7033 State Route 117 · Mendon, OH 45882

$149,000

3 bd · 1.0 ba · 2,160 sqft · SingleFamily public records · 38 Days on market

Built 1900 1.51 ac lot $69/sqft · 65% below area

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Why this score? — see what drove the F 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

Key facts

• 1.506 acres
• Newer cabinets
• 2 story farmhouse

Tags

• 1.506 ACRES
• PARKWAY SCHOOL DISTRICT
• 2 STORY FARMHOUSE
• NEWER CABINETS
• ORIGINAL HARDWOOD TRIM
• 60X36 BARN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (31.0% below list).
• Recommended offer: $103k (31.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#891 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D-, amenities F.
• Parkway Local (rural): math 76% / reading 76% proficiency, ranked #96 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 92 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($72k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mercer County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $149k implies a 593% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $102,799 (31.0% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• GRM: 12.1

CMA / ARV

• ARV (median comp): $425,603
• List price: $149,000
• Delta: -64.99%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.4%
• Equity multiple: 0.20×
• Total profit: $-33,462
• Equity at exit: $22,216

10-year hold

• IRR: -18.2%
• Equity multiple: 0.01×
• Total profit: $-41,216
• Equity at exit: $12,883

Cash invested: $41,720 (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 45882

• Home prices YoY: -11.3%
• Active inventory: 11
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$115 /mo · $1,374/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-146

Break-even live

Break-even rent $1,213

Max offer price $123,235

Occupancy floor —

Sensitivity live

Price	-10% $-62	-5% $-104	+0% $-146	+5% $-188	+10% $-230
Rent	-10% $-227	-5% $-186	+0% $-146	+5% $-105	+10% $-65
Rate	-1.0pp $-71	-0.5pp $-108	base $-146	+0.5pp $-184	+1.0pp $-224

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-08
   status Pending 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

2. 2026-04-29
   price $149,000 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

3. 2026-04-22
   price $169,900 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

4. 2026-04-15
   price $179,900 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

5. 2026-04-08
   price $184,900 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

6. 2026-03-31
   listed $189,900 Active 949-char remark

   Show marketing remark (949 chars)

   Opportunity awaits on 1.506 acres in Parkway School District. This 2 story farmhouse offers 2,160 square feet with 3 bedrooms, 1 full bath, and 9 total rooms. Built in 1900, the home is being sold as is and offers buyers the chance to update it to their own vision. Major exterior improvement has already been made with a roof that is just 2 years old and in great condition. The kitchen offers newer cabinets, and both the kitchen and bathroom are reported by the seller to be in good condition. Original hardwood trim, doors, and hardware add timeless character throughout the home. Heating includes electric baseboards throughout the home along with 2 propane wall heaters. Cooling is provided by window AC units, which are not currently installed. Outside, the property includes a 60x36 barn, 24x12 shed, grain bin, and additional small shed, offering plenty of storage and utility. Very private setting surrounded by farmland with room to grow.

7. 1987-11-30
   soldstatus $21,500

ⓘ 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: $1,374 · $115/mo
• Projected year-2 tax: $1,849 · $154/mo
• Expected delta: +$475/yr (+$40/mo · 34.6%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,336
• − Mortgage interest: −$8,346
• − Property taxes: −$1,374
• − Insurance: −$745
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$4,335
• Taxable loss: −$4,438
• Est. tax savings @ 24.0%: +$1,065
• After-tax cash flow: $-685/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: Parkway Local
• NCES district ID: 3904857
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $47,796
• Composite: 64.14/100
• National rank: #569
• State rank: #96 of 656 in OH

Livability — Mendon

• Score: 62/100
• State rank: #891
• US rank: #16875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mercer · 42,068 people
• City population: 1,182
• Population (ZIP): 2,719
• Household income: $71,938
• Rent vs Own: 15.2% rent · 84.8% own

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 40,163 people
• By 2030: 39,367 · -2.0%
• By 2040: 37,406 · -6.9%
• By 2050: 34,917 · -13.1%
• By 2075: 28,969 · -27.9%
• By 2100: 21,338 · -46.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Scandinavian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Other Asian/Pacific 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+66.7) · D 16.3% · R 83.0%
• 2008→2024 swing: -23.2pp toward R · 2008: -43.5pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.9 2016: R+65.0 2012: R+54.8 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.46%
• Current HPI: 232.1255
• 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

+593.0% since first listed

7 events — show timeline

• 2026-05-08 Pending — MLSNOW
• 2026-04-29 Price Changed $149,000 MLSNOW
• 2026-04-22 Price Changed $169,900 MLSNOW
• 2026-04-15 Price Changed $179,900 MLSNOW
• 2026-04-08 Price Changed $184,900 MLSNOW
• 2026-03-31 Listed $189,900 MLSNOW
• 1987-11-30 Sold (Public Records) $21,500 Public Records

Property tax history

+8.8%/yr

Latest (2024): $1,374 · -19.2% YoY. Source: county tax records.