111 W South St · Hillsboro, OH 45133

$110,000

4 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 96 Days on market

Built 1901 2,657 sqft lot $71/sqft · 30% below area Est $157k · 30% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charm! This home has charm! French doors, fireplace, built in bookshelves, arched wall highlighting the staircase, there's so much to love here! Four large bedrooms, all with closets. Bathroom has a clawfoot tub, perfect for soaking in after a long day. Spacious front porch to sit on and take in the slow mornings and summer evenings. Fenced in backyard. Living room is oversized with plenty of space for company. Come see if this cozy charming home is what you've been searching for. 1-year home warranty included. Only one block from uptown Hillsboro. Easy access to uptown restaurants, shops and activities like the Farmer's Market and Movie Under the Stars events.

Key facts

• French doors
• Spacious front porch
• Clawfoot tub

Tags

• FRENCH DOORS
• FIREPLACE
• BUILT IN BOOKSHELVES
• ARCHED WALL
• CLAWFOOT TUB
• SPACIOUS FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.2% in Hillsboro — 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 67/100 on livability (#621 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Hillsboro City (rural): math 66% / reading 73% proficiency, ranked #175 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 125 active listings in the ZIP; 20 units permitted in Highland County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/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 $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Highland County population projected at -21% 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 $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $40k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $110k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 12.42%
• Cash-on-cash: 21.87%
• DSCR: 1.97
• GRM: 5.8

CMA / ARV

• ARV (median comp): $157,456
• List price: $110,000
• Delta: -30.14%
• 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
331 S West St	0.13mi	3/1.0 (-1)	1,575 (+1%)	6mo	$146,500	$93	82
215 E Beech St	0.34mi	4/2.0	1,680 (+8%)	3mo	$185,000	$110	65
248 John St	0.64mi	3/1.0 (-1)	1,554 (-0%)	1mo	$194,351	$125	63
335 S High St	0.07mi	4/2.0	1,775 (+14%)	13mo	$220,000	$124	59
124 N East St	0.31mi	3/1.5 (-1)	1,431 (-8%)	7mo	$53,000	$37	59
407 S East St	0.18mi	3/2.0 (-1)	1,410 (-10%)	9mo	$217,000	$154	59
520 N East St	0.59mi	3/1.0 (-1)	1,494 (-4%)	4mo	$20,000	$13	57
226 E Pleasant St	0.24mi	3/2.0 (-1)	1,744 (+12%)	4mo	$185,000	$106	57
451 S Elm St	0.34mi	3/2.0 (-1)	1,464 (-6%)	14mo	$125,000	$85	54
129 Lanewood Dr	0.70mi	3/2.0 (-1)	1,542 (-1%)	8mo	$157,000	$102	50
131 W Collins Ave	0.63mi	3/2.0 (-1)	1,636 (+5%)	6mo	$179,000	$109	48
702 Cheryl Ln	0.52mi	3/2.0 (-1)	1,356 (-13%)	4mo	$298,000	$220	41

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: 14.5%
• Equity multiple: 1.58×
• Total profit: $17,905
• Equity at exit: $16,401

10-year hold

• IRR: 23.3%
• Equity multiple: 3.00×
• Total profit: $61,527
• Equity at exit: $9,511

Cash invested: $30,800 (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 45133

• Home prices YoY: -19.4%
• Active inventory: 125
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $561

Break-even live

Break-even rent $860

Max offer price $110,000

Occupancy floor 59%

Sensitivity live

Price	-10% $624	-5% $593	+0% $561	+5% $530	+10% $499
Rent	-10% $437	-5% $499	+0% $561	+5% $623	+10% $685
Rate	-1.0pp $617	-0.5pp $589	base $561	+0.5pp $533	+1.0pp $504

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $110,000 Active 96 DOM
2. 2026-06-18
   days on market $110,000 Active 94 DOM
3. 2026-06-17
   days on market $110,000 Active 93 DOM
4. 2026-06-16
   days on market $110,000 Active 92 DOM
5. 2026-06-15
   days on market $110,000 Active 91 DOM
6. 2026-06-13
   days on market $110,000 Active 89 DOM
7. 2026-06-12
   days on market $110,000 Active 88 DOM
8. 2026-06-09
   days on market $110,000 Active 85 DOM
9. 2026-06-08
   days on market $110,000 Active 84 DOM
10. 2026-06-08
    days on market $110,000 Active 83 DOM
11. 2026-06-07
    days on market $110,000 Active 82 DOM
12. 2026-06-04
    remarks 699-char remark
13. 2026-06-04
    days on market $110,000 Active 79 DOM
14. 2026-06-03
    pricestatus $110,000 Active 78 DOM
15. 2026-06-02
    days on market $120,000 Contingency Pending 78 DOM
16. 2026-06-01
    days on market $120,000 Contingency Pending 77 DOM
17. 2026-05-31
    days on market $120,000 Contingency Pending 76 DOM
18. 2026-05-18
    price $120,000 670-char remark

    Show marketing remark (670 chars)

    Charm! This home has charm! French doors, fireplace, built in bookshelves, arched wall highlighting the staircase, there's so much to love here! Four large bedrooms, all with closets. Bathroom has a clawfoot tub, perfect for soaking in after a long day. Spacious front porch to sit on and take in the slow mornings and summer evenings. Fenced in backyard. Living room is oversized with plenty of space for company. Come see if this cozy charming home is what you've been searching for. 1-year home warranty included. Only one block from uptown Hillsboro. Easy access to uptown restaurants, shops and activities like the Farmer's Market and Movie Under the Stars events.

19. 2026-04-06
    price $140,000 670-char remark

    Show marketing remark (670 chars)

    Charm! This home has charm! French doors, fireplace, built in bookshelves, arched wall highlighting the staircase, there's so much to love here! Four large bedrooms, all with closets. Bathroom has a clawfoot tub, perfect for soaking in after a long day. Spacious front porch to sit on and take in the slow mornings and summer evenings. Fenced in backyard. Living room is oversized with plenty of space for company. Come see if this cozy charming home is what you've been searching for. 1-year home warranty included. Only one block from uptown Hillsboro. Easy access to uptown restaurants, shops and activities like the Farmer's Market and Movie Under the Stars events.

20. 2026-03-13
    listed $150,000 Active 670-char remark

    Show marketing remark (670 chars)

    Charm! This home has charm! French doors, fireplace, built in bookshelves, arched wall highlighting the staircase, there's so much to love here! Four large bedrooms, all with closets. Bathroom has a clawfoot tub, perfect for soaking in after a long day. Spacious front porch to sit on and take in the slow mornings and summer evenings. Fenced in backyard. Living room is oversized with plenty of space for company. Come see if this cozy charming home is what you've been searching for. 1-year home warranty included. Only one block from uptown Hillsboro. Easy access to uptown restaurants, shops and activities like the Farmer's Market and Movie Under the Stars events.

21. 2022-06-06
    soldstatus $62,500
22. 2020-04-23
    soldstatus $60,000 Sold 84-char remark

    Show marketing remark (84 chars)

    Nice, older home in town. Well-maintained & tastefully decorated. Well-priced.

23. 2020-03-16
    historical Contingency Pending 84-char remark

    Show marketing remark (84 chars)

    Nice, older home in town. Well-maintained & tastefully decorated. Well-priced.

24. 2020-03-05
    status Active 84-char remark

    Show marketing remark (84 chars)

    Nice, older home in town. Well-maintained & tastefully decorated. Well-priced.

25. 2020-02-11
    historical Contingency Pending 84-char remark

    Show marketing remark (84 chars)

    Nice, older home in town. Well-maintained & tastefully decorated. Well-priced.

26. 2020-01-07
    listed $69,500 Active 84-char remark

    Show marketing remark (84 chars)

    Nice, older home in town. Well-maintained & tastefully decorated. Well-priced.

27. 2008-07-24
    soldstatus $19,000
28. 2008-07-11
    listed $19,900
29. 1993-05-28
    soldstatus $45,000

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$516/yr (+$43/mo · 75.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,851
• − Mortgage interest: −$6,162
• − Property taxes: −$683
• − Insurance: −$550
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$3,200
• Taxable income: $5,240
• Est. tax owed @ 24.0%: −$1,258
• After-tax cash flow: $5,479/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: Hillsboro City
• NCES district ID: 3904412
• Math proficiency: 66% ▬ 0.00%
• Reading proficiency: 73% ▲ 1.00%
• Median HH income: $37,342
• Composite: 57.72/100
• National rank: #1056
• State rank: #175 of 656 in OH

Livability — Hillsboro

• Score: 67/100
• State rank: #621
• US rank: #10783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OH
• County: Highland · 42,279 people
• Population (ZIP): 23,604
• Household income: $58,813
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 15.9

Population outlook (Highland County) Hauer SSP2

• Today (2025): 41,165 people
• By 2030: 39,726 · -3.5%
• By 2040: 36,377 · -11.6%
• By 2050: 32,572 · -20.9%
• By 2075: 23,690 · -42.5%
• By 2100: 16,220 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Serbian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Highland

• 2024 margin: Solid R (+63.4) · D 18.1% · R 81.4%
• 2008→2024 swing: -37.0pp toward R · 2008: -26.3pp · 2024: -63.4pp
• All cycles: 2024: R+63.4 2020: R+60.4 2016: R+56.1 2012: R+30.7 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.94%
• Current HPI: 278.012
• 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

+166.7% since first listed

12 events — show timeline

• 2026-05-18 Price Changed $120,000 Cincy MLS
• 2026-04-06 Price Changed $140,000 Cincy MLS
• 2026-03-13 Listed $150,000 Cincy MLS
• 2022-06-06 Sold (Public Records) $62,500 Public Records
• 2020-04-23 Sold (MLS) $60,000 Cincy MLS
• 2020-03-16 Contingent — Cincy MLS
• 2020-03-05 Relisted — Cincy MLS
• 2020-02-11 Contingent — Cincy MLS
• 2020-01-07 Listed $69,500 Cincy MLS
• 2008-07-24 Sold (MLS) $19,000 Cincy MLS
• 2008-07-11 Listed $19,900 Cincy MLS
• 1993-05-28 Sold (Public Records) $45,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $683 · +0.0% YoY. Source: county tax records.