430 E Main St · Newark, OH 43055

$229,900

3 bd · 3.5 ba · 1,635 sqft · MultiFamily public records · 48 Days on market

Built 1905 6,969 sqft lot

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fully rehabbed and rented three-unit multi-family property. 2 bed, 2 bath unit on main floor rents for $1,200/month (lease through Jan 2023). 2 bed, 1 bath unit upstairs rents for $830/month (Metro pays rent, lease through Dec 2022). Efficiency unit in back rents for $200/month (month to month), and tenant does lawn maintenance for the property in exchange for low rent. New furnace installed in Dec 2021. Private parking in rear and additional on street parking in front. Small fenced in backyard with pond and grill space. LED lights in parking area come on at night to see vehicles for safety. Curb offers only. Do not disturb tenants.

Key facts

• Private parking area
• Efficiency apartment
• Completely remodeled

Tags

• TRIPLEX
• EFFICIENCY APARTMENT
• COMPLETELY REMODELED
• NEWER FRIDGE
• PRIVATE PARKING AREA
• FENCED YARD

Property features AI

Finance

• Other: Standard listing conditions; Tax information available for 2025
• Financial info: Owner pays gas, sewer, and water

Exterior

• Parking: Parking for 4 vehicles
• Utilities: Public sewer
• Home design: Midrise property; Built in 1905
• Construction: Year built 1905
• Exterior features: Lot approximately 0.16 acres (about 6,969.6 sq ft); Corner location at Cedar (cross street)

Interior

• Heating & cooling: Forced air heating; Central cooling
• Interior features: Forced air heating; Central cooling; Three-unit building

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive. Per door: $181/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).
• At $2,545/mo this rent would consume 48% of the median local household income ($64k/yr) (locally 2269% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 6y ago 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.
• Current owner paid $162k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1905 — 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. 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. 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: 1.11% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $120,990
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351-353 Barclay St	0.38mi	4/— (+1)	1,800 (+10%)	10mo	$133,000	$74	52
191 N Cedar St	0.38mi	4/— (+1)	1,840 (+12%)	17mo	$203,500	$111	42
116 Fleek Ave	0.73mi	3/—	1,476 (-10%)	16mo	$56,000	$38	36

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-6,152
• Equity at exit: $34,279

10-year hold

• IRR: 5.6%
• Equity multiple: 1.39×
• Total profit: $25,232
• Equity at exit: $19,878

Cash invested: $64,372 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $2,545 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$166 /mo · $1,991/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $543

Break-even live

Break-even rent $1,857

Max offer price $229,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,544
Total (3 units)			$2,545

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
388 Indiana St Newark, OH	2.0	1.0	1200	$1,100	$0.92	2d	1	0.29mi
32 Monroe Ave Newark, OH	4.0	1.5	1512	$1,889	$1.25	44d	1	0.40mi
27 N Buena Vista St Newark, OH	3.0	2.0	1500	$1,300	$0.87	11d	1	0.53mi
150 N 1st St Newark, OH	3.0	1.0	1467	$1,300	$0.89	17d	1	0.87mi
63 N 4th St Newark, OH	3.0	1.0	1300	$1,350	$1.04	3d	1	1.15mi
63 N 4th St Unit 302 Newark, OH	3.0	1.0	1300	$1,350	$1.04	4d	1	1.15mi
71 W Locust St Newark, OH	2.0	1.0	1371	$1,225	$0.89	24d	1	1.21mi
86 Wilwood Ave Newark, OH	3.0	1.0	1205	$1,595	$1.32	2d	1	1.27mi
33 Jefferson St Newark, OH	2.0	1.0	1200	$1,300	$1.08	12d	1	1.42mi
8 N 8th St Unit 2 Newark, OH	3.0	1.0	1400	$1,400	$1.00	24d	1	1.49mi

Listing history 46 events

1. 2026-06-18
   days on market $229,900 Active 48 DOM
2. 2026-06-17
   days on market $229,900 Active 47 DOM
3. 2026-06-16
   days on market $229,900 Active 46 DOM
4. 2026-06-15
   days on market $229,900 Active 45 DOM
5. 2026-06-13
   days on market $229,900 Active 43 DOM
6. 2026-06-13
   pricedays on market $229,900 Active 42 DOM
7. 2026-06-09
   days on market $234,900 Active 39 DOM
8. 2026-06-08
   days on market $234,900 Active 38 DOM
9. 2026-06-07
   days on market $234,900 Active 37 DOM
10. 2026-06-05
    days on market $234,900 Active 34 DOM
11. 2026-06-03
    days on market $234,900 Active 33 DOM
12. 2026-06-02
    days on market $234,900 Active 32 DOM
13. 2026-06-02
    price $234,900 Active 31 DOM
14. 2026-06-01
    days on market $239,900 Active 31 DOM
15. 2026-05-31
    days on market $239,900 Active 30 DOM
16. 2026-05-08
    status Active
17. 2026-05-06
    historical Contingent
18. 2026-05-01
    listed $239,900 Active
19. 2025-11-25
    historical
20. 2025-08-26
    price $229,900
21. 2025-08-02
    status Active
22. 2025-07-29
    historical Contingent
23. 2025-07-18
    price $234,900
24. 2025-06-28
    listed $239,900 Active
25. 2022-06-24
    soldstatus $162,000 Closed 641-char remark

    Show marketing remark (641 chars)

    Fully rehabbed and rented three-unit multi-family property. 2 bed, 2 bath unit on main floor rents for $1,200/month (lease through Jan 2023). 2 bed, 1 bath unit upstairs rents for $830/month (Metro pays rent, lease through Dec 2022). Efficiency unit in back rents for $200/month (month to month), and tenant does lawn maintenance for the property in exchange for low rent. New furnace installed in Dec 2021. Private parking in rear and additional on street parking in front. Small fenced in backyard with pond and grill space. LED lights in parking area come on at night to see vehicles for safety. Curb offers only. Do not disturb tenants.

26. 2022-06-06
    status Pending 641-char remark

    Show marketing remark (641 chars)

    Fully rehabbed and rented three-unit multi-family property. 2 bed, 2 bath unit on main floor rents for $1,200/month (lease through Jan 2023). 2 bed, 1 bath unit upstairs rents for $830/month (Metro pays rent, lease through Dec 2022). Efficiency unit in back rents for $200/month (month to month), and tenant does lawn maintenance for the property in exchange for low rent. New furnace installed in Dec 2021. Private parking in rear and additional on street parking in front. Small fenced in backyard with pond and grill space. LED lights in parking area come on at night to see vehicles for safety. Curb offers only. Do not disturb tenants.

27. 2022-05-12
    historical Contingent Finance and Inspection 641-char remark

    Show marketing remark (641 chars)

    Fully rehabbed and rented three-unit multi-family property. 2 bed, 2 bath unit on main floor rents for $1,200/month (lease through Jan 2023). 2 bed, 1 bath unit upstairs rents for $830/month (Metro pays rent, lease through Dec 2022). Efficiency unit in back rents for $200/month (month to month), and tenant does lawn maintenance for the property in exchange for low rent. New furnace installed in Dec 2021. Private parking in rear and additional on street parking in front. Small fenced in backyard with pond and grill space. LED lights in parking area come on at night to see vehicles for safety. Curb offers only. Do not disturb tenants.

28. 2022-05-09
    listed $185,000 Active 641-char remark

    Show marketing remark (641 chars)

    Fully rehabbed and rented three-unit multi-family property. 2 bed, 2 bath unit on main floor rents for $1,200/month (lease through Jan 2023). 2 bed, 1 bath unit upstairs rents for $830/month (Metro pays rent, lease through Dec 2022). Efficiency unit in back rents for $200/month (month to month), and tenant does lawn maintenance for the property in exchange for low rent. New furnace installed in Dec 2021. Private parking in rear and additional on street parking in front. Small fenced in backyard with pond and grill space. LED lights in parking area come on at night to see vehicles for safety. Curb offers only. Do not disturb tenants.

29. 2021-10-30
    historical
30. 2021-10-06
    price $115,900
31. 2021-09-03
    status Active
32. 2021-08-25
    historical Contingent Finance and Inspection
33. 2021-08-19
    price $119,900
34. 2021-08-06
    price $129,900
35. 2021-08-05
    status Active
36. 2021-06-13
    historical Contingent Finance and Inspection
37. 2021-06-13
    historical
38. 2021-05-27
    status Active
39. 2021-05-16
    historical Contingent Finance and Inspection
40. 2021-05-14
    listed $119,900 Active
41. 2020-05-22
    soldstatus $69,900
42. 2020-05-15
    soldstatus $69,900 Closed
43. 2020-05-13
    status Pending
44. 2020-04-23
    historical Contingent Finance and Inspection
45. 2020-04-20
    listed $69,900 Active
46. 1988-03-03
    soldstatus $18,000

ⓘ 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: $1,991 · $166/mo
• Projected year-2 tax: $2,789 · $232/mo
• Expected delta: +$798/yr (+$66/mo · 40.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $30,540
• − Mortgage interest: −$12,878
• − Property taxes: −$1,991
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,443
• − Management: −$2,443
• − Depreciation: −$6,688
• Taxable income: $2,947
• Est. tax owed @ 24.0%: −$707
• After-tax cash flow: $5,811/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: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, OH
• 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

+1232.8% since first listed

31 events — show timeline

• 2026-05-08 Relisted — CBRMLS
• 2026-05-06 Contingent — CBRMLS
• 2026-05-01 Listed $239,900 CBRMLS
• 2025-11-25 Listing Removed — CBRMLS
• 2025-08-26 Price Changed $229,900 CBRMLS
• 2025-08-02 Relisted — CBRMLS
• 2025-07-29 Contingent — CBRMLS
• 2025-07-18 Price Changed $234,900 CBRMLS
• 2025-06-28 Listed $239,900 CBRMLS
• 2022-06-24 Sold (MLS) $162,000 CBRMLS
• 2022-06-06 Pending — CBRMLS
• 2022-05-12 Contingent — CBRMLS
• 2022-05-09 Listed $185,000 CBRMLS
• 2021-10-30 Listing Removed — CBRMLS
• 2021-10-06 Price Changed $115,900 CBRMLS
• 2021-09-03 Relisted — CBRMLS
• 2021-08-25 Contingent — CBRMLS
• 2021-08-19 Price Changed $119,900 CBRMLS
• 2021-08-06 Price Changed $129,900 CBRMLS
• 2021-08-05 Relisted — CBRMLS
• 2021-06-13 Contingent — CBRMLS
• 2021-06-13 Listing Removed — CBRMLS
• 2021-05-27 Relisted — CBRMLS
• 2021-05-16 Contingent — CBRMLS
• 2021-05-14 Listed $119,900 CBRMLS
• 2020-05-22 Sold (Public Records) $69,900 Public Records
• 2020-05-15 Sold (MLS) $69,900 CBRMLS
• 2020-05-13 Pending — CBRMLS
• 2020-04-23 Contingent — CBRMLS
• 2020-04-20 Listed $69,900 CBRMLS
• 1988-03-03 Sold (Public Records) $18,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,991 · +2.6% YoY. Source: county tax records.