15 E Vine St · Mount Vernon, OH 43050

$524,900

None bd · 1.0 ba · 7,035 sqft · MultiFamily public records · 4 Days on market

Built 1900 2,178 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

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

For investors who prioritize cash flow stability, tenant diversity, and location-driven appreciation. This mixed-use building checks every box. The ground-floor retail features large display windows and flexible interior layout. Second and Third floors provide six 1-bedroom apartments. It delivers a balanced income stream in a corridor just blocks from downtown.

Key facts

• Ground-floor retail
• 2,178 sq ft lot
• Built 1900

Tags

• GROUND-FLOOR RETAIL
• LARGE DISPLAY WINDOWS
• FLEXIBLE INTERIOR LAYOUT
• SIX 1-BEDROOM APARTMENTS
• BALANCED INCOME STREAM
• LOCATION-DRIVEN APPRECIATION

Property features AI

Finance

• Other: Standard listing conditions
• Financial info: Annual property tax: $3,334 (tax year 2025); Investor note: 7-unit building (income/expense details not provided)

Exterior

• Home design: Midrise property; Built in 1900
• Construction: Year built 1900
• Exterior features: Lot approximately 0.05 acres (about 2,178 sq ft); Located at the corner of E Vine St and S Main

Interior

• Bedrooms: 7 total units (individual bedroom counts per unit not provided)
• Interior features: Midrise multi-unit building

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $525k).
• Cap rate 11.7% vs local median 3.0% in Mount Vernon — 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 76/100 on livability (#227 in OH, #3,542 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Mount Vernon City (town): math 55% / reading 62% proficiency, ranked #321 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 163 active listings in the ZIP; 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).
• At $7,111/mo this rent would consume 131% of the median local household income ($65k/yr) — 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Knox County population projected at -14% 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 $147k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $524,900

Questions for the listing agent

1. Built in 1900 — 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. 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?
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 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: 1.35% ✓
• Cap rate: 11.71%
• Cash-on-cash: 19.34%
• DSCR: 1.86
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.3%
• Equity multiple: 1.45×
• Total profit: $65,670
• Equity at exit: $78,264

10-year hold

• IRR: 20.3%
• Equity multiple: 2.71×
• Total profit: $250,922
• Equity at exit: $45,384

Cash invested: $146,972 (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 43050

• Active inventory: 163
• Price-to-rent: 36.9×

Monthly cashflow live

• Estimated rent: $7,111 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$278 /mo · $3,334/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,493
• Net cashflow: $2,369

Break-even live

Break-even rent $4,113

Max offer price $524,900

Occupancy floor 62%

Sensitivity live

Price	-10% $2,666	-5% $2,517	+0% $2,369	+5% $2,220	+10% $2,071
Rent	-10% $1,807	-5% $2,088	+0% $2,369	+5% $2,649	+10% $2,930
Rate	-1.0pp $2,633	-0.5pp $2,502	base $2,369	+0.5pp $2,232	+1.0pp $2,094

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$7,110
Total (6 units)			$7,111

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: $131,225
• Closing costs: $15,747
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-12
   statusdays on market $524,900 Pending 4 DOM
2. 2026-06-09
   remarks 364-char remark
3. 2026-06-09
   listed $524,900 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: $3,334 · $278/mo
• Projected year-2 tax: $5,761 · $480/mo
• Expected delta: +$2,427/yr (+$202/mo · 72.8%)

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

Taxation est. · year 1

• Rental income: $85,332
• − Mortgage interest: −$29,403
• − Property taxes: −$3,334
• − Insurance: −$2,624
• − Repairs & maintenance: −$6,827
• − Management: −$6,827
• − Depreciation: −$15,270
• Taxable income: $21,048
• Est. tax owed @ 24.0%: −$5,052
• After-tax cash flow: $23,371/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: Mount Vernon City
• NCES district ID: 3910012
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $44,253
• Composite: 49.26/100
• National rank: #2029
• State rank: #321 of 656 in OH

Livability — Mount Vernon

• Score: 76/100
• State rank: #227
• US rank: #3542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, OH
• County: Knox · 63,297 people
• City population: 30,360
• Population (ZIP): 30,360
• Household income: $65,044
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 12.7

Population outlook (Knox County) Hauer SSP2

• Today (2025): 60,036 people
• By 2030: 58,670 · -2.3%
• By 2040: 54,963 · -8.4%
• By 2050: 51,353 · -14.5%
• By 2075: 43,196 · -28.0%
• By 2100: 34,514 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+44.9) · D 27.1% · R 72.0%
• 2008→2024 swing: -25.0pp toward R · 2008: -19.9pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.8 2016: R+38.2 2012: R+24.3 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.50%
• Current HPI: 304.4254
• 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

3 events — show timeline

• 2026-06-08 Listed $524,900 CBRMLS
• 2024-11-04 Rental Removed $900 RENTALBEAST
• 2024-09-05 Listed for Rent $900 RENTALBEAST

Property tax history

-1.5%/yr

Latest (2025): $3,334 · -1.5% YoY. Source: county tax records.