535 County Road 104 · Chesapeake, OH 45619

$119,000

5 bd · 2.0 ba · 2,299 sqft · SingleFamily public records · 40 Days on market

Built 1950 4.18 ac lot $52/sqft · 53% below 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Home with Acreage in Chesapeake! This diamond in the rough offers a great opportunity for someone looking for space inside and out. This home features 4 bedrooms, 2 full bathrooms, and a generously sized kitchen with plenty of room to entertain! Outside, you’ll find acreage that provides privacy and room to roam, along with a large garage that’s perfect for extra storage, or a workshop. With a little vision and TLC, this property has the potential to truly shine!

Key facts

• Large garage
• 4.18 acre lot
• 3 garage spots

Tags

• GENEROUSLY SIZED KITCHEN
• LARGE GARAGE

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#39 in OH, #392 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment C-.
• Chesapeake Union Exempted Village (suburban): math 40% / reading 57% proficiency, ranked #461 of 656 in OH (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lawrence County population projected at -22% 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 $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $31k; list at $119k implies a 284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.46% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.15%
• DSCR: 1.99
• GRM: 5.7

CMA / ARV

• ARV (median comp): $251,890
• List price: $119,000
• Delta: -52.76%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.9%
• Equity multiple: 1.47×
• Total profit: $15,684
• Equity at exit: $17,743

10-year hold

• IRR: 20.8%
• Equity multiple: 2.76×
• Total profit: $58,762
• Equity at exit: $10,289

Cash invested: $33,320 (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 45619

• Home prices YoY: -10.6%
• Active inventory: 32
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,739 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $549

Break-even live

Break-even rent $1,045

Max offer price $119,000

Occupancy floor 63%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-27
   status Active 488-char remark

   Show marketing remark (488 chars)

   Spacious Home with Acreage in Chesapeake! This diamond in the rough offers a great opportunity for someone looking for space inside and out. This home features 4 bedrooms, 2 full bathrooms, and a generously sized kitchen with plenty of room to entertain! Outside, you’ll find acreage that provides privacy and room to roam, along with a large garage that’s perfect for extra storage, or a workshop. With a little vision and TLC, this property has the potential to truly shine!

2. 2026-03-31
   status Pending 488-char remark

   Show marketing remark (488 chars)

   Spacious Home with Acreage in Chesapeake! This diamond in the rough offers a great opportunity for someone looking for space inside and out. This home features 4 bedrooms, 2 full bathrooms, and a generously sized kitchen with plenty of room to entertain! Outside, you’ll find acreage that provides privacy and room to roam, along with a large garage that’s perfect for extra storage, or a workshop. With a little vision and TLC, this property has the potential to truly shine!

3. 2026-03-14
   listed $119,000 Active 488-char remark

   Show marketing remark (488 chars)

   Spacious Home with Acreage in Chesapeake! This diamond in the rough offers a great opportunity for someone looking for space inside and out. This home features 4 bedrooms, 2 full bathrooms, and a generously sized kitchen with plenty of room to entertain! Outside, you’ll find acreage that provides privacy and room to roam, along with a large garage that’s perfect for extra storage, or a workshop. With a little vision and TLC, this property has the potential to truly shine!

4. 1988-10-04
   soldstatus $31,000

ⓘ 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: $1,025 · $85/mo
• Projected year-2 tax: $1,441 · $120/mo
• Expected delta: +$416/yr (+$35/mo · 40.5%)

ⓘ 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) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $20,872
• − Mortgage interest: −$6,666
• − Property taxes: −$1,025
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$3,462
• Taxable income: $4,987
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $5,386/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: Chesapeake Union Exempted Village
• NCES district ID: 3904529
• Math proficiency: 40% ▼ -22.00%
• Reading proficiency: 57% ▼ -12.00%
• Median HH income: $46,731
• Composite: 41.16/100
• National rank: #3553
• State rank: #461 of 656 in OH

Livability — Chesapeake

• Score: 86/100
• State rank: #39
• US rank: #392

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lawrence · 57,020 people
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 7,273
• Household income: $57,525
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 17.4

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 57,915 people
• By 2030: 55,650 · -3.9%
• By 2040: 50,523 · -12.8%
• By 2050: 45,103 · -22.1%
• By 2075: 32,441 · -44.0%
• By 2100: 21,754 · -62.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+50.5) · D 24.4% · R 74.9%
• 2008→2024 swing: -35.2pp toward R · 2008: -15.3pp · 2024: -50.5pp
• All cycles: 2024: R+50.5 2020: R+45.6 2016: R+43.9 2012: R+15.5 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.15%
• Current HPI: 170.5086
• 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

+283.9% since first listed

4 events — show timeline

• 2026-04-27 Relisted — HBRMLS
• 2026-03-31 Pending — HBRMLS
• 2026-03-14 Listed $119,000 HBRMLS
• 1988-10-04 Sold (Public Records) $31,000 Public Records

Property tax history

-2.1%/yr

Latest (2024): $1,025 · -1.5% YoY. Source: county tax records.