219 W 5th St · Mansfield, OH 44903

$89,900

4 bd · 2.0 ba · 2,590 sqft · MultiFamily public records · 45 Days on market

Built 1920 7,840 sqft lot $35/sqft · 24% below area Est $118k · 24% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

Key facts

• 7,840 sq ft lot
• 6 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 4.2% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($65k/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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at -18% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.27% ✓
• Cap rate: 20.07%
• Cash-on-cash: 49.21%
• DSCR: 3.19
• GRM: 3.7

CMA / ARV

• ARV (median comp): $118,189
• List price: $89,900
• Delta: -23.94%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 46.8%
• Equity multiple: 3.03×
• Total profit: $51,187
• Equity at exit: $13,404

10-year hold

• IRR: 52.6%
• Equity multiple: 6.14×
• Total profit: $129,264
• Equity at exit: $7,773

Cash invested: $25,172 (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 44903

• Home prices YoY: -27.7%
• Active inventory: 122
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,045 high
• Mortgage (P&I): −$471
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $1,032

Break-even live

Break-even rent $738

Max offer price $89,900

Occupancy floor 45%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,046
Total (2 units)			$2,045

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-14
   status Pending 645-char remark

   Show marketing remark (645 chars)

   Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

2. 2026-05-04
   price $89,900 645-char remark

   Show marketing remark (645 chars)

   Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

3. 2026-04-18
   status Active 645-char remark

   Show marketing remark (645 chars)

   Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

4. 2026-04-13
   status Pending 645-char remark

   Show marketing remark (645 chars)

   Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

5. 2026-03-25
   listed $99,900 Active 645-char remark

   Show marketing remark (645 chars)

   Beautiful Duplex in the Heart of Mansfield, One side is 4 Bedrooms and 1 bathroom. The occupied unit is 3 Bedrooms and 1 Bathrooms. Each unit is updated and rent ready. Owner did major updates to it over last 2 years. One side is currently rented for $898 a month via Metro, the 4 Bedroom could rent for $1000+ a month. This property is perfect for someone looking for a cash flowing rental or a house hack! Property has all electric heating and Washer/Dryer hookups and Updated Kitchens and bathrooms. Potentially a 3 unit previously. Schedule your showing today! Agents use showingtime. Vacant unit is 219.5 please dont disturb resident at 219

6. 2026-02-04
   historical
7. 2025-12-11
   price $100,000
8. 2025-10-22
   price $110,000
9. 2025-09-23
   price $120,000
10. 2025-09-05
    listed $130,000 Active
11. 2025-09-03
    historical
12. 2023-03-08
    soldstatus $138,000
13. 2023-02-28
    soldstatus $138,000
14. 2023-01-18
    listed $131,500
15. 2016-06-01
    soldstatus $1,600
16. 1990-01-25
    soldstatus $630,000

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$255/yr (+$21/mo · 28.6%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,540
• − Mortgage interest: −$5,036
• − Property taxes: −$892
• − Insurance: −$450
• − Repairs & maintenance: −$1,963
• − Management: −$1,963
• − Depreciation: −$2,615
• Taxable income: $11,621
• Est. tax owed @ 24.0%: −$2,789
• After-tax cash flow: $9,599/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 26,804
• Household income: $65,421
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 9.5

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Black 9% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.50%
• Current HPI: 241.9342
• 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

-85.7% since first listed

16 events — show timeline

• 2026-05-14 Pending — CBRMLS
• 2026-05-04 Price Changed $89,900 CBRMLS
• 2026-04-18 Relisted — CBRMLS
• 2026-04-13 Pending — CBRMLS
• 2026-03-25 Listed $99,900 CBRMLS
• 2026-02-04 Listing Removed — CBRMLS
• 2025-12-11 Price Changed $100,000 CBRMLS
• 2025-10-22 Price Changed $110,000 CBRMLS
• 2025-09-23 Price Changed $120,000 CBRMLS
• 2025-09-05 Listed $130,000 CBRMLS
• 2025-09-03 Coming Soon — CBRMLS
• 2023-03-08 Sold (Public Records) $138,000 Public Records
• 2023-02-28 Sold (MLS) $138,000 MARMLS
• 2023-01-18 Listed $131,500 MARMLS
• 2016-06-01 Sold (Public Records) $1,600 Public Records
• 1990-01-25 Sold (Public Records) $630,000 Public Records

Property tax history

+27.2%/yr

Latest (2025): $892 · +0.0% YoY. Source: county tax records.