: −$872
• − Insurance: −$200
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$1,164
• Taxable income: $5,657
• Est. tax owed @ 24.0%: −$1,358
• After-tax cash flow: $4,583/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: 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

+292.2% since first listed

16 events — show timeline

• 2026-04-21 Pending — MARMLS
• 2026-04-21 Pending — MLSNOW
• 2026-04-21 Pending — CBRMLS
• 2026-04-16 Price Changed $40,000 MARMLS
• 2026-04-16 Price Changed $40,000 MLSNOW
• 2026-04-16 Price Changed $40,000 CBRMLS
• 2026-04-16 Relisted — MARMLS
• 2026-04-16 Relisted — MLSNOW
• 2026-04-16 Relisted — CBRMLS
• 2026-02-09 Pending — MARMLS
• 2026-02-09 Pending — MLSNOW
• 2026-02-09 Pending — CBRMLS
• 2026-02-02 Listed $35,000 MARMLS
• 2026-02-02 Listed $35,000 CBRMLS
• 2026-02-02 Listed $35,000 MLSNOW
• 1992-07-30 Sold (Public Records) $10,200 Public Records

Property tax history

+3.7%/yr

Latest (2025): $872 · +0.0% YoY. Source: county tax records.