201 Water St · Wadsworth, OH 44281

$72,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 6 Days on market

Built 1910 0.36 ac lot $91/sqft · 55% below area ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute 1910 Bungalow could be great for right-sizers, first-timers, and investors. This property offers ample living space for a couple or a few, just the right amount of yard for a small garden, and a single bay garage. The enclosed, three- season front porch could be a quiet retreat, pet parlor, or tiny greenhouse. Have a chance to make this home exactly the way you want it and schedule a private tour today. Property must be on the market for 7 days before seller will review or respond to any offers.

Key facts

• Wooded setting
• Small ravine
• Great backyard views

Tags

• GREAT BACKYARD VIEWS
• SMALL RAVINE
• WOODED SETTING
• ENCLOSED FRONT PORCH

Property features AI

Exterior

• Parking: Detached 1-car garage; Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Above-grade finished area approximately 792
• Construction: Frame construction with vinyl siding; Asphalt/fiberglass roof
• Exterior features: Stream/creek on lot; Sloped lot; Spring on property; Lot dimensions approximately 50 x 312

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Full basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Cap rate 15.4% vs local median 3.3% in Wadsworth — 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 82/100 on livability (#74 in OH, #1,136 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wadsworth City (suburban): math 74% / reading 77% proficiency, ranked #83 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($89k/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 $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,000

Questions for the listing agent

1. Built in 1910 — 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 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: 1.86% ✓
• Cap rate: 15.36%
• Cash-on-cash: 32.39%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (median comp): $159,103
• List price: $72,000
• Delta: -54.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Water St	0.00mi	2/1.0	792 (0%)	0mo	$86,000	$109	100
269 Water St	0.14mi	2/1.0	772 (-2%)	7mo	$150,000	$194	83
187 Park Ct	0.33mi	2/1.0	816 (+3%)	3mo	$160,000	$196	77
144 State St	0.28mi	2/1.0	834 (+5%)	9mo	$161,000	$193	71
206 Chestnut St	0.08mi	2/2.0	760 (-4%)	21mo	$150,000	$197	68
202 Ohio Ave	0.31mi	2/1.0	720 (-9%)	4mo	$175,000	$243	66
344 3rd St	0.53mi	2/1.0	897 (+13%)	4mo	$215,000	$240	50
140 3rd St	0.66mi	2/1.0	720 (-9%)	11mo	$155,000	$215	45
186 Durling Dr	0.66mi	2/1.0	880 (+11%)	13mo	$186,000	$211	40

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: 27.5%
• Equity multiple: 2.14×
• Total profit: $23,020
• Equity at exit: $10,735

10-year hold

• IRR: 35.0%
• Equity multiple: 4.21×
• Total profit: $64,791
• Equity at exit: $6,225

Cash invested: $20,160 (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 44281

• Active inventory: 135
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$104 /mo · $1,254/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $544

Break-even live

Break-even rent $648

Max offer price $72,000

Occupancy floor 54%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
285 Water St Unit down Wadsworth, OH	2.0	1.0	750	$1,300	$1.73	7d	1	0.18mi
515 Main St Unit UP Wadsworth, OH	1.0	1.0	950	$700	$0.74	1d	1	0.39mi
149 Meadowcreek Dr Wadsworth, OH	2.0	2.5	1100	$1,616	$1.47	1d	1	1.24mi
478 S Kaser Dr Unit 478 Wadsworth, OH	2.0	1.0	1000	$1,450	$1.45	10d	1	1.31mi

Listing history 8 events

1. 2026-05-06
   status Pending 770-char remark
2. 2026-04-29
   listed $72,000 Active 770-char remark
3. 2025-12-31
   status Pending 510-char remark

   Show marketing remark (510 chars)

   This cute 1910 Bungalow could be great for right-sizers, first-timers, and investors. This property offers ample living space for a couple or a few, just the right amount of yard for a small garden, and a single bay garage. The enclosed, three- season front porch could be a quiet retreat, pet parlor, or tiny greenhouse. Have a chance to make this home exactly the way you want it and schedule a private tour today. Property must be on the market for 7 days before seller will review or respond to any offers.

4. 2025-12-30
   soldstatus $83,000 Closed 510-char remark

   Show marketing remark (510 chars)

   This cute 1910 Bungalow could be great for right-sizers, first-timers, and investors. This property offers ample living space for a couple or a few, just the right amount of yard for a small garden, and a single bay garage. The enclosed, three- season front porch could be a quiet retreat, pet parlor, or tiny greenhouse. Have a chance to make this home exactly the way you want it and schedule a private tour today. Property must be on the market for 7 days before seller will review or respond to any offers.

5. 2025-11-28
   historical Contingent 510-char remark

   Show marketing remark (510 chars)

   This cute 1910 Bungalow could be great for right-sizers, first-timers, and investors. This property offers ample living space for a couple or a few, just the right amount of yard for a small garden, and a single bay garage. The enclosed, three- season front porch could be a quiet retreat, pet parlor, or tiny greenhouse. Have a chance to make this home exactly the way you want it and schedule a private tour today. Property must be on the market for 7 days before seller will review or respond to any offers.

6. 2025-11-10
   listed $79,900 Active 510-char remark

   Show marketing remark (510 chars)

   This cute 1910 Bungalow could be great for right-sizers, first-timers, and investors. This property offers ample living space for a couple or a few, just the right amount of yard for a small garden, and a single bay garage. The enclosed, three- season front porch could be a quiet retreat, pet parlor, or tiny greenhouse. Have a chance to make this home exactly the way you want it and schedule a private tour today. Property must be on the market for 7 days before seller will review or respond to any offers.

7. 2025-10-13
   historical
8. 2025-08-01
   listed $89,997 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: $1,254 · $104/mo
• Projected year-2 tax: $1,254 · $104/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,044
• − Mortgage interest: −$4,033
• − Property taxes: −$1,254
• − Insurance: −$360
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − Depreciation: −$2,095
• Taxable income: $5,735
• Est. tax owed @ 24.0%: −$1,376
• After-tax cash flow: $5,153/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: Wadsworth City
• NCES district ID: 3910029
• Math proficiency: 74% ▼ -8.00%
• Reading proficiency: 77% ▼ -6.00%
• Median HH income: $62,397
• Composite: 65.1/100
• National rank: #499
• State rank: #83 of 656 in OH

Livability — Wadsworth

• Score: 82/100
• State rank: #74
• US rank: #1136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadsworth, OH
• County: Medina County · 145,517 people
• City population: 34,704
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 34,704
• Household income: $89,131
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 597.0

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1% Asian 1%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% Other Asian/Pacific 0%

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: ▼ -148.82%
• Current HPI: 253.1502
• Rent YoY: —
• Metro: Cleveland-Elyria, 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

-4.4% since first listed

9 events — show timeline

• 2026-06-04 Sold (MLS) $86,000 MLSNOW
• 2026-05-06 Pending — MLSNOW
• 2026-04-29 Listed $72,000 MLSNOW
• 2025-12-31 Pending — MLSNOW
• 2025-12-30 Sold (MLS) $83,000 MLSNOW
• 2025-11-28 Contingent — MLSNOW
• 2025-11-10 Listed $79,900 MLSNOW
• 2025-10-13 Listing Removed — MLSNOW
• 2025-08-01 Listed $89,997 MLSNOW

Property tax history

+4.6%/yr

Latest (2025): $1,254 · +18.6% YoY. Source: county tax records.