550 Mill St · Chillicothe, OH 45601

$187,900

4 bd · 1.0 ba · 1,237 sqft · SingleFamily public records · 222 Days on market

Built 1940 5,840 sqft lot $152/sqft · 14% below area Est $219k · 14% under

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Why this score? — see what drove the D 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 +13.8/15.0
• Cash flow +11.7/30.0
• Schools +3.5/10.0
• DSCR +3.4/10.0
• Livability +3.1/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

Key facts

• Close to schools
• Updated bath
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATH
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $-55 ($-657/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (25.0% below list).
• Recommended offer: $141k (25.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.4% in Chillicothe — 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 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chillicothe Middle School (math 29% / reading 43%, grade F, #541 of 654 statewide, top 83%, 395 students, 0% FRL); Chillicothe High School (math 32% / reading 57%, grade F, #470 of 781 statewide, top 62%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 180 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,969 (25.0% 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 222 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 11.1

CMA / ARV

• ARV (median comp): $218,570
• List price: $187,900
• Delta: -14.03%
• 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
322 Vine St	0.37mi	3/1.5 (-1)	1,200 (-3%)	3mo	$185,000	$154	68
478 Stacey Rd	0.35mi	3/2.0 (-1)	1,295 (+5%)	3mo	$221,500	$171	64
135 Sunbury Rd	0.73mi	3/1.0 (-1)	1,212 (-2%)	1mo	$250,000	$206	57
637 Linn St	0.57mi	3/1.0 (-1)	1,190 (-4%)	8mo	$225,000	$189	55
381 Ringwald St	0.35mi	3/1.5 (-1)	1,388 (+12%)	2mo	$225,000	$162	55
354 Fairway Ave	0.50mi	3/1.5 (-1)	1,147 (-7%)	4mo	$260,000	$227	54
726 Beechwood St	0.74mi	3/1.0 (-1)	1,197 (-3%)	3mo	$160,000	$134	53
583 Beechwood St	0.68mi	3/1.5 (-1)	1,184 (-4%)	9mo	$233,000	$197	46
342 N High St	0.54mi	3/2.0 (-1)	1,350 (+9%)	7mo	$229,900	$170	45
411 Church St	0.51mi	3/2.0 (-1)	1,408 (+14%)	1mo	$375,000	$266	43
18 Carlisle Pl	0.69mi	3/2.0 (-1)	1,180 (-5%)	10mo	$210,000	$178	43
9 Cavalier Ct	0.55mi	3/2.0 (-1)	1,416 (+14%)	1mo	$295,000	$208	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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-33,993
• Equity at exit: $28,017

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-34,327
• Equity at exit: $16,246

Cash invested: $52,612 (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 45601

• Active inventory: 180
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$985
• Tax from tax record: −$105 /mo · $1,257/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-55

Break-even live

Break-even rent $1,479

Max offer price $178,231

Occupancy floor 99%

Sensitivity live

Price	-10% $52	-5% $-2	+0% $-55	+5% $-108	+10% $-161
Rent	-10% $-166	-5% $-110	+0% $-55	+5% $1	+10% $57
Rate	-1.0pp $40	-0.5pp $-7	base $-55	+0.5pp $-103	+1.0pp $-153

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: $46,975
• Closing costs: $5,637
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $187,900 Active 222 DOM
2. 2026-06-21
   days on market $187,900 Active 221 DOM
3. 2026-06-18
   days on market $187,900 Active 219 DOM
4. 2026-06-17
   days on market $187,900 Active 218 DOM
5. 2026-06-16
   days on market $187,900 Active 217 DOM
6. 2026-06-15
   days on market $187,900 Active 216 DOM
7. 2026-06-13
   days on market $187,900 Active 214 DOM
8. 2026-06-12
   days on market $187,900 Active 213 DOM
9. 2026-06-09
   days on market $187,900 Active 210 DOM
10. 2026-06-08
    days on market $187,900 Active 209 DOM
11. 2026-06-08
    days on market $187,900 Active 208 DOM
12. 2026-06-07
    days on market $187,900 Active 207 DOM
13. 2026-06-04
    days on market $187,900 Active 204 DOM
14. 2026-06-02
    days on market $187,900 Active 203 DOM
15. 2026-06-01
    days on market $187,900 Active 202 DOM
16. 2026-05-31
    days on market $187,900 Active 201 DOM
17. 2026-03-26
    status Active 236-char remark

    Show marketing remark (236 chars)

    Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

18. 2026-03-16
    historical Active Under Contract 236-char remark

    Show marketing remark (236 chars)

    Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

19. 2026-03-03
    status Active 236-char remark

    Show marketing remark (236 chars)

    Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

20. 2026-02-24
    historical Active Under Contract 236-char remark

    Show marketing remark (236 chars)

    Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

21. 2025-11-11
    listed $187,900 Active 236-char remark

    Show marketing remark (236 chars)

    Inviting and move in ready! Four bedroom, 1 bath home with attached 1 car garage. This home has an updated kitchen and bath with two bedrooms and laundry on the main level. This home is well maintained and close to schools and shopping.

ⓘ 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: $1,257 · $105/mo
• Projected year-2 tax: $2,094 · $174/mo
• Expected delta: +$837/yr (+$70/mo · 66.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,916
• − Mortgage interest: −$10,525
• − Property taxes: −$1,257
• − Insurance: −$940
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$5,466
• Taxable loss: −$3,978
• Est. tax savings @ 24.0%: +$955
• After-tax cash flow: $298/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: Chillicothe City
• NCES district ID: 3904374
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $37,990
• Composite: 34.55/100
• National rank: #5174
• State rank: #535 of 656 in OH

Livability — Chillicothe

• Score: 62/100
• State rank: #909
• US rank: #17195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chillicothe, OH
• County: Ross · 75,517 people
• Population (ZIP): 56,453
• Household income: $57,430
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 10.6

Population outlook (Ross County) Hauer SSP2

• Today (2025): 75,482 people
• By 2030: 74,035 · -1.9%
• By 2040: 70,702 · -6.3%
• By 2050: 66,706 · -11.6%
• By 2075: 55,398 · -26.6%
• By 2100: 42,197 · -44.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ross

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -32.1pp toward R · 2008: -7.2pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+35.2 2016: R+27.4 2012: R+2.4 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.40%
• Current HPI: 205.7051
• 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

5 events — show timeline

• 2026-03-26 Relisted — SVAR
• 2026-03-16 Contingent — SVAR
• 2026-03-03 Relisted — SVAR
• 2026-02-24 Contingent — SVAR
• 2025-11-11 Listed $187,900 SVAR

Property tax history

-1.7%/yr

Latest (2025): $1,257 · +4.1% YoY. Source: county tax records.