242 Liberty St · Spencer, OH 44275

$130,000

3 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 4 Days on market

Built 1918 7,749 sqft lot $103/sqft · 35% below area Est $199k · 35% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +5.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

Key facts

• Attached garage
• Newer windows
• Updated flooring

Tags

• FULLY FENCED BACKYARD
• UPDATED FLOORING
• NEWER WINDOWS
• ATTACHED GARAGE
• PRIVATE RETREAT

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story house; Property listed as fixer
• Construction: Aluminum siding; Asphalt roof; Below-grade finished area present
• Exterior features: Deck; Porch; Full fenced yard

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Wall/window cooling unit(s)
• Interior features: Unfinished basement; 6 total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).

Location & tenants

• Location reads 58/100 on livability (#1,076 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime C-, employment C-, schools F.
• Black River Local (rural): math 55% / reading 66% proficiency, ranked #278 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($102k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 29y 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 $82k; list at $130k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1918 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.02% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $198,986
• List price: $130,000
• Delta: -34.67%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 S Main St	0.16mi	3/1.0	1,298 (+3%)	16mo	$187,000	$144	75
217 Liberty St	0.13mi	2/1.5 (-1)	1,340 (+6%)	7mo	$165,000	$123	72
105 Jackson St	0.37mi	2/1.5 (-1)	1,328 (+5%)	10mo	$185,000	$139	59
307 S Main St	0.16mi	3/2.0	1,404 (+11%)	19mo	$289,000	$206	54
214 Liberty St	0.13mi	2/1.5 (-1)	1,440 (+14%)	23mo	$199,900	$139	45
329 N Main St	0.71mi	2/2.0 (-1)	1,144 (-10%)	18mo	$202,000	$177	27

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-11,548
• Equity at exit: $19,383

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,259
• Equity at exit: $11,240

Cash invested: $36,400 (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 44275

• Home prices YoY: -8.7%
• Active inventory: 13
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$165 /mo · $1,976/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $149

Break-even live

Break-even rent $1,140

Max offer price $130,000

Occupancy floor 84%

Sensitivity live

Price	-10% $223	-5% $186	+0% $149	+5% $112	+10% $76
Rent	-10% $44	-5% $97	+0% $149	+5% $202	+10% $254
Rate	-1.0pp $215	-0.5pp $182	base $149	+0.5pp $115	+1.0pp $81

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-05
   status Pending 1308-char remark
2. 2026-05-01
   listed $130,000 Active 1308-char remark
3. 2023-04-17
   soldstatus $82,500 Closed 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

4. 2023-02-07
   status Pending 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

5. 2023-01-25
   price $89,900 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

6. 2022-12-28
   price $94,900 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

7. 2022-10-01
   price $99,900 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

8. 2022-09-28
   price $84,900 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

9. 2022-09-15
   price $99,900 400-char remark

   Show marketing remark (400 chars)

   Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

10. 2022-08-16
    price $109,900 400-char remark

    Show marketing remark (400 chars)

    Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

11. 2022-07-25
    price $114,900 400-char remark

    Show marketing remark (400 chars)

    Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

12. 2022-06-24
    listed $119,900 Active 400-char remark

    Show marketing remark (400 chars)

    Attention homeowners or investors, buy this property and put your finishing touches on it and either move in or use it as a cash-flowing rental. The property has a spacious fenced yard perfect for summer picnics. The property is close to all amenities, including city center, shopping, and restaurants. Property is priced to sell, seller is motivated, what are you waiting for?? Be first or be sorry!

13. 2007-09-01
    historical
14. 2007-09-01
    historical
15. 2006-09-12
    listed $99,900
16. 2006-09-12
    listed $99,900
17. 1997-06-12
    soldstatus $73,000
18. 1997-06-11
    soldstatus $73,000
19. 1997-06-03
    historical
20. 1997-03-10
    listed $79,900
21. 1997-03-03
    listed $74,900
22. 1990-05-08
    soldstatus $40,000

ⓘ 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: $1,976 · $165/mo
• Projected year-2 tax: $2,002 · $167/mo
• Expected delta: +$26/yr (+$2/mo · 1.3%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,944
• − Mortgage interest: −$7,282
• − Property taxes: −$1,976
• − Insurance: −$650
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$3,782
• Taxable loss: −$297
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $1,860/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: Black River Local
• NCES district ID: 3904846
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 66% ▼ -7.00%
• Median HH income: $54,027
• Composite: 51.84/100
• National rank: #1665
• State rank: #278 of 656 in OH

Livability — Spencer

• Score: 58/100
• State rank: #1076
• US rank: #21465

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spencer, OH
• County: Medina · 181,928 people
• Metro: Cleveland, OH
• Population (ZIP): 3,190
• Household income: $102,083
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 3.1

Population outlook (Medina County) Hauer SSP2

• Today (2025): 185,249 people
• By 2030: 188,174 · +1.6%
• By 2040: 190,350 · +2.8%
• By 2050: 187,283 · +1.1%
• By 2075: 177,108 · -4.4%
• By 2100: 151,304 · -18.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3%
• Common ancestry: Romanian 8% Iranian 3% Slovak 3%
• Foreign-born: 2%
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Medina

• 2024 margin: Strong R (+24.8) · D 37.2% · R 62.0%
• 2008→2024 swing: -16.8pp toward R · 2008: -8.0pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+23.4 2016: R+24.9 2012: R+13.1 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.86%
• Current HPI: 261.1408
• 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

+225.0% since first listed

22 events — show timeline

• 2026-05-05 Pending — MLSNOW
• 2026-05-01 Listed $130,000 MLSNOW
• 2023-04-17 Sold (MLS) $82,500 MLSNOW
• 2023-02-07 Pending — MLSNOW
• 2023-01-25 Price Changed $89,900 MLSNOW
• 2022-12-28 Price Changed $94,900 MLSNOW
• 2022-10-01 Price Changed $99,900 MLSNOW
• 2022-09-28 Price Changed $84,900 MLSNOW
• 2022-09-15 Price Changed $99,900 MLSNOW
• 2022-08-16 Price Changed $109,900 MLSNOW
• 2022-07-25 Price Changed $114,900 MLSNOW
• 2022-06-24 Listed $119,900 MLSNOW
• 2007-09-01 Listing Removed — MLSNOW
• 2007-09-01 Listing Removed — MLSNOW
• 2006-09-12 Listed $99,900 MLSNOW
• 2006-09-12 Listed $99,900 MLSNOW
• 1997-06-12 Sold (MLS) $73,000 MLSNOW
• 1997-06-11 Sold (Public Records) $73,000 Public Records
• 1997-06-03 Listing Removed — MLSNOW
• 1997-03-10 Listed $79,900 MLSNOW
• 1997-03-03 Listed $74,900 MLSNOW
• 1990-05-08 Sold (Public Records) $40,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,976 · +10.2% YoY. Source: county tax records.