402 W Johnny Lytle Ave · Springfield, OH 45506

$64,900

3 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 2 Days on market

Built 1886 6,550 sqft lot Est $115k · 44% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this great investment opportunity. Priced to sell so make an offer! Highly motivated Lender. Fast responses to all inquiries.

Key facts

• New entry door
• Full bath reno
• Lvp flooring

Tags

• CORNER LOT
• ROOM BY ROOM RENOVATIONS
• NEW ENTRY DOOR
• LVP FLOORING
• FULL BATH RENO
• UPDATED FURNACE

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Utilities: Has heating (forced air, natural gas)
• Home design: Two-story home
• Construction: Asbestos construction material; Cellar foundation
• Exterior features: Residential lot approximately 0.15 acres (50 x 131)

Interior

• Kitchen: Kitchen on main level, about 13 x 13
• Bedrooms: Bedroom on second floor, about 13 x 15; Bedroom on second floor, about 14 x 13
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 6 total rooms; Cellar (foundation)
• Laundry & utility: Main-level laundry room, about 9 x 12

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 20.5% vs local median 4.8% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Perrin Woods Elementary School (math 12% / reading 19%, grade F, #1,375 of 1,584 statewide, top 87%, 379 students, 0% FRL); Hayward Middle School (math 15% / reading 14%, grade F, #630 of 654 statewide, top 97%, 339 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 44% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $65k implies a 1198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1886 — 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 F 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: 2.35% ✓
• Cap rate: 20.46%
• Cash-on-cash: 50.61%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $114,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
536 Rosewood Ave	0.21mi	3/2.0	1,144 (-0%)	10mo	$114,000	$100	77
1505 S Yellow Springs St	0.41mi	3/1.5	1,152 (+0%)	11mo	$160,000	$139	69
1603 W Wittenberg Blvd	0.32mi	3/1.0	1,075 (-6%)	10mo	$39,900	$37	66
610 Portage Path	0.31mi	3/1.0	1,008 (-12%)	2mo	$105,000	$104	64
542 Rosewood Ave	0.22mi	3/1.0	999 (-13%)	6mo	$95,000	$95	63
1551 Southgate Ave	0.25mi	3/1.0	1,008 (-12%)	6mo	$75,000	$74	63
524 Rosewood Ave	0.19mi	3/1.0	1,308 (+14%)	11mo	$95,000	$73	58
329 Fair St	0.40mi	2/1.0 (-1)	1,252 (+9%)	7mo	$97,000	$77	56
237 Sturgeon St	0.63mi	3/1.5	1,225 (+7%)	6mo	$155,000	$127	52
230 Rice St	0.70mi	2/1.0 (-1)	1,208 (+5%)	2mo	$40,000	$33	52
1216 Innisfallen Ave	0.68mi	3/1.0	1,000 (-13%)	8mo	$119,900	$120	40
305 Catherine St	0.75mi	3/1.5	1,272 (+11%)	9mo	$143,000	$112	38

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: 48.4%
• Equity multiple: 3.11×
• Total profit: $38,312
• Equity at exit: $9,677

10-year hold

• IRR: 54.0%
• Equity multiple: 6.30×
• Total profit: $96,285
• Equity at exit: $5,611

Cash invested: $18,172 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,527 high
• Mortgage (P&I): −$340
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $766

Break-even live

Break-even rent $557

Max offer price $64,900

Occupancy floor 45%

Sensitivity live

Price	-10% $803	-5% $785	+0% $766	+5% $748	+10% $730
Rent	-10% $646	-5% $706	+0% $766	+5% $827	+10% $887
Rate	-1.0pp $799	-0.5pp $783	base $766	+0.5pp $750	+1.0pp $732

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	5d	1	0.18mi
1452 S Wittenberg Ave Springfield, OH	2.0	1.0	937	$1,010	$1.08	3d	1	0.28mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	20d	1	0.51mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	23d	1	0.55mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	12d	1	0.59mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	12d	1	0.62mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	45d	1	0.71mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	12d	1	0.73mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	25d	1	0.77mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	25d	1	0.78mi
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	45d	1	0.86mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	4d	1	1.43mi
2406 Springfield Xenia Rd Springfield, OH	3.0	2.0	1300	$1,650	$1.27	4d	1	1.45mi
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	4d	1	1.45mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	16d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   days on market $64,900 Active 2 DOM
2. 2026-06-17
   remarks 695-char remark
3. 2026-06-17
   listed $64,900 Active 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: $869 · $72/mo
• Projected year-2 tax: $941 · $78/mo
• Expected delta: +$72/yr (+$6/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,322
• − Mortgage interest: −$3,635
• − Property taxes: −$869
• − Insurance: −$324
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − Depreciation: −$1,888
• Taxable income: $8,673
• Est. tax owed @ 24.0%: −$2,082
• After-tax cash flow: $7,115/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.97%
• Current HPI: 286.2883
• Rent YoY: —
• Metro: Springfield, OH
• 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

+224.5% since first listed

11 events — show timeline

• 2026-06-16 Price Changed $64,900 Dayton MLS
• 2026-06-16 Listed $69,900 Dayton MLS
• 2012-12-17 Sold (MLS) $5,000 Cincy MLS
• 2012-12-17 Sold (MLS) $5,000 Dayton MLS
• 2012-12-17 Sold (MLS) $5,000 Dayton MLS
• 2012-08-30 Listing Removed — Cincy MLS
• 2012-08-30 Listed $5,200 Cincy MLS
• 2012-08-30 Listed $5,900 Dayton MLS
• 2012-05-07 Listed $9,900 Cincy MLS
• 1997-01-03 Sold (Public Records) $20,000 Public Records
• 1996-06-05 Sold (Public Records) $20,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $869 · +19.4% YoY. Source: county tax records.