1305 Township Road 1656 · Ashland, OH 44805

$229,000

4 bd · 3.0 ba · 3,069 sqft · SingleFamily public records · 29 Days on market

Built 1869 0.92 ac lot $75/sqft · 33% below area Est $340k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Schools +5.8/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * FALL IN LOVE --> W/ This Rustic Historical Property That Provides A Mix Of Character, Charm, Rich History & An Abundance Of Space W/ Over 3,000 SQ. FT. Which Includes 4 Bdrms & 3 FULL Bathrms! * Attached Oversized 2.5 Car, 728 Sq. Ft. HEATED & Insulated Garage! * Full 1,200 Sq. Ft. Basement * Enjoy Summers Here On An ACRE OF LAND W/ Your Own INGROUND SWIMMING POOL! Large Concrete Pad + Brick Patio For Tons Of Outdoor Furniture & Entertaining! Pergola & Some Wood Fencing. The Property Backs Up To Woods W/ No Neighbor View Behind * Dual Driveways * Walk In To A Foyer W/ Brick Paver Flooring & Barn Side Wood Columns * Straight Ahead Is The Main Living Rm That Is A "WOW" In It's Own Right! BEAMED 23' CEILING!! * Treasure Making Memories W/ The Ambience HUGE Floor To Ceiling BRICK Cooking FIREPLACE!! Prepare Meals Over Open Hot Coals. When All Of Life Is Fast It Is Nice To Unwind W/ A Warm Flickering Fire * Eat In Kitchen W/ Center Island W/ Adorable VAULTED Ceiling Eating & BENCH Seating * Dedicated Pantry Rm For All Of Your Food Storage Needs * Full Bathrm 1st Floor + Another Attached Storage Rm Leads To A SAUNA ROOM!! Full Relaxation * 1st Floor Bdrm Off Of The Garage Currently Used As A Sitting Rm * Stairways To A LOFT Holds 2 Bdrms, 1 With Skylights/Vaulted Ceiling + ENSUITE Full Bathrm! * Natural Wood Floors Throughout * Side Entryway W/ Brick Surround, Skylights (2) & Pendant Lighting Leads Up To A Gracious Size SUNROOM/FAMILY RM W/ Luxury Plank Flooring, WALLS OF WINDOWS + Wood Planked Ceiling! This Is A Huge Entertaining Rm * Off Of This Rm Is The Master Bdrm W/ Vaulted Ceiling, Fan & Double Closets + An Ensuite FULL Master Bathrm * Stained Glass Throughout The Home * Previously Chestnut Grove Church, Later A Murder Mystery Dinner Theater * This Property Will Need Work W/ Endless Possibilities For Use! * ARV & AVM Much Higher * This Is A Home You Will Never Forget & Won't Be Able To Let Go Of! * Newer FURNACE, Sump Pump * SELLING AS-IS, Cash or Conventional Financing * MAKE AN OFFER!!

Key facts

• Eat in kitchen
• Full basement
• Dual driveways

Tags

• INGROUND SWIMMING POOL
• ATTACHED OVERSIZED GARAGE
• FULL BASEMENT
• DUAL DRIVEWAYS
• BEAMED CEILING
• EAT IN KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-267 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (30.3% below list).
• Recommended offer: $160k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.8% in Ashland — 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 (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 125 active listings in the ZIP; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

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.
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1869 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,682 (30.3% 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 1869 — 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: 0.70% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.99%
• DSCR: 0.78
• GRM: 12.0

CMA / ARV

• ARV (median comp): $340,351
• List price: $229,000
• Delta: -32.72%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 Township Road 1656	0.00mi	4/3.0	3,069 (0%)	1mo	$177,000	$58	99

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.26×
• Total profit: $-47,292
• Equity at exit: $34,145

10-year hold

• IRR: -6.9%
• Equity multiple: 0.49×
• Total profit: $-32,706
• Equity at exit: $19,800

Cash invested: $64,120 (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 44805

• Rents YoY: 7.1%
• Active inventory: 125
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$232 /mo · $2,782/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-267

Break-even live

Break-even rent $1,934

Max offer price $181,900

Occupancy floor —

Sensitivity live

Price	-10% $-137	-5% $-202	+0% $-267	+5% $-331	+10% $-396
Rent	-10% $-393	-5% $-330	+0% $-267	+5% $-204	+10% $-140
Rate	-1.0pp $-151	-0.5pp $-208	base $-267	+0.5pp $-326	+1.0pp $-386

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-12
   price $229,000 2132-char remark

   Show marketing remark (2132 chars)

   * * FALL IN LOVE --> W/ This Rustic Historical Property That Provides A Mix Of Character, Charm, Rich History & An Abundance Of Space W/ Over 3,000 SQ. FT. Which Includes 4 Bdrms & 3 FULL Bathrms! * Attached Oversized 2.5 Car, 728 Sq. Ft. HEATED & Insulated Garage! * Full 1,200 Sq. Ft. Basement * Enjoy Summers Here On An ACRE OF LAND W/ Your Own INGROUND SWIMMING POOL! Large Concrete Pad + Brick Patio For Tons Of Outdoor Furniture & Entertaining! Pergola & Some Wood Fencing. The Property Backs Up To Woods W/ No Neighbor View Behind * Dual Driveways * Walk In To A Foyer W/ Brick Paver Flooring & Barn Side Wood Columns * Straight Ahead Is The Main Living Rm That Is A "WOW" In It's Own Right! BEAMED 23' CEILING!! * Treasure Making Memories W/ The Ambience HUGE Floor To Ceiling BRICK Cooking FIREPLACE!! Prepare Meals Over Open Hot Coals. When All Of Life Is Fast It Is Nice To Unwind W/ A Warm Flickering Fire * Eat In Kitchen W/ Center Island W/ Adorable VAULTED Ceiling Eating & BENCH Seating * Dedicated Pantry Rm For All Of Your Food Storage Needs * Full Bathrm 1st Floor + Another Attached Storage Rm Leads To A SAUNA ROOM!! Full Relaxation * 1st Floor Bdrm Off Of The Garage Currently Used As A Sitting Rm * Stairways To A LOFT Holds 2 Bdrms, 1 With Skylights/Vaulted Ceiling + ENSUITE Full Bathrm! * Natural Wood Floors Throughout * Side Entryway W/ Brick Surround, Skylights (2) & Pendant Lighting Leads Up To A Gracious Size SUNROOM/FAMILY RM W/ Luxury Plank Flooring, WALLS OF WINDOWS + Wood Planked Ceiling! This Is A Huge Entertaining Rm * Off Of This Rm Is The Master Bdrm W/ Vaulted Ceiling, Fan & Double Closets + An Ensuite FULL Master Bathrm * Stained Glass Throughout The Home * Previously Chestnut Grove Church, Later A Murder Mystery Dinner Theater * This Property Will Need Work W/ Endless Possibilities For Use! * ARV & AVM Much Higher * This Is A Home You Will Never Forget & Won't Be Able To Let Go Of! * Newer FURNACE, Sump Pump * SELLING AS-IS, Cash or Conventional Financing * MAKE AN OFFER!!

2. 2026-04-21
   listed $249,000 Active 2132-char remark

   Show marketing remark (2132 chars)

   * * FALL IN LOVE --> W/ This Rustic Historical Property That Provides A Mix Of Character, Charm, Rich History & An Abundance Of Space W/ Over 3,000 SQ. FT. Which Includes 4 Bdrms & 3 FULL Bathrms! * Attached Oversized 2.5 Car, 728 Sq. Ft. HEATED & Insulated Garage! * Full 1,200 Sq. Ft. Basement * Enjoy Summers Here On An ACRE OF LAND W/ Your Own INGROUND SWIMMING POOL! Large Concrete Pad + Brick Patio For Tons Of Outdoor Furniture & Entertaining! Pergola & Some Wood Fencing. The Property Backs Up To Woods W/ No Neighbor View Behind * Dual Driveways * Walk In To A Foyer W/ Brick Paver Flooring & Barn Side Wood Columns * Straight Ahead Is The Main Living Rm That Is A "WOW" In It's Own Right! BEAMED 23' CEILING!! * Treasure Making Memories W/ The Ambience HUGE Floor To Ceiling BRICK Cooking FIREPLACE!! Prepare Meals Over Open Hot Coals. When All Of Life Is Fast It Is Nice To Unwind W/ A Warm Flickering Fire * Eat In Kitchen W/ Center Island W/ Adorable VAULTED Ceiling Eating & BENCH Seating * Dedicated Pantry Rm For All Of Your Food Storage Needs * Full Bathrm 1st Floor + Another Attached Storage Rm Leads To A SAUNA ROOM!! Full Relaxation * 1st Floor Bdrm Off Of The Garage Currently Used As A Sitting Rm * Stairways To A LOFT Holds 2 Bdrms, 1 With Skylights/Vaulted Ceiling + ENSUITE Full Bathrm! * Natural Wood Floors Throughout * Side Entryway W/ Brick Surround, Skylights (2) & Pendant Lighting Leads Up To A Gracious Size SUNROOM/FAMILY RM W/ Luxury Plank Flooring, WALLS OF WINDOWS + Wood Planked Ceiling! This Is A Huge Entertaining Rm * Off Of This Rm Is The Master Bdrm W/ Vaulted Ceiling, Fan & Double Closets + An Ensuite FULL Master Bathrm * Stained Glass Throughout The Home * Previously Chestnut Grove Church, Later A Murder Mystery Dinner Theater * This Property Will Need Work W/ Endless Possibilities For Use! * ARV & AVM Much Higher * This Is A Home You Will Never Forget & Won't Be Able To Let Go Of! * Newer FURNACE, Sump Pump * SELLING AS-IS, Cash or Conventional Financing * MAKE AN OFFER!!

3. 2025-11-21
   listed $400,000 Active
4. 2020-08-25
   price $79,900
5. 2017-10-06
   soldstatus $155,000
6. 2017-10-06
   soldstatus $155,000
7. 2017-10-06
   soldstatus $155,000
8. 2017-10-06
   soldstatus $155,000
9. 2017-05-04
   listed $165,000
10. 2017-05-04
    listed $165,000
11. 2017-05-02
    listed $165,000
12. 2013-09-24
    soldstatus $129,000
13. 2013-09-24
    soldstatus $129,000
14. 2013-08-07
    listed $138,900
15. 2002-01-25
    soldstatus $188,000
16. 2001-06-20
    historical
17. 2001-01-20
    listed $329,305
18. 1998-10-20
    price $329,305
19. 1998-10-20
    price $329,305
20. 1998-10-20
    historical
21. 1998-05-01
    listed $329,305
22. 1995-03-11
    historical
23. 1995-03-11
    historical
24. 1994-09-12
    listed $285,000
25. 1994-09-10
    listed $285,000
26. 1993-08-20
    soldstatus $95,000

ⓘ 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: $2,782 · $232/mo
• Projected year-2 tax: $3,177 · $265/mo
• Expected delta: +$395/yr (+$33/mo · 14.2%)

ⓘ 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 ≥97°F today · 16 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: $19,162
• − Mortgage interest: −$12,828
• − Property taxes: −$2,782
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$6,662
• Taxable loss: −$7,320
• Est. tax savings @ 24.0%: +$1,757
• After-tax cash flow: $-1,443/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, 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

+141.1% since first listed

26 events — show timeline

• 2026-05-12 Price Changed $229,000 MLSNOW
• 2026-04-21 Listed $249,000 MLSNOW
• 2025-11-21 Listed $400,000 MARMLS
• 2020-08-25 Price Changed $79,900 MLSNOW
• 2017-10-06 Sold (Public Records) $155,000 Public Records
• 2017-10-06 Sold (MLS) $155,000 ABOR
• 2017-10-06 Sold (MLS) $155,000 MLSNOW
• 2017-10-06 Sold (MLS) $155,000 MARMLS
• 2017-05-04 Listed $165,000 ABOR
• 2017-05-04 Listed $165,000 MARMLS
• 2017-05-02 Listed $165,000 MLSNOW
• 2013-09-24 Sold (Public Records) $129,000 Public Records
• 2013-09-24 Sold (MLS) $129,000 ABOR
• 2013-08-07 Listed $138,900 ABOR
• 2002-01-25 Sold (Public Records) $188,000 Public Records
• 2001-06-20 Listing Removed — MLSNOW
• 2001-01-20 Listed $329,305 MLSNOW
• 1998-10-20 Listing Removed — MLSNOW
• 1998-10-20 Price Changed $329,305 MLSNOW
• 1998-10-20 Price Changed $329,305 MLSNOW
• 1998-05-01 Listed $329,305 MLSNOW
• 1995-03-11 Listing Removed — MLSNOW
• 1995-03-11 Listing Removed — MLSNOW
• 1994-09-12 Listed $285,000 MLSNOW
• 1994-09-10 Listed $285,000 MLSNOW
• 1993-08-20 Sold (Public Records) $95,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,782 · +0.0% YoY. Source: county tax records.