529 S Boston St · Galion, OH 44833

$188,000

16 bd · None ba · 2,232 sqft · MultiFamily public records · 35 Days on market

Built 1900 0.30 ac 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
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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 MLS

Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. • The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. • Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. • Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. • The Location: Ideally situated in a quiet Galion neighborhood close to Avita & local amenities, making it a high-demand spot for renters. With the 2026 Galion market showing strong appreciation and tight rental inventory, this asset is positioned to perform from Day 1. High-efficiency utilities (tenant-paid gas/electric) and low vacancy history make this a "set it and forget it" investment.

Key facts

• Shared yard
• 0.3 acre lot
• Built 1900

Tags

• 4 UNIT INCOME PROPERTY
• SHARED YARD
• QUIET GALION NEIGHBORHOOD
• HIGH EFFICIENCY UTILITIES

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $188k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $309/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Recommended offer: $182k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 4.8% in Galion — 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 63/100 on livability (#833 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Galion City (town): math 36% / reading 56% proficiency, ranked #499 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 76 active listings in the ZIP; 8 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• At $3,096/mo this rent would consume 65% of the median local household income ($57k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Crawford 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 $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $182,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.65% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.21%
• DSCR: 2.26
• GRM: 5.1

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: 22.4%
• Equity multiple: 1.92×
• Total profit: $48,346
• Equity at exit: $28,031

10-year hold

• IRR: 30.4%
• Equity multiple: 3.73×
• Total profit: $143,553
• Equity at exit: $16,255

Cash invested: $52,640 (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 44833

• Home prices YoY: -27.9%
• Active inventory: 76
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $3,096 medium
• Mortgage (P&I): −$986
• Tax from tax record: −$144 /mo · $1,729/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $1,238

Break-even live

Break-even rent $1,530

Max offer price $188,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,344	-5% $1,291	+0% $1,238	+5% $1,184	+10% $1,131
Rent	-10% $993	-5% $1,115	+0% $1,238	+5% $1,360	+10% $1,482
Rate	-1.0pp $1,332	-0.5pp $1,285	base $1,238	+0.5pp $1,189	+1.0pp $1,139

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,096
Total (4 units)			$3,096

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-04-23
   status Pending 1232-char remark

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

2. 2026-04-23
   status Pending 946-char remark

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

3. 2026-04-23
   status Pending

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

4. 2026-04-03
   price $188,000 946-char remark

   Show marketing remark (1232 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. • The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. • Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. • Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. • The Location: Ideally situated in a quiet Galion neighborhood close to Avita & local amenities, making it a high-demand spot for renters. With the 2026 Galion market showing strong appreciation and tight rental inventory, this asset is positioned to perform from Day 1. High-efficiency utilities (tenant-paid gas/electric) and low vacancy history make this a "set it and forget it" investment.

5. 2026-04-03
   price $188,000 1232-char remark

   Show marketing remark (1232 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. • The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. • Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. • Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. • The Location: Ideally situated in a quiet Galion neighborhood close to Avita & local amenities, making it a high-demand spot for renters. With the 2026 Galion market showing strong appreciation and tight rental inventory, this asset is positioned to perform from Day 1. High-efficiency utilities (tenant-paid gas/electric) and low vacancy history make this a "set it and forget it" investment.

6. 2026-04-03
   price $188,000

   Show marketing remark (1232 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. • The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. • Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. • Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. • The Location: Ideally situated in a quiet Galion neighborhood close to Avita & local amenities, making it a high-demand spot for renters. With the 2026 Galion market showing strong appreciation and tight rental inventory, this asset is positioned to perform from Day 1. High-efficiency utilities (tenant-paid gas/electric) and low vacancy history make this a "set it and forget it" investment.

7. 2026-03-19
   listed $198,000 Active 1232-char remark

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

8. 2026-03-19
   listed $198,000 Active 946-char remark

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

9. 2026-03-19
   listed $198,000 Active

   Show marketing remark (946 chars)

   Turn-Key 4-Unit Quadruplex – Fully Occupied with Reliable Cash Flow Stop looking for your next portfolio addition—this is it. Located at 529 S Boston St, this well-maintained 4-unit income property offers the rare combination of immediate stability and long-term value. The Setup: Four spacious 1-bedroom, 1-bathroom units, each thoughtfully designed to maximize space and tenant comfort. Occupancy: 100% occupied by a roster of "great tenants" who take pride in their homes. Say goodbye to the headache of immediate vacancies or renovations. Maintenance: This isn't a "fixer-upper. " The property has been meticulously cared for, featuring consistent updates like vinyl siding, a shared yard for tenant enjoyment, and recent interior refreshes in select units. The Location: Ideally situated in a quiet Galion neighborhood close to Avita Hospital & local amenities, making it a high-demand spot for renters.

10. 2024-02-23
    soldstatus $170,000
11. 2024-02-09
    historical
12. 2024-02-09
    soldstatus $152,000 Closed
13. 2024-01-07
    historical $525
14. 2023-11-16
    listed $525
15. 2023-09-21
    price $179,900
16. 2023-09-12
    listed $189,900 Active
17. 2022-05-12
    price $525
18. 2021-06-18
    soldstatus $85,100
19. 2021-06-07
    soldstatus $85,100
20. 2021-05-20
    listed $79,000

ⓘ 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: $1,729 · $144/mo
• Projected year-2 tax: $2,331 · $194/mo
• Expected delta: +$602/yr (+$50/mo · 34.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $37,152
• − Mortgage interest: −$10,531
• − Property taxes: −$1,729
• − Insurance: −$940
• − Repairs & maintenance: −$2,972
• − Management: −$2,972
• − Depreciation: −$5,469
• Taxable income: $12,539
• Est. tax owed @ 24.0%: −$3,009
• After-tax cash flow: $11,841/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: Galion City
• NCES district ID: 3904402
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $36,331
• Composite: 38.08/100
• National rank: #4279
• State rank: #499 of 656 in OH

Livability — Galion

• Score: 63/100
• State rank: #833
• US rank: #15587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galion, OH
• County: Morrow · 41,908 people
• City population: 16,641
• Metro: Columbus, OH
• Population (ZIP): 16,641
• Household income: $57,234
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 3.8

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,421 people
• By 2030: 37,656 · -4.5%
• By 2040: 34,043 · -13.6%
• By 2050: 30,617 · -22.3%
• By 2075: 23,652 · -40.0%
• By 2100: 17,786 · -54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+53.0) · D 23.1% · R 76.1%
• 2008→2024 swing: -33.9pp toward R · 2008: -19.0pp · 2024: -53.0pp
• All cycles: 2024: R+53.0 2020: R+50.9 2016: R+46.8 2012: R+22.7 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.57%
• Current HPI: 218.195
• 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

+138.0% since first listed

20 events — show timeline

• 2026-04-23 Pending — MLSNOW
• 2026-04-23 Pending — MARMLS
• 2026-04-23 Pending — CBRMLS
• 2026-04-03 Price Changed $188,000 MARMLS
• 2026-04-03 Price Changed $188,000 MLSNOW
• 2026-04-03 Price Changed $188,000 CBRMLS
• 2026-03-19 Listed $198,000 CBRMLS
• 2026-03-19 Listed $198,000 MARMLS
• 2026-03-19 Listed $198,000 MLSNOW
• 2024-02-23 Sold (Public Records) $170,000 Public Records
• 2024-02-09 Delisted — MARMLS
• 2024-02-09 Sold (MLS) $152,000 MARMLS
• 2024-01-07 Rental Removed $525 APPFOLIO
• 2023-11-16 Listed for Rent $525 APPFOLIO
• 2023-09-21 Price Changed $179,900 MARMLS
• 2023-09-12 Listed $189,900 MARMLS
• 2022-05-12 Price Changed $525 APPFOLIO
• 2021-06-18 Sold (Public Records) $85,100 Public Records
• 2021-06-07 Sold (MLS) $85,100 MARMLS
• 2021-05-20 Listed $79,000 MARMLS

Property tax history

+4.5%/yr

Latest (2025): $1,729 · +0.7% YoY. Source: county tax records.