South St · Hillsboro, OH 45133

$130,000

4 bd · 3.0 ba · 2,530 sqft · Land · 35 Days on market

Built 1901 $51/sqft · 1218% above area

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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).

• Cash flow +13.7/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located within 1 block of downtown Hillsboro. Identical units, one remodeled.

Key facts

• Remodeled
• Downtown hillsboro
• Built 1901

Tags

• DOWNTOWN HILLSBORO
• REMODELED

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $130k.

Deal economics

• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (11.5% below list).
• Recommended offer: $115k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% in Hillsboro — 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 67/100 on livability (#621 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Hillsboro City (rural): math 66% / reading 73% proficiency, ranked #175 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 20 units permitted in Highland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Highland County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $130k implies a 550% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000 (11.5% 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 35 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (median comp): $9,865
• List price: $130,000
• Delta: 1217.75%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.3%
• Equity multiple: 0.32×
• Total profit: $-24,597
• Equity at exit: $19,383

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-25,804
• Equity at exit: $11,240

Cash invested: $36,400 (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 45133

• Home prices YoY: -19.4%
• Active inventory: 125
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-56

Break-even live

Break-even rent $1,221

Max offer price $121,845

Occupancy floor 100%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
337 N High St Hillsboro, OH	3.0	1.5	2500	$1,150	$0.46	43d	1	0.70mi

Listing history 13 events

1. 2026-06-15
   days on market $130,000 Active 35 DOM
2. 2026-06-13
   days on market $130,000 Active 33 DOM
3. 2026-06-12
   days on market $130,000 Active 32 DOM
4. 2026-06-09
   days on market $130,000 Active 29 DOM
5. 2026-06-08
   days on market $130,000 Active 28 DOM
6. 2026-06-08
   days on market $130,000 Active 27 DOM
7. 2026-06-07
   days on market $130,000 Active 26 DOM
8. 2026-06-04
   days on market $130,000 Active 23 DOM
9. 2026-06-02
   days on market $130,000 Active 22 DOM
10. 2026-06-01
    days on market $130,000 Active 21 DOM
11. 2026-05-31
    days on market $130,000 Active 20 DOM
12. 2026-05-12
    listed $130,000 Active 77-char remark
13. 2022-09-27
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,800
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$3,782
• Taxable loss: −$2,869
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $12/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: Hillsboro City
• NCES district ID: 3904412
• Math proficiency: 66% ▬ 0.00%
• Reading proficiency: 73% ▲ 1.00%
• Median HH income: $37,342
• Composite: 57.72/100
• National rank: #1056
• State rank: #175 of 656 in OH

Livability — Hillsboro

• Score: 67/100
• State rank: #621
• US rank: #10783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OH
• County: Highland · 42,279 people
• Population (ZIP): 23,604
• Household income: $58,813
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 15.9

Population outlook (Highland County) Hauer SSP2

• Today (2025): 41,165 people
• By 2030: 39,726 · -3.5%
• By 2040: 36,377 · -11.6%
• By 2050: 32,572 · -20.9%
• By 2075: 23,690 · -42.5%
• By 2100: 16,220 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Serbian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Highland

• 2024 margin: Solid R (+63.4) · D 18.1% · R 81.4%
• 2008→2024 swing: -37.0pp toward R · 2008: -26.3pp · 2024: -63.4pp
• All cycles: 2024: R+63.4 2020: R+60.4 2016: R+56.1 2012: R+30.7 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.94%
• Current HPI: 278.012
• 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

• 2022-09-27 Sold (Public Records) $20,000 Public Records

Property tax history

+3.9%/yr

Latest (2022): $22 · +4.3% YoY. Source: county tax records.