908 N 5th St · Ironton, OH 45638

$30,000

4 bd · 1.0 ba · 1,805 sqft · SingleFamily public records · 23 Days on market

Built 1890 8,712 sqft lot Est $60k · 50% under ↓ 40% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity. Rehab or tear down to build Multi units. .20 Acre lot. Cash Only!

Key facts

• 8,712 sq ft lot
• Built 1890
• Listed 22 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2-story
• Construction: Aluminum siding; Shingle roof
• Exterior features: Front porch; Level to sloped lot

Interior

• Bathrooms: 1 full bathroom
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.6% vs local median 5.1% in Ironton — 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 72/100 on livability (#354 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment D-.
• Ironton City School District (suburban): math 54% / reading 58% proficiency, ranked #382 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 84 active listings in the ZIP; 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/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 $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Lawrence County population projected at -22% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 4.25% ✓
• Cap rate: 36.61%
• Cash-on-cash: 108.26%
• DSCR: 5.82
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $59,565
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 S 8th St	0.66mi	3/2.5 (-1)	1,791 (-1%)	6mo	$185,000	$103	52
617 Lawrence St	0.47mi	3/1.0 (-1)	1,656 (-8%)	21mo	$55,000	$33	42
116 N 5th St	0.56mi	3/1.5 (-1)	1,614 (-11%)	21mo	$54,000	$33	32

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: —
• Equity multiple: 6.17×
• Total profit: $43,450
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 12.93×
• Total profit: $100,171
• Equity at exit: $2,594

Cash invested: $8,400 (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 45638

• Home prices YoY: -19.6%
• Active inventory: 84
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $758

Break-even live

Break-even rent $317

Max offer price $30,000

Occupancy floor 36%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $30,000 Active 23 DOM
2. 2026-06-17
   days on market $30,000 Active 22 DOM
3. 2026-06-16
   days on market $30,000 Active 21 DOM
4. 2026-06-15
   days on market $30,000 Active 20 DOM
5. 2026-06-13
   days on market $30,000 Active 18 DOM
6. 2026-06-12
   days on market $30,000 Active 17 DOM
7. 2026-06-09
   days on market $30,000 Active 14 DOM
8. 2026-06-08
   days on market $30,000 Active 13 DOM
9. 2026-06-08
   days on market $30,000 Active 12 DOM
10. 2026-06-07
    days on market $30,000 Active 11 DOM
11. 2026-06-04
    days on market $30,000 Active 8 DOM
12. 2026-06-02
    days on market $30,000 Active 7 DOM
13. 2026-06-01
    days on market $30,000 Active 6 DOM
14. 2026-05-31
    days on market $30,000 Active 5 DOM
15. 2026-05-26
    listed $30,000 Active
16. 2007-10-18
    soldstatus $50,000

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $964 · $80/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,311
• − Mortgage interest: −$1,680
• − Property taxes: −$964
• − Insurance: −$150
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$873
• Taxable income: $9,194
• Est. tax owed @ 24.0%: −$2,207
• After-tax cash flow: $6,887/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: Ironton City School District
• NCES district ID: 3904414
• Math proficiency: 54% ▼ -10.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $32,999
• Composite: 46.13/100
• National rank: #2505
• State rank: #382 of 656 in OH

Livability — Ironton

• Score: 72/100
• State rank: #354
• US rank: #5718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ironton, OH
• County: Lawrence · 57,020 people
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 19,921
• Household income: $49,544
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 10.7

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 57,915 people
• By 2030: 55,650 · -3.9%
• By 2040: 50,523 · -12.8%
• By 2050: 45,103 · -22.1%
• By 2075: 32,441 · -44.0%
• By 2100: 21,754 · -62.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 1%
• Common ancestry: Slovak 2% Iranian 2% Lithuanian 1%
• Foreign-born: 0%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+50.5) · D 24.4% · R 74.9%
• 2008→2024 swing: -35.2pp toward R · 2008: -15.3pp · 2024: -50.5pp
• All cycles: 2024: R+50.5 2020: R+45.6 2016: R+43.9 2012: R+15.5 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.00%
• Current HPI: 196.7459
• 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

-40.0% since first listed

2 events — show timeline

• 2026-05-26 Listed $30,000 HBRMLS
• 2007-10-18 Sold (Public Records) $50,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $964 · +14.7% YoY. Source: county tax records.