54 S School St · Millersburg, OH 44654

$215,000

3 bd · 2.0 ba · 1,418 sqft · SingleFamily public records · 2 Days on market

Built 1935 0.29 ac lot Est $187k · 15% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• 1% rule +0.6/10.0
• DSCR +0.6/10.0

Listing remarks

Fall in love with the perfect blend of historic character and modern convenience. This 4-bedroom, 2-bath gem welcomes you with beautifully restored hardwood floors that shine throughout the main level. The formal dining room has elegant French doors that open to a sun-drenched bonus living space. The updated kitchen is ready for the home chef, featuring contemporary finishes. The upstairs has three spacious bedrooms and a full bath, or head to the versatile lower level. This walk-out basement includes a cozy recreation room, a fourth bedroom with natural light, and a second full bath—ideal for a guest suite or private office. Outside, the expansive backyard and large deck offers plent

Key facts

• Large deck
• French doors
• Walk-out basement

Tags

• HARDWOOD FLOORS
• FRENCH DOORS
• UPDATED KITCHEN
• WALK-OUT BASEMENT
• EXPANSIVE BACKYARD
• LARGE DECK

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story property
• Construction: Vinyl siding; Asphalt fiberglass roof
• Exterior features: Front porch; Lot approximately 0.29 acres

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Finished basement with walk-out access
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-385 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (44.4% below list).
• Recommended offer: $120k (44.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#445 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• West Holmes Local (rural): math 60% / reading 62% proficiency, ranked #283 of 656 in OH (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; solid renter incomes; 8 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Holmes County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $150k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,561 (44.4% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.56% ✗
• Cap rate: 4.15%
• Cash-on-cash: -7.67%
• DSCR: 0.66
• GRM: 15.0

CMA / ARV

• ARV (on-the-fly): $187,176
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Fairview Ave	0.06mi	3/1.0	1,344 (-5%)	2mo	$140,000	$104	83
284 S Alexander St	0.13mi	3/1.5	1,344 (-5%)	10mo	$236,000	$176	75
733 Critchfield St	0.53mi	3/2.0	1,434 (+1%)	4mo	$130,000	$91	71
46 S Crawford St	0.13mi	4/1.0 (+1)	1,624 (+14%)	2mo	$165,000	$102	59
17 Cliff Ln	0.38mi	3/2.5	1,322 (-7%)	14mo	$282,500	$214	57
120 Miller Dr	0.34mi	2/2.0 (-1)	1,350 (-5%)	18mo	$200,000	$148	56
622 Elm St	0.60mi	3/2.0	1,288 (-9%)	4mo	$255,000	$198	54
898 E Jackson St	0.49mi	3/1.0	1,328 (-6%)	12mo	$95,000	$72	53
102 Brambly Hedge Dr	0.27mi	2/2.0 (-1)	1,214 (-14%)	13mo	$160,000	$132	47
609 S Washington St	0.42mi	3/1.5	1,292 (-9%)	22mo	$155,000	$120	45
208 Northern Dr	0.70mi	3/2.5	1,236 (-13%)	2mo	$306,000	$248	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.54×
• Total profit: $92,515
• Equity at exit: $193,689

10-year hold

• IRR: 17.5%
• Equity multiple: 5.84×
• Total profit: $291,554
• Equity at exit: $417,698

Cash invested: $60,200 (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 44654

• Home prices YoY: 4.3%
• Active inventory: 61
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,196 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$112 /mo · $1,346/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-385

Break-even live

Break-even rent $1,683

Max offer price $147,042

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-05-03
   listed $215,000 Active
3. 2023-09-11
   soldstatus $150,000
4. 2001-07-31
   soldstatus $78,500
5. 2000-10-04
   soldstatus $78,000

ⓘ 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: $1,346 · $112/mo
• Projected year-2 tax: $2,350 · $196/mo
• Expected delta: +$1,004/yr (+$84/mo · 74.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,347
• − Mortgage interest: −$12,043
• − Property taxes: −$1,346
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$6,255
• Taxable loss: −$8,667
• Est. tax savings @ 24.0%: +$2,080
• After-tax cash flow: $-2,536/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: West Holmes Local
• NCES district ID: 3904769
• Math proficiency: 60% ▼ -12.00%
• Reading proficiency: 62% ▼ -7.00%
• Median HH income: $46,531
• Composite: 51.57/100
• National rank: #1711
• State rank: #283 of 656 in OH

Livability — Millersburg

• Score: 71/100
• State rank: #445
• US rank: #7306

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millersburg, OH
• County: Holmes · 38,872 people
• Population (ZIP): 20,329
• Household income: $75,195
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 4.3

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 44,801 people
• By 2030: 45,021 · +0.5%
• By 2040: 44,857 · +0.1%
• By 2050: 43,040 · -3.9%
• By 2075: 33,122 · -26.1%
• By 2100: 17,241 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1%
• Common ancestry: Polish 9% Italian 3% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 54% English-only · German/W. Germanic 45%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+69.2) · D 15.0% · R 84.2%
• 2008→2024 swing: -27.9pp toward R · 2008: -41.2pp · 2024: -69.2pp
• All cycles: 2024: R+69.2 2020: R+68.0 2016: R+62.9 2012: R+52.8 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.03%
• Current HPI: 268.0336
• 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

+175.6% since first listed

5 events — show timeline

• 2026-05-06 Pending — MLSNOW
• 2026-05-03 Listed $215,000 MLSNOW
• 2023-09-11 Sold (Public Records) $150,000 Public Records
• 2001-07-31 Sold (Public Records) $78,500 Public Records
• 2000-10-04 Sold (Public Records) $78,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,346 · +0.0% YoY. Source: county tax records.