320 Woodlawn Ave · Zanesville, OH 43701

$349,900

5 bd · 5.0 ba · 4,381 sqft · MultiFamily public records · 38 Days on market

Built 1920 0.34 ac lot $80/sqft · 112% above area

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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
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• 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: 5 units. confirmed

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

Attention Investors! 5 unit building located in the Historic Putnam area and also in a federally designated opportunity zone! Several recent updates include a newer composition roof, exterior staining and painting and tuckpointing the brick exterior and chimneys! Updated electrical panel, numerous electrical updates throughout! Newer water heater, refurbished boiler system, window & wall A/C units. Current owners have made significant improvements to improve income & expense efficiency!

Key facts

• Historic putnam area
• 5 unit building
• Exterior staining

Tags

• 5 UNIT BUILDING
• HISTORIC PUTNAM AREA
• NEWER COMPOSITION ROOF
• EXTERIOR STAINING
• UPDATED ELECTRICAL PANEL
• NUMEROUS ELECTRICAL UPDATES

What this means for you Summary

Snapshot

• This is a 5 × 5-bed/5-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $653/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $350k).
• Recommended offer: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 3.3% in Zanesville — 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 74/100 on livability (#290 in OH, #4,764 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D, commute F.
• Zanesville City (town): math 29% / reading 38% proficiency, ranked #570 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.2%/yr); 299 active listings in the ZIP; 140 units permitted in Muskingum County in 2024 (100 in 5+ unit buildings).
• At $6,972/mo this rent would consume 145% of the median local household income ($58k/yr) (locally 1619% of renters already pay >50% of income on rent) — 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Muskingum County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $159k; list at $350k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.99% ✓
• Cap rate: 17.68%
• Cash-on-cash: 40.66%
• DSCR: 2.81
• GRM: 4.2

CMA / ARV

• ARV (median comp): $165,313
• List price: $349,900
• Delta: 111.66%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.23% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 2.63×
• Total profit: $159,943
• Equity at exit: $52,171

10-year hold

• IRR: 44.8%
• Equity multiple: 5.53×
• Total profit: $443,733
• Equity at exit: $30,253

Cash invested: $97,972 (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 43701

• Home prices YoY: -23.2%
• Rents YoY: 4.2%
• Active inventory: 299
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $6,972 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$207 /mo · $2,487/yr
• Insurance: −$146
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,464
• Net cashflow: $3,264

Break-even live

Break-even rent $2,840

Max offer price $349,900

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 5× units	5	5	$6,970
Total (5 units)			$6,972

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $349,900 Active 38 DOM
2. 2026-06-18
   days on market $349,900 Active 37 DOM
3. 2026-06-17
   days on market $349,900 Active 36 DOM
4. 2026-06-16
   days on market $349,900 Active 35 DOM
5. 2026-06-15
   days on market $349,900 Active 34 DOM
6. 2026-06-14
   days on market $349,900 Active 32 DOM
7. 2026-06-12
   pricedays on market $349,900 Active 31 DOM
8. 2026-06-09
   days on market $350,000 Active 28 DOM
9. 2026-06-08
   days on market $350,000 Active 27 DOM
10. 2026-06-07
    days on market $350,000 Active 26 DOM
11. 2026-06-05
    days on market $350,000 Active 23 DOM
12. 2026-06-02
    days on market $350,000 Active 21 DOM
13. 2026-06-01
    days on market $350,000 Active 20 DOM
14. 2026-05-31
    days on market $350,000 Active 19 DOM
15. 2026-05-30
    days on market $350,000 Active 18 DOM
16. 2026-05-12
    listed $350,000 Active 503-char remark

    Show marketing remark (503 chars)

    Attention Investors! 5 unit building located in the Historic Putnam area and also in a federally designated opportunity zone! Several recent updates include a newer composition roof, exterior staining and painting and tuckpointing the brick exterior and chimneys! Updated electrical panel, numerous electrical updates throughout! Newer water heater, refurbished boiler system, window & wall A/C units. Current owners have made significant improvements to improve income & expense efficiency!

17. 2021-12-02
    soldstatus $159,000
18. 2021-07-02
    status Pending
19. 2021-07-02
    status Pending
20. 2021-07-02
    historical
21. 2021-06-07
    status Active
22. 2021-06-07
    status Active
23. 2021-04-22
    status Pending
24. 2021-04-22
    status Pending
25. 2021-04-15
    listed $179,500 Active
26. 2021-04-15
    listed $179,500 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: $2,487 · $207/mo
• Projected year-2 tax: $3,973 · $331/mo
• Expected delta: +$1,486/yr (+$124/mo · 59.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,664
• − Mortgage interest: −$19,600
• − Property taxes: −$2,487
• − Insurance: −$2,416
• − Repairs & maintenance: −$6,693
• − Management: −$6,693
• − Depreciation: −$10,179
• Taxable income: $35,596
• Est. tax owed @ 24.0%: −$8,543
• After-tax cash flow: $30,630/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: Zanesville City
• NCES district ID: 3904517
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $29,695
• Composite: 27.13/100
• National rank: #7035
• State rank: #570 of 656 in OH

Livability — Zanesville

• Score: 74/100
• State rank: #290
• US rank: #4764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zanesville, OH
• County: Muskingum County · 56,402 people
• City population: 56,402
• Metro: Zanesville, OH
• Population (ZIP): 56,402
• Household income: $57,565
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1619.0

Population outlook (Muskingum County) Hauer SSP2

• Today (2025): 85,625 people
• By 2030: 84,592 · -1.2%
• By 2040: 81,288 · -5.1%
• By 2050: 76,751 · -10.4%
• By 2075: 64,143 · -25.1%
• By 2100: 47,598 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Black 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Muskingum

• 2024 margin: Solid R (+43.9) · D 27.6% · R 71.6%
• 2008→2024 swing: -36.7pp toward R · 2008: -7.2pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+39.3 2016: R+35.0 2012: R+7.0 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.41%
• Current HPI: 298.9994
• Rent YoY: ▲ 4.23%
• Metro: Zanesville, 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

+95.0% since first listed

11 events — show timeline

• 2026-05-12 Listed $350,000 CBRMLS
• 2021-12-02 Sold (Public Records) $159,000 Public Records
• 2021-07-02 Pending — MLSNOW
• 2021-07-02 Pending — CBRMLS
• 2021-07-02 Listing Removed — CBRMLS
• 2021-06-07 Relisted — MLSNOW
• 2021-06-07 Relisted — CBRMLS
• 2021-04-22 Pending — MLSNOW
• 2021-04-22 Pending — CBRMLS
• 2021-04-15 Listed $179,500 MLSNOW
• 2021-04-15 Listed $179,500 CBRMLS

Property tax history

+4.0%/yr

Latest (2025): $2,487 · -2.9% YoY. Source: county tax records.