1507 Nicklin Ave · Piqua, OH 45356

$169,900

3 bd · 1.0 ba · 2,142 sqft · SingleFamily public records · 277 Days on market

Built 1920 5,663 sqft lot $79/sqft · 15% below area Est $201k · 15% under

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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 +15.0/30.0
• ARV discount +14.4/15.0
• DSCR +4.6/10.0
• Schools +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

Key facts

• Wrap around porch
• Decorative fireplace
• Formal dining room

Tags

• ORIGINAL WOODWORK
• NEW ROOF
• ENERGY EFFICIENT VINYL WINDOWS
• FORMAL DINING ROOM
• DECORATIVE FIREPLACE
• WRAP AROUND PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $53 ($636/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 $150k (11.8% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 326 units permitted in Miami 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.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $29k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $170k implies a 1408% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.88% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $200,713
• List price: $169,900
• Delta: -15.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1040 Camp St	0.44mi	3/1.0	2,145 (+0%)	2mo	$179,000	$83	77
1511 Broadway	0.08mi	3/2.0	1,890 (-12%)	8mo	$325,000	$172	66
419 Riverside Dr	0.46mi	3/2.0	1,972 (-8%)	2mo	$134,000	$68	60
1327 Forest	0.30mi	3/2.0	2,388 (+12%)	9mo	$215,000	$90	55
1050 Boone St	0.59mi	4/2.0 (+1)	2,092 (-2%)	7mo	$170,000	$81	54
723 W Greene St	0.73mi	3/2.0	2,240 (+5%)	1mo	$220,000	$98	53
529 Boone St	0.64mi	4/1.5 (+1)	2,054 (-4%)	7mo	$160,000	$78	50
522 W North St	0.69mi	3/2.5	1,940 (-9%)	2mo	$224,000	$115	45
830 Park Ave	0.48mi	4/2.0 (+1)	2,448 (+14%)	2mo	$225,000	$92	43
1271 Park Ave	0.75mi	4/2.5 (+1)	2,076 (-3%)	8mo	$365,000	$176	43
905 W North St	0.65mi	4/2.0 (+1)	1,880 (-12%)	5mo	$197,900	$105	36
1704 Echo Lake Dr	0.73mi	4/2.5 (+1)	1,974 (-8%)	10mo	$380,000	$193	34

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-24,160
• Equity at exit: $25,333

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-16,707
• Equity at exit: $14,690

Cash invested: $47,572 (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 45356

• Active inventory: 139
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$169 /mo · $2,033/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $53

Break-even live

Break-even rent $1,432

Max offer price $169,900

Occupancy floor 91%

Sensitivity live

Price	-10% $149	-5% $101	+0% $53	+5% $5	+10% $-43
Rent	-10% $-65	-5% $-6	+0% $53	+5% $112	+10% $171
Rate	-1.0pp $139	-0.5pp $96	base $53	+0.5pp $9	+1.0pp $-36

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 E High St Piqua, OH	3.0	1.0	1500	$1,365	$0.91	5d	1	1.11mi

Listing history 35 events

1. 2026-06-21
   days on market $169,900 Active 277 DOM
2. 2026-06-18
   days on market $169,900 Active 274 DOM
3. 2026-06-17
   days on market $169,900 Active 273 DOM
4. 2026-06-16
   days on market $169,900 Active 272 DOM
5. 2026-06-15
   days on market $169,900 Active 271 DOM
6. 2026-06-14
   days on market $169,900 Active 269 DOM
7. 2026-06-13
   days on market $169,900 Active 268 DOM
8. 2026-06-10
   days on market $169,900 Active 266 DOM
9. 2026-06-09
   days on market $169,900 Active 265 DOM
10. 2026-06-08
    days on market $169,900 Active 264 DOM
11. 2026-06-07
    days on market $169,900 Active 263 DOM
12. 2026-06-05
    days on market $169,900 Active 260 DOM
13. 2026-06-03
    days on market $169,900 Active 259 DOM
14. 2026-06-02
    days on market $169,900 Active 258 DOM
15. 2026-06-01
    days on market $169,900 Active 257 DOM
16. 2026-05-31
    days on market $169,900 Active 256 DOM
17. 2026-05-31
    days on market $169,900 Active 255 DOM
18. 2026-05-12
    price $169,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

19. 2026-05-12
    price $169,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

20. 2026-02-19
    price $174,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

21. 2026-02-19
    price $174,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

22. 2025-11-12
    price $179,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

23. 2025-11-08
    price $179,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

24. 2025-10-08
    price $192,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

25. 2025-10-08
    price $192,900 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

26. 2025-09-17
    listed $198,900 Active 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

27. 2025-09-17
    listed $198,900 Active 847-char remark

    Show marketing remark (847 chars)

    Old World Charm Meets Modern Comfort! Step into this beautifully updated 4-bedroom, 2 bath home that seamlessly blends classic character with contemporary upgrades. From the moment you enter, you'll be greeted by soaring ceilings, stunning original woodwork, and an abundance of natural light. Enjoy brand new flooring throughout, a freshly painted interior, a new roof, and energy-efficient vinyl windows. The spacious layout includes a formal dining room, a cozy living room with a decorative fireplace, and a charming wrap-around porch perfect for relaxing or entertaining. Additional features include a full unfinished basement offering ample storage space and off-street parking conveniently located at the rear of the property. This home truly has it all—historic elegance with modern updates. Don't miss your chance to make it yours!

28. 2010-08-19
    soldstatus $11,267 Closed
29. 2010-08-19
    soldstatus $11,267
30. 2010-08-02
    historical
31. 2010-06-08
    historical
32. 2010-04-07
    listed $14,900
33. 2010-03-08
    listed $44,900
34. 2010-01-08
    soldstatus $50,000
35. 1996-07-15
    soldstatus $46,000

ⓘ 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: $2,033 · $169/mo
• Projected year-2 tax: $2,342 · $195/mo
• Expected delta: +$309/yr (+$26/mo · 15.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,987
• − Mortgage interest: −$9,517
• − Property taxes: −$2,033
• − Insurance: −$850
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$4,943
• Taxable loss: −$2,233
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $1,172/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• Rent YoY: —
• Metro: Dayton-Kettering, 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

+269.3% since first listed

18 events — show timeline

• 2026-05-12 Price Changed $169,900 Dayton MLS
• 2026-05-12 Price Changed $169,900 WRIST
• 2026-02-19 Price Changed $174,900 WRIST
• 2026-02-19 Price Changed $174,900 Dayton MLS
• 2025-11-12 Price Changed $179,900 WRIST
• 2025-11-08 Price Changed $179,900 Dayton MLS
• 2025-10-08 Price Changed $192,900 WRIST
• 2025-10-08 Price Changed $192,900 Dayton MLS
• 2025-09-17 Listed $198,900 WRIST
• 2025-09-17 Listed $198,900 Dayton MLS
• 2010-08-19 Sold (MLS) $11,267 Dayton MLS
• 2010-08-19 Sold (MLS) $11,267 Dayton MLS
• 2010-08-02 Listing Removed — Dayton MLS
• 2010-06-08 Listing Removed — Dayton MLS
• 2010-04-07 Listed $14,900 Dayton MLS
• 2010-03-08 Listed $44,900 Dayton MLS
• 2010-01-08 Sold (Public Records) $50,000 Public Records
• 1996-07-15 Sold (Public Records) $46,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,033 · +46.0% YoY. Source: county tax records.