374 Raffensperger Ave · Springfield, OH 45505

$79,000

2 bd · 2.0 ba · 1,760 sqft · SingleFamily public records · 1 Days on market

Built 1916 8,712 sqft lot Est $139k · 43% 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 +9.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1916

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Cap rate 11.2% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 158 active listings in the ZIP; lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 32% of the median local income ($44k/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 $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,000

Questions for the listing agent

1. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.47% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $139,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 S Clairmont Ave	0.23mi	3/2.0 (+1)	1,848 (+5%)	16mo	$40,000	$22	62
351 S Clairmont Ave	0.15mi	3/1.5 (+1)	1,522 (-14%)	8mo	$100,000	$66	57
372 S Douglas Ave	0.25mi	2/1.0	1,529 (-13%)	8mo	$90,000	$59	55
2640 Maplewood Ave	0.48mi	3/1.0 (+1)	1,652 (-6%)	13mo	$125,000	$76	48
248 S Hubert Ave	0.43mi	3/1.0 (+1)	1,504 (-14%)	1mo	$65,000	$43	46
207 W Roseland Ave	0.68mi	3/1.0 (+1)	1,630 (-7%)	3mo	$210,000	$129	44
1626 Irwin Ave	0.57mi	3/1.0 (+1)	1,648 (-6%)	13mo	$150,000	$91	43
2216 E High St	0.35mi	3/1.0 (+1)	1,532 (-13%)	15mo	$201,400	$131	40
516 Belleaire Ave	0.75mi	3/2.0 (+1)	1,666 (-5%)	14mo	$105,000	$63	40
317 E Roseland Ave	0.74mi	2/2.0	1,608 (-9%)	17mo	$159,000	$99	36
1624 Highland Ave	0.73mi	3/2.0 (+1)	1,536 (-13%)	7mo	$122,000	$79	34
327 W Roseland Ave	0.73mi	3/1.0 (+1)	1,498 (-15%)	13mo	$185,000	$123	21

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $7,748
• Equity at exit: $11,779

10-year hold

• IRR: 18.1%
• Equity multiple: 2.51×
• Total profit: $33,336
• Equity at exit: $6,830

Cash invested: $22,120 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$146 /mo · $1,747/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $322

Break-even live

Break-even rent $750

Max offer price $79,000

Occupancy floor 67%

Sensitivity live

Price	-10% $367	-5% $344	+0% $322	+5% $300	+10% $277
Rent	-10% $230	-5% $276	+0% $322	+5% $368	+10% $413
Rate	-1.0pp $362	-0.5pp $342	base $322	+0.5pp $301	+1.0pp $281

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2024-12-02
   status Pending
2. 2021-09-18
   status Pending
3. 2021-09-15
   historical
4. 2021-05-19
   soldstatus $78,500 525-char remark

   Show marketing remark (525 chars)

   Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

5. 2021-05-19
   soldstatus $78,500 Closed 525-char remark

   Show marketing remark (525 chars)

   Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

6. 2021-05-19
   soldstatus $78,500 525-char remark

   Show marketing remark (525 chars)

   Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

7. 2021-03-06
   historical
8. 2021-03-02
   listed $79,000
9. 2021-01-26
   listed $79,000 525-char remark

   Show marketing remark (525 chars)

   Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

10. 2021-01-26
    listed $79,000 525-char remark

    Show marketing remark (525 chars)

    Larger family home! Built in 1916 originally built as a double and was remodeled in 1992. One owner family home since 1979. Newer windows, fresh siding, two furnaces and two full baths upstairs and a half bath on the main floor. The home could easily be converted back to a double for an investor. The master bedroom is two rooms combined, division could be put to make 4 bedrooms. Covered rear patio, large fenced in yard. Beautiful detached two car garage with alley access. Selling AS-IS. Buyer to verify all measurements.

ⓘ 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: $1,747 · $146/mo
• Projected year-2 tax: $1,747 · $146/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,895
• − Mortgage interest: −$4,425
• − Property taxes: −$1,747
• − Insurance: −$395
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$2,298
• Taxable income: $2,806
• Est. tax owed @ 24.0%: −$673
• After-tax cash flow: $3,190/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 19,826
• Household income: $43,819
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 950.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 1% German 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.16%
• Current HPI: 258.9037
• Rent YoY: —
• Metro: Springfield, 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

-0.6% since first listed

10 events — show timeline

• 2024-12-02 Pending — CBRMLS
• 2021-09-18 Pending — CBRMLS
• 2021-09-15 Listing Removed — CBRMLS
• 2021-05-19 Sold (MLS) $78,500 WRIST
• 2021-05-19 Sold (MLS) $78,500 Dayton MLS
• 2021-05-19 Sold (MLS) $78,500 Dayton MLS
• 2021-03-06 Listing Removed — CBRMLS
• 2021-03-02 Listed $79,000 CBRMLS
• 2021-01-26 Listed $79,000 WRIST
• 2021-01-26 Listed $79,000 Dayton MLS

Property tax history

+5.0%/yr

Latest (2025): $1,747 · +11.9% YoY. Source: county tax records.