213 E Elm St · Bluffton, OH 45817

$178,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 39 Days on market

Built 1973 Est $172k · at est.

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Why this score? — see what drove the D+ 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 +17.9/30.0
• Schools +6.7/10.0
• ARV discount +6.0/15.0
• DSCR +5.6/10.0
• Livability +4.5/5.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom ranch home with large back yard. Nice deck out front, perfect place to sit and relax!, Under 1 Acre

Key facts

• New appliances
• Central air
• Dehumidifier

Tags

• NEW APPLIANCES
• ENGINEERED HARDWOOD FLOORING
• HIGH EFFICIENCY HVAC SYSTEM
• CENTRAL AIR
• ENCAPSULATED CRAWL SPACE
• DEHUMIDIFIER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (10.2% below list).
• Recommended offer: $160k (10.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 91/100 on livability (#7 in OH, #68 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Bluffton Exempted Village (town): math 79% / reading 77% proficiency, ranked #63 of 656 in OH (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 23 active listings in the ZIP; solid renter incomes; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $120k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $159,764 (10.2% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.90% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $172,224
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 E Elm St	0.06mi	3/1.0	875 (-6%)	21mo	$180,000	$206	69
150 Geiger St	0.35mi	2/1.0 (-1)	1,002 (+7%)	1mo	$174,000	$174	66
180 Huber St	0.13mi	2/1.0 (-1)	1,014 (+8%)	11mo	$110,000	$108	66
307 S Main St Unit back	0.61mi	2/1.0 (-1)	952 (+2%)	1mo	$174,900	$184	62
165 Thurman St	0.38mi	2/1.0 (-1)	850 (-9%)	1mo	$182,000	$214	61
131 N Spring St	0.68mi	2/1.0 (-1)	936 (0%)	13mo	$165,000	$176	52

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-19,266
• Equity at exit: $26,540

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-4,579
• Equity at exit: $15,390

Cash invested: $49,840 (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 45817

• Home prices YoY: -33.5%
• Active inventory: 23
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$103 /mo · $1,240/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $151

Break-even live

Break-even rent $1,406

Max offer price $178,000

Occupancy floor 86%

Sensitivity live

Price	-10% $252	-5% $202	+0% $151	+5% $101	+10% $50
Rent	-10% $25	-5% $88	+0% $151	+5% $214	+10% $277
Rate	-1.0pp $241	-0.5pp $196	base $151	+0.5pp $105	+1.0pp $58

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $178,000 Active 39 DOM
2. 2026-06-18
   days on market $178,000 Active 38 DOM
3. 2026-06-17
   days on market $178,000 Active 37 DOM
4. 2026-06-16
   days on market $178,000 Active 36 DOM
5. 2026-06-15
   days on market $178,000 Active 35 DOM
6. 2026-06-14
   days on market $178,000 Active 33 DOM
7. 2026-06-12
   days on market $178,000 Active 32 DOM
8. 2026-06-09
   days on market $178,000 Active 29 DOM
9. 2026-06-08
   days on market $178,000 Active 28 DOM
10. 2026-06-07
    days on market $178,000 Active 27 DOM
11. 2026-06-07
    days on market $178,000 Active 26 DOM
12. 2026-06-04
    days on market $178,000 Active 23 DOM
13. 2026-06-02
    days on market $178,000 Active 22 DOM
14. 2026-06-01
    days on market $178,000 Active 21 DOM
15. 2026-05-31
    days on market $178,000 Active 20 DOM
16. 2026-05-31
    days on market $178,000 Active 19 DOM
17. 2026-05-12
    listed $178,000 Active 388-char remark
18. 2022-07-22
    soldstatus $120,000
19. 2022-07-15
    soldstatus $120,000 114-char remark

    Show marketing remark (114 chars)

    Nice 3 bedroom ranch home with large back yard. Nice deck out front, perfect place to sit and relax!, Under 1 Acre

20. 2022-06-10
    listed $120,000 114-char remark

    Show marketing remark (114 chars)

    Nice 3 bedroom ranch home with large back yard. Nice deck out front, perfect place to sit and relax!, Under 1 Acre

21. 2013-09-30
    historical
22. 2013-09-30
    historical
23. 2013-02-25
    listed $87,500
24. 2013-02-25
    listed $87,500
25. 2006-09-28
    soldstatus $85,000
26. 2005-09-22
    soldstatus $70,000
27. 1997-08-05
    soldstatus $72,500

ⓘ 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: $1,240 · $103/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$768/yr (+$64/mo · 61.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,172
• − Mortgage interest: −$9,971
• − Property taxes: −$1,240
• − Insurance: −$890
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$5,178
• Taxable loss: −$1,175
• Est. tax savings @ 24.0%: +$282
• After-tax cash flow: $2,096/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: Bluffton Exempted Village
• NCES district ID: 3904521
• Math proficiency: 79% ▼ -8.00%
• Reading proficiency: 77% ▼ -6.00%
• Median HH income: $59,825
• Composite: 66.95/100
• National rank: #398
• State rank: #63 of 656 in OH

Livability — Bluffton

• Score: 91/100
• State rank: #7
• US rank: #68

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bluffton, OH
• County: Allen · 98,169 people
• Metro: Lima, OH
• Population (ZIP): 5,820
• Household income: $82,784
• Rent vs Own: 17.7% rent · 82.3% own

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 2% Black 2% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.21%
• Current HPI: 206.5891
• 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

+145.5% since first listed

11 events — show timeline

• 2026-05-12 Listed $178,000 FSBO.com
• 2022-07-22 Sold (Public Records) $120,000 Public Records
• 2022-07-15 Sold (MLS) $120,000 WCARE
• 2022-06-10 Listed $120,000 WCARE
• 2013-09-30 Listing Removed — NORIS
• 2013-09-30 Listing Removed — NORIS
• 2013-02-25 Listed $87,500 NORIS
• 2013-02-25 Listed $87,500 NORIS
• 2006-09-28 Sold (Public Records) $85,000 Public Records
• 2005-09-22 Sold (Public Records) $70,000 Public Records
• 1997-08-05 Sold (Public Records) $72,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,240 · +0.0% YoY. Source: county tax records.