414 Louden St #416 · Urbana, OH 43078

$49,900

4 bd · 2.5 ba · 2,506 sqft · MultiFamily public records · 50 Days on market

Built 1900 6,098 sqft lot $20/sqft · 70% below area ↓ 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is.

Key facts

• 6,098 sq ft lot
• Built 1900
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/2.0-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.4% 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.
• Market conditions: 91 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 3.58% ✓
• Cap rate: 29.41%
• Cash-on-cash: 82.56%
• DSCR: 4.67
• GRM: 2.3

CMA / ARV

• ARV (median comp): $167,702
• List price: $49,900
• Delta: -70.24%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Boyce St	0.33mi	4/—	2,503 (-0%)	1mo	$225,000	$90	84
412 N Main St	0.32mi	4/—	2,604 (+4%)	6mo	$180,000	$69	73

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: 92.3%
• Equity multiple: 7.33×
• Total profit: $88,492
• Equity at exit: $44,954

10-year hold

• IRR: 87.2%
• Equity multiple: 16.22×
• Total profit: $212,628
• Equity at exit: $96,945

Cash invested: $13,972 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,785 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$166 /mo · $1,997/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $961

Break-even live

Break-even rent $568

Max offer price $49,900

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	2	$1,786
Total (2 units)			$1,785

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-13
   status Pending 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

2. 2026-05-13
   status Pending 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

3. 2026-04-23
   price $49,900 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

4. 2026-04-23
   price $49,900 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

5. 2026-04-08
   price $54,400 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

6. 2026-04-03
   price $64,400 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

7. 2026-03-24
   listed $64,900 Active 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

8. 2026-03-24
   listed $64,900 Active 181-char remark

   Show marketing remark (181 chars)

   Multi Fam Investor Special in Urbana! Potential duplex with over 2,500sqft. Two 2BR 2BA units and separate meters. Easy conversion back to multi-unit. Needs renovation. Sold as is

9. 2023-07-14
   soldstatus $65,000
10. 2023-06-29
    soldstatus $65,000 Closed
11. 2023-06-09
    status Pending
12. 2023-06-08
    historical Contingent Finance and Inspection
13. 2023-06-05
    soldstatus $23,333
14. 2023-06-01
    listed $69,900 Active

ⓘ 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: $1,997 · $166/mo
• Projected year-2 tax: $1,997 · $166/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $21,420
• − Mortgage interest: −$2,795
• − Property taxes: −$1,997
• − Insurance: −$250
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$1,452
• Taxable income: $11,500
• Est. tax owed @ 24.0%: −$2,760
• After-tax cash flow: $8,775/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: 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

-28.6% since first listed

14 events — show timeline

• 2026-05-13 Pending — Dayton MLS
• 2026-05-13 Pending — CBRMLS
• 2026-04-23 Price Changed $49,900 Dayton MLS
• 2026-04-23 Price Changed $49,900 CBRMLS
• 2026-04-08 Price Changed $54,400 CBRMLS
• 2026-04-03 Price Changed $64,400 CBRMLS
• 2026-03-24 Listed $64,900 CBRMLS
• 2026-03-24 Listed $64,900 Dayton MLS
• 2023-07-14 Sold (Public Records) $65,000 Public Records
• 2023-06-29 Sold (MLS) $65,000 CBRMLS
• 2023-06-09 Pending — CBRMLS
• 2023-06-08 Contingent — CBRMLS
• 2023-06-05 Sold (Public Records) $23,333 Public Records
• 2023-06-01 Listed $69,900 CBRMLS

Property tax history

+12.3%/yr

Latest (2025): $1,997 · +15.5% YoY. Source: county tax records.