349 W Main St · Mechanicsburg, OH 43044

$146,900

2 bd · 1.0 ba · 1,596 sqft · SingleFamily public records · 3 Days on market

Built 1900 7,840 sqft lot $92/sqft · 31% below area Est $214k · 31% under ↓ 14% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Appreciation +7.5/10.0
• Schools +6.1/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity in Mechanicsburg! This property needs updates and is being sold as-is, but offers some important improvements already completed, including a new roof in 2022 and a new furnace and A/C in 2024. Featuring a 2-car detached garage with access from the alley and off street parking. A spacious attic that could provide additional storage or future living space. With some vision, this could be a solid home or investment. Don't miss your chance on this great property!

Key facts

• 7,840 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family home; One story; Built in 1900; No shared/common walls
• Construction: Block foundation; Original construction from 1900
• Exterior features: Lot roughly 0.18 acres; Block foundation

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: One full bathroom
• Interior features: Crawl space and partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $-9 ($-105/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (21.2% below list).
• Recommended offer: $116k (21.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#272 in OH, #4,467 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Mechanicsburg Exempted Village (rural): math 76% / reading 67% proficiency, ranked #132 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.9% local appreciation)).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Risks & watch-outs

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

Recommended offer $115,791 (21.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — 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 B-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. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.6

CMA / ARV

• ARV (median comp): $213,579
• List price: $146,900
• Delta: -31.22%
• 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
349 W Main St	0.00mi	3/1.0 (+1)	1,596 (0%)	1mo	$137,000	$86	94
41 Oakland St	0.08mi	3/1.0 (+1)	1,674 (+5%)	1mo	$325,000	$194	82
105 N Main St	0.41mi	3/1.0 (+1)	1,621 (+2%)	9mo	$169,000	$104	66
31 W Sandusky St	0.51mi	3/1.5 (+1)	1,584 (-1%)	7mo	$150,000	$95	62
85 Prospect St	0.22mi	3/2.0 (+1)	1,584 (-1%)	22mo	$245,000	$155	61
223 Walnut St	0.24mi	3/1.0 (+1)	1,554 (-3%)	22mo	$205,000	$132	61
50 School St	0.42mi	3/2.0 (+1)	1,531 (-4%)	9mo	$229,900	$150	57
221 Walnut St	0.24mi	3/1.0 (+1)	1,399 (-12%)	8mo	$219,900	$157	57
213 Walnut St	0.26mi	3/1.0 (+1)	1,443 (-10%)	13mo	$200,000	$139	56
102 W Race St	0.36mi	3/1.5 (+1)	1,684 (+6%)	19mo	$200,000	$119	51
107 Sceva Ave	0.69mi	3/1.5 (+1)	1,606 (+1%)	22mo	$219,900	$137	41
79 S Locust St	0.70mi	3/1.0 (+1)	1,367 (-14%)	12mo	$145,900	$107	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.79×
• Total profit: $32,417
• Equity at exit: $82,350

10-year hold

• IRR: 13.4%
• Equity multiple: 3.40×
• Total profit: $98,838
• Equity at exit: $141,389

Cash invested: $41,132 (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 43044

• Home prices YoY: 1.2%
• Active inventory: 8
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$770
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $-9

Break-even live

Break-even rent $1,169

Max offer price $145,347

Occupancy floor 96%

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: $36,725
• Closing costs: $4,407
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-09
   status Pending 481-char remark

   Show marketing remark (482 chars)

   Great opportunity in Mechanicsburg! This property needs updates and is being sold as-is, but offers some important improvements already completed, including a new roof in 2022 and a new furnace and A/C in 2024. Featuring a 2-car detached garage with access from the alley and off street parking. A spacious attic that could provide additional storage or future living space. With some vision, this could be a solid home or investment. Don't miss your chance on this great property!

2. 2026-05-09
   status Pending 482-char remark

   Show marketing remark (482 chars)

   Great opportunity in Mechanicsburg! This property needs updates and is being sold as-is, but offers some important improvements already completed, including a new roof in 2022 and a new furnace and A/C in 2024. Featuring a 2-car detached garage with access from the alley and off street parking. A spacious attic that could provide additional storage or future living space. With some vision, this could be a solid home or investment. Don't miss your chance on this great property!

3. 2026-05-04
   listed $146,900 Active 481-char remark

   Show marketing remark (482 chars)

   Great opportunity in Mechanicsburg! This property needs updates and is being sold as-is, but offers some important improvements already completed, including a new roof in 2022 and a new furnace and A/C in 2024. Featuring a 2-car detached garage with access from the alley and off street parking. A spacious attic that could provide additional storage or future living space. With some vision, this could be a solid home or investment. Don't miss your chance on this great property!

4. 2026-05-04
   listed $146,900 Active 482-char remark

   Show marketing remark (482 chars)

   Great opportunity in Mechanicsburg! This property needs updates and is being sold as-is, but offers some important improvements already completed, including a new roof in 2022 and a new furnace and A/C in 2024. Featuring a 2-car detached garage with access from the alley and off street parking. A spacious attic that could provide additional storage or future living space. With some vision, this could be a solid home or investment. Don't miss your chance on this great property!

5. 2026-04-27
   historical
6. 2026-03-20
   status Active
7. 2026-03-16
   historical Contingency - Finance and Inspections
8. 2025-11-26
   status Active
9. 2025-11-06
   historical Contingency - Finance and Inspections
10. 2025-10-27
    listed $159,900 Active

ⓘ 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: $1,104 · $92/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$594/yr (+$49/mo · 53.8%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,895
• − Mortgage interest: −$8,229
• − Property taxes: −$1,104
• − Insurance: −$734
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$4,273
• Taxable loss: −$2,669
• Est. tax savings @ 24.0%: +$640
• After-tax cash flow: $535/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: Mechanicsburg Exempted Village
• NCES district ID: 3904548
• Math proficiency: 76% ▲ 1.00%
• Reading proficiency: 67% ▼ -7.00%
• Median HH income: $56,604
• Composite: 61.29/100
• National rank: #778
• State rank: #132 of 656 in OH

Livability — Mechanicsburg

• Score: 74/100
• State rank: #272
• US rank: #4467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mechanicsburg, OH
• County: Champaign · 37,359 people
• Population (ZIP): 4,972
• Household income: $68,141
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1.6

Population outlook (Champaign County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 34,790 · -4.6%
• By 2040: 31,082 · -14.8%
• By 2050: 27,217 · -25.4%
• By 2075: 19,156 · -47.5%
• By 2100: 12,690 · -65.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Champaign

• 2024 margin: Solid R (+50.8) · D 24.1% · R 74.9%
• 2008→2024 swing: -30.9pp toward R · 2008: -19.9pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+47.7 2016: R+44.5 2012: R+20.1 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.90%
• Current HPI: 399.44
• 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

-14.3% since first listed

12 events — show timeline

• 2026-05-29 Sold (MLS) $137,000 WRIST
• 2026-05-29 Sold (MLS) $137,000 CBRMLS
• 2026-05-09 Pending — CBRMLS
• 2026-05-09 Pending — WRIST
• 2026-05-04 Listed $146,900 WRIST
• 2026-05-04 Listed $146,900 CBRMLS
• 2026-04-27 Listing Removed — WRIST
• 2026-03-20 Relisted — WRIST
• 2026-03-16 Contingent — WRIST
• 2025-11-26 Relisted — WRIST
• 2025-11-06 Contingent — WRIST
• 2025-10-27 Listed $159,900 WRIST

Property tax history

+1.4%/yr

Latest (2025): $1,104 · +0.0% YoY. Source: county tax records.