116 N Spring St · Bucyrus, OH 44820

$65,000

2 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 56 Days on market

Built 1930 $50/sqft · 48% below area Est $126k · 48% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2- story offers 2 bedrooms, 1.5 baths with the possibility of a 3rd bedroom and second full bath on the first floor. Situated on a corner lot with a convenient location near local amenities. Laundry is conveniently located on the first floor. Fresh paint throughout! Major mechanical updates already completed! In 2013, the home underwent significant improvements including updated PEX plumbing, electrical wiring, panel, furnace, and hot water tank. All but 4 windows have been replaced as well as front and rear entry doors. With so much potential this is a great opportunity to own your next investment property or place to call home.

Key facts

• Replaced windows
• Updated pex plumbing
• Corner lot

Tags

• CORNER LOT
• LAUNDRY ON FIRST FLOOR
• MAJOR MECHANICAL UPDATES
• UPDATED PEX PLUMBING
• UPDATED ELECTRICAL WIRING
• REPLACED WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 4.4% in Bucyrus — 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 78/100 on livability (#158 in OH, #2,388 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Bucyrus City (town): math 37% / reading 46% proficiency, ranked #537 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Crawford 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 $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $65k implies a 550% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.58%
• DSCR: 1.96
• GRM: 5.9

CMA / ARV

• ARV (median comp): $126,149
• List price: $65,000
• Delta: -48.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 W Center St	0.56mi	2/1.0	1,288 (-1%)	1mo	$107,000	$83	72
414 River St	0.24mi	3/2.0 (+1)	1,360 (+5%)	1mo	$187,000	$138	71
703 S Poplar St	0.56mi	2/1.0	1,272 (-2%)	7mo	$139,900	$110	65
325 W Liberty St	0.44mi	3/1.0 (+1)	1,222 (-6%)	2mo	$170,000	$139	63
301 E Charles St	0.43mi	3/1.0 (+1)	1,344 (+4%)	9mo	$45,000	$33	61
112 Iron St	0.48mi	3/2.0 (+1)	1,352 (+4%)	3mo	$154,550	$114	59
926 Maple St	0.75mi	3/1.0 (+1)	1,278 (-1%)	4mo	$100,000	$78	54
231 E Rensselaer St	0.32mi	3/2.0 (+1)	1,464 (+13%)	2mo	$66,000	$45	53
444 Woodlawn Ave	0.55mi	3/2.0 (+1)	1,392 (+7%)	4mo	$98,000	$70	49
603 Kaler Ave	0.49mi	2/1.5	1,126 (-13%)	8mo	$118,000	$105	46
221 W Oakwood Ave	0.62mi	3/2.5 (+1)	1,359 (+5%)	8mo	$205,000	$151	45
319 S Sheckler St	0.70mi	3/1.0 (+1)	1,424 (+10%)	7mo	$35,000	$25	40

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: 14.1%
• Equity multiple: 1.57×
• Total profit: $10,295
• Equity at exit: $9,692

10-year hold

• IRR: 22.9%
• Equity multiple: 2.96×
• Total profit: $35,744
• Equity at exit: $5,620

Cash invested: $18,200 (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 44820

• Home prices YoY: -27.1%
• Active inventory: 81
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $925 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$36 /mo · $427/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $327

Break-even live

Break-even rent $511

Max offer price $65,000

Occupancy floor 60%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Heritage Cir Unit 104 Bucyrus, OH	3.0	1.0	950	$925	$0.97	43d	1	1.50mi

Listing history 15 events

1. 2026-06-14
   status $65,000 Pending 56 DOM
2. 2026-06-13
   days on market $65,000 Active 56 DOM
3. 2026-06-12
   days on market $65,000 Active 55 DOM
4. 2026-06-09
   pricedays on market $65,000 Active 52 DOM
5. 2026-06-08
   days on market $69,900 Active 51 DOM
6. 2026-06-07
   days on market $69,900 Active 50 DOM
7. 2026-06-05
   days on market $69,900 Active 48 DOM
8. 2026-06-04
   days on market $69,900 Active 46 DOM
9. 2026-06-02
   days on market $69,900 Active 45 DOM
10. 2026-06-01
    days on market $69,900 Active 44 DOM
11. 2026-05-31
    days on market $69,900 Active 43 DOM
12. 2026-05-11
    price $75,000 652-char remark

    Show marketing remark (652 chars)

    This charming 2- story offers 2 bedrooms, 1.5 baths with the possibility of a 3rd bedroom and second full bath on the first floor. Situated on a corner lot with a convenient location near local amenities. Laundry is conveniently located on the first floor. Fresh paint throughout! Major mechanical updates already completed! In 2013, the home underwent significant improvements including updated PEX plumbing, electrical wiring, panel, furnace, and hot water tank. All but 4 windows have been replaced as well as front and rear entry doors. With so much potential this is a great opportunity to own your next investment property or place to call home.

13. 2026-04-18
    listed $79,500 Active 652-char remark

    Show marketing remark (652 chars)

    This charming 2- story offers 2 bedrooms, 1.5 baths with the possibility of a 3rd bedroom and second full bath on the first floor. Situated on a corner lot with a convenient location near local amenities. Laundry is conveniently located on the first floor. Fresh paint throughout! Major mechanical updates already completed! In 2013, the home underwent significant improvements including updated PEX plumbing, electrical wiring, panel, furnace, and hot water tank. All but 4 windows have been replaced as well as front and rear entry doors. With so much potential this is a great opportunity to own your next investment property or place to call home.

14. 2009-09-15
    soldstatus $10,000
15. 2002-08-16
    soldstatus $24,725

ⓘ 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: $427 · $36/mo
• Projected year-2 tax: $720 · $60/mo
• Expected delta: +$294/yr (+$24/mo · 68.8%)

ⓘ 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 · 17 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: $11,100
• − Mortgage interest: −$3,641
• − Property taxes: −$427
• − Insurance: −$325
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$1,891
• Taxable income: $3,040
• Est. tax owed @ 24.0%: −$730
• After-tax cash flow: $3,197/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: Bucyrus City
• NCES district ID: 3904368
• Math proficiency: 37% ▼ -15.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $36,819
• Composite: 34.45/100
• National rank: #5196
• State rank: #537 of 656 in OH

Livability — Bucyrus

• Score: 78/100
• State rank: #158
• US rank: #2388

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: Bucyrus, OH
• County: Crawford · 26,873 people
• City population: 17,265
• Population (ZIP): 17,265
• Household income: $56,942
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 8.2

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,421 people
• By 2030: 37,656 · -4.5%
• By 2040: 34,043 · -13.6%
• By 2050: 30,617 · -22.3%
• By 2075: 23,652 · -40.0%
• By 2100: 17,786 · -54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+53.0) · D 23.1% · R 76.1%
• 2008→2024 swing: -33.9pp toward R · 2008: -19.0pp · 2024: -53.0pp
• All cycles: 2024: R+53.0 2020: R+50.9 2016: R+46.8 2012: R+22.7 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.64%
• Current HPI: 176.3548
• 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

+203.3% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $75,000 MARMLS
• 2026-04-18 Listed $79,500 MARMLS
• 2009-09-15 Sold (Public Records) $10,000 Public Records
• 2002-08-16 Sold (Public Records) $24,725 Public Records

Property tax history

+2.5%/yr

Latest (2025): $427 · -1.3% YoY. Source: county tax records.