221 N Madriver St · Bellefontaine, OH 43311

$184,900

4 bd · 1.5 ba · 2,200 sqft · SingleFamily public records · 5 Days on market

Built 1920 0.27 ac lot Est $246k · 25% under

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Why this score? — see what drove the C- 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 +15.1/30.0
• ARV discount +15.0/15.0
• Schools +4.8/10.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this timeless 1920s classic at 221 N. Madriver Street. Rich with character and opportunity, this spacious two-story home offers the perfect canvas for creating the home you've always envisioned. Whether your style leans toward the warm, sophisticated elegance of a Nancy Meyers-inspired interior or the enduring appeal of a modern Craftsman design. Inside, you'll find generously sized living spaces designed for both everyday living and entertaining. The main level features a formal living room, formal dining room, galley kitchen with an adjoining dining area, a large family room, and a full bath. Upstairs, four bedrooms and a second full bath provide ample space for fa

Key facts

• Large family room
• Formal dining room
• Galley kitchen

Tags

• SPACIOUS TWO STORY HOME
• GENEROUSLY SIZED LIVING SPACES
• FORMAL LIVING ROOM
• FORMAL DINING ROOM
• GALLEY KITCHEN
• LARGE FAMILY ROOM

Property features AI

Exterior

• Parking: Carport; 1-car garage
• Utilities: Public sewer; Natural gas connected
• Home design: Single family residence; Residential property
• Construction: Built in 1920; Vinyl siding
• Exterior features: Residential lot; Lot dimensions approximately 55 x 220; Lot size about 0.27 acres; Supplied water

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas
• Interior features: 12 total rooms; Entrance; Living room; Dining room; Family room; Breakfast area
• Laundry & utility: Crawl space/partial unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $61 ($736/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (8.1% below list).
• Recommended offer: $170k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.7% in Bellefontaine — 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 (#213 in OH, #3,316 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Bellefontaine City (town): math 55% / reading 59% proficiency, ranked #348 of 656 in OH (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bellefontaine Elementary School (557 students, 50% FRL); Bellefontaine Middle School (math 55% / reading 54%, grade B-, #342 of 654 statewide, top 54%, 494 students, 45% FRL); Bellefontaine High School (math 42% / reading 67%, grade C-, #303 of 781 statewide, top 42%, 692 students, 41% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 152 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $170,000 (8.1% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $246,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 N Detroit St	0.39mi	4/2.0	2,068 (-6%)	2mo	$125,000	$60	68
320 N Madriver St	0.09mi	4/2.0	2,378 (+8%)	14mo	$275,000	$116	68
301 N Elm St	0.29mi	5/2.0 (+1)	2,024 (-8%)	1mo	$222,000	$110	65
436 E Columbus Ave	0.36mi	4/2.0	2,344 (+6%)	11mo	$272,000	$116	61
230 W Brown Ave	0.27mi	4/2.0	2,391 (+9%)	12mo	$195,000	$82	61
525 N Main St	0.31mi	5/3.0 (+1)	2,448 (+11%)	1mo	$290,000	$118	55
508 Hamilton St	0.57mi	4/1.5	2,352 (+7%)	12mo	$208,500	$89	52
324 W Sandusky Ave	0.20mi	5/2.5 (+1)	2,512 (+14%)	10mo	$272,000	$108	50
228 S Evansville St	0.74mi	3/1.0 (-1)	2,105 (-4%)	6mo	$170,000	$81	46
560 N Park St	0.38mi	4/2.0	1,940 (-12%)	20mo	$300,000	$155	44
921 N Main St	0.72mi	4/2.0	1,920 (-13%)	9mo	$215,000	$112	36
523 Dakota Rd	0.62mi	3/2.5 (-1)	1,948 (-12%)	18mo	$334,900	$172	28

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-26,028
• Equity at exit: $27,569

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-17,521
• Equity at exit: $15,987

Cash invested: $51,772 (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 43311

• Active inventory: 152
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$235 /mo · $2,820/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $61

Break-even live

Break-even rent $1,622

Max offer price $184,900

Occupancy floor 91%

Sensitivity live

Price	-10% $166	-5% $114	+0% $61	+5% $9	+10% $-43
Rent	-10% $-73	-5% $-6	+0% $61	+5% $128	+10% $196
Rate	-1.0pp $154	-0.5pp $108	base $61	+0.5pp $13	+1.0pp $-35

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 N Madriver St Bellefontaine, OH	4.0	1.5	1600	$1,700	$1.06	45d	1	0.30mi

Listing history 5 events

1. 2026-06-22
   days on market $184,900 Active 5 DOM
2. 2026-06-21
   days on market $184,900 Active 4 DOM
3. 2026-06-21
   days on market $184,900 Active 3 DOM
4. 2026-06-18
   remarks 699-char remark
5. 2026-06-18
   listed $184,900 Active 1 DOM

ⓘ 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: $2,820 · $235/mo
• Projected year-2 tax: $2,852 · $238/mo
• Expected delta: +$32/yr (+$3/mo · 1.1%)

ⓘ 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 ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,400
• − Mortgage interest: −$10,357
• − Property taxes: −$2,820
• − Insurance: −$924
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$5,379
• Taxable loss: −$2,345
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $1,299/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: Bellefontaine City
• NCES district ID: 3904358
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $43,270
• Composite: 47.94/100
• National rank: #2207
• State rank: #348 of 656 in OH

Livability — Bellefontaine

• Score: 76/100
• State rank: #213
• US rank: #3316

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellefontaine, OH
• County: Logan · 47,256 people
• City population: 20,074
• Population (ZIP): 20,074
• Household income: $64,217
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 10.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.18%
• Current HPI: 243.9954
• 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

1 event — show timeline

• 2026-06-16 Listed $184,900 WRIST

Property tax history

+9.5%/yr

Latest (2025): $2,820 · +34.8% YoY. Source: county tax records.