328 W Church St Unit 328-330 Church · Urbana, OH 43078

$220,000

4 bd · None ba · 3,125 sqft · MultiFamily · 131 Days on market

Built 1900 Fair condition 7,405 sqft lot $70/sqft · 18% above area Est $187k · 18% over ↓ 4% since listing

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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 +29.9/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.4/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Historic Duplex with Income Potential in Urbana! Well-maintained duplex offering historic character and investment flexibility, located along a classic brick sidewalk and rooted in Urbana's rich history. 328 Side features 4 bedrooms, 2 full baths, and three full floors of living space. This unit is currently occupied. 330 Side includes 2 bedrooms and 1 full bath, is tenant-occupied, and operates with gas and electric, providing steady rental income. Conveniently located steps from the bike trail and Depot Coffee Shop, and just three blocks from downtown Urbana, offering easy access to local amenities and community attractions. All major mechanicals were updated in 2022. Gross rental income is approximately $2,500 per month. Owner currently pays water and trash. Property is priced to support day-one cash flow based on current rents and operating structure. Ideal for investors or owner-occupants seeking rental income with long-term potential. Tenant-occupied units--please do not disturb tenants. Showings by appointment only. Seller is motivated! Ready to make a deal! Agent is related to the seller.

Key facts

• Bike trail access
• Historic character
• 7,405 sq ft lot

Tags

• HISTORIC CHARACTER
• BIKE TRAIL ACCESS
• MAJOR MECHANICALS UPDATED

What this means for you Summary

Snapshot

• This is a 1×4bd/2ba + 1×2bd/1ba units multifamily listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive. Per door: $176/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.3% in Urbana — 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 71/100 on livability (#404 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Urbana City (town): math 43% / reading 45% proficiency, ranked #509 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Urbana Elementary School (math 46% / reading 48%, grade D-, #942 of 1,584 statewide, top 61%, 871 students, 56% FRL); Urbana Junior High School (math 41% / reading 38%, grade F, #519 of 654 statewide, top 80%, 433 students, 50% FRL); Urbana High School (math 42% / reading 57%, grade D, #390 of 781 statewide, top 54%, 550 students, 47% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 91 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).
• At $2,954/mo this rent would consume 49% of the median local household income ($72k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 1.34% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.84%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $186,666
• List price: $220,000
• Delta: 17.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 S Main St	0.48mi	3/— (-1)	2,716 (-13%)	3mo	$200,000	$74	48

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 3.32×
• Total profit: $142,620
• Equity at exit: $198,193

10-year hold

• IRR: 25.5%
• Equity multiple: 7.54×
• Total profit: $402,970
• Equity at exit: $427,412

Cash invested: $61,600 (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 43078

• Home prices YoY: 6.2%
• Active inventory: 91
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,954 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $353

Break-even live

Break-even rent $2,507

Max offer price $220,000

Occupancy floor 83%

Sensitivity live

Price	-10% $505	-5% $429	+0% $353	+5% $277	+10% $201
Rent	-10% $120	-5% $236	+0% $353	+5% $470	+10% $586
Rate	-1.0pp $464	-0.5pp $409	base $353	+0.5pp $296	+1.0pp $238

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

Units	Beds	Baths	Est. rent
1× unit	4	2	$1,459
1× unit	2	1	$1,495
Total (2 units)			$2,954

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-31
   days on market $220,000 Active 131 DOM
2. 2026-03-30
   price $220,000 1118-char remark

   Show marketing remark (1118 chars)

   Historic Duplex with Income Potential in Urbana! Well-maintained duplex offering historic character and investment flexibility, located along a classic brick sidewalk and rooted in Urbana's rich history. 328 Side features 4 bedrooms, 2 full baths, and three full floors of living space. This unit is currently occupied. 330 Side includes 2 bedrooms and 1 full bath, is tenant-occupied, and operates with gas and electric, providing steady rental income. Conveniently located steps from the bike trail and Depot Coffee Shop, and just three blocks from downtown Urbana, offering easy access to local amenities and community attractions. All major mechanicals were updated in 2022. Gross rental income is approximately $2,500 per month. Owner currently pays water and trash. Property is priced to support day-one cash flow based on current rents and operating structure. Ideal for investors or owner-occupants seeking rental income with long-term potential. Tenant-occupied units--please do not disturb tenants. Showings by appointment only. Seller is motivated! Ready to make a deal! Agent is related to the seller.

3. 2026-03-02
   price $224,900 1118-char remark

   Show marketing remark (1118 chars)

   Historic Duplex with Income Potential in Urbana! Well-maintained duplex offering historic character and investment flexibility, located along a classic brick sidewalk and rooted in Urbana's rich history. 328 Side features 4 bedrooms, 2 full baths, and three full floors of living space. This unit is currently occupied. 330 Side includes 2 bedrooms and 1 full bath, is tenant-occupied, and operates with gas and electric, providing steady rental income. Conveniently located steps from the bike trail and Depot Coffee Shop, and just three blocks from downtown Urbana, offering easy access to local amenities and community attractions. All major mechanicals were updated in 2022. Gross rental income is approximately $2,500 per month. Owner currently pays water and trash. Property is priced to support day-one cash flow based on current rents and operating structure. Ideal for investors or owner-occupants seeking rental income with long-term potential. Tenant-occupied units--please do not disturb tenants. Showings by appointment only. Seller is motivated! Ready to make a deal! Agent is related to the seller.

4. 2026-01-20
   listed $229,000 Active 1118-char remark

   Show marketing remark (1118 chars)

   Historic Duplex with Income Potential in Urbana! Well-maintained duplex offering historic character and investment flexibility, located along a classic brick sidewalk and rooted in Urbana's rich history. 328 Side features 4 bedrooms, 2 full baths, and three full floors of living space. This unit is currently occupied. 330 Side includes 2 bedrooms and 1 full bath, is tenant-occupied, and operates with gas and electric, providing steady rental income. Conveniently located steps from the bike trail and Depot Coffee Shop, and just three blocks from downtown Urbana, offering easy access to local amenities and community attractions. All major mechanicals were updated in 2022. Gross rental income is approximately $2,500 per month. Owner currently pays water and trash. Property is priced to support day-one cash flow based on current rents and operating structure. Ideal for investors or owner-occupants seeking rental income with long-term potential. Tenant-occupied units--please do not disturb tenants. Showings by appointment only. Seller is motivated! Ready to make a deal! Agent is related to the seller.

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,448
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$6,625
• − Repairs & maintenance: −$2,836
• − Management: −$2,836
• − Depreciation: −$6,400
• Taxable income: $1,128
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $3,964/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 · 13 photos

Fair 45/100 Moderate rehab

This historic duplex requires moderate repairs to its exterior and roof, but has good mechanicals and is currently occupied, providing rental income.

Repairs flagged

• Major Exterior paint — Peeling paint on the exterior walls and brick.
• Major Roof — Visible wear and potential leaks.

Value-add opportunities

• Both Paint the exterior and repair the roof — Both updates will improve the home's curb appeal and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Peeling paint on the exterior walls and brick.	Major	$15,000–50,000
Roof · Visible wear and potential leaks.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint the exterior and repair the roof — Both updates will improve the home's curb appeal and increase its value for both resale and rental. ↑

ⓘ 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: Urbana City
• NCES district ID: 3904494
• Math proficiency: 43% ▼ -8.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $40,461
• Composite: 36.9/100
• National rank: #4545
• State rank: #509 of 656 in OH

Livability — Urbana

• Score: 71/100
• State rank: #404
• US rank: #6676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Urbana, OH
• County: Champaign · 37,359 people
• Population (ZIP): 19,985
• Household income: $72,500
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 8.2

Population outlook (Champaign County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 34,790 · -4.6%
• By 2040: 31,082 · -14.8%
• By 2050: 27,217 · -25.4%
• By 2075: 19,156 · -47.5%
• By 2100: 12,690 · -65.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 3% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Italian 3% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Champaign

• 2024 margin: Solid R (+50.8) · D 24.1% · R 74.9%
• 2008→2024 swing: -30.9pp toward R · 2008: -19.9pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+47.7 2016: R+44.5 2012: R+20.1 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.22%
• Current HPI: 415.85
• 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

-3.9% since first listed

3 events — show timeline

• 2026-03-30 Price Changed $220,000 CBRMLS
• 2026-03-02 Price Changed $224,900 CBRMLS
• 2026-01-20 Listed $229,000 CBRMLS