608 W Front St · Findlay, OH 45840

$174,900

4 bd · 1.5 ba · 1,920 sqft · SingleFamily public records · 82 Days on market

Built 1870 10,001 sqft lot $91/sqft · at area comps Est $171k · at est.

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Why this score? — see what drove the C 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +6.5/15.0
• 1% rule +5.4/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming four-bedroom home perfectly blends timeless character with the modern amenities today's buyers crave. From the moment you step inside, you'll be greeted by stunning, original woodwork that adds a layer of warmth and craftsmanship rarely seen in newer builds. Whether you're looking for a private outdoor oasis or a versatile indoor layout, this property offers the space and "good bones" to make it your own

Key facts

• Original woodwork
• 0.23 acre lot
• 2 garage spots

Tags

• ORIGINAL WOODWORK
• PRIVATE OUTDOOR OASIS
• VERSATILE INDOOR LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.0% in Findlay — 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 81/100 on livability (#98 in OH, #1,496 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Findlay City (town): math 56% / reading 56% proficiency, ranked #357 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• This rent runs 32% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $140k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.04% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (median comp): $171,183
• List price: $174,900
• Delta: 2.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Western Ave	0.09mi	4/1.5	1,856 (-3%)	7mo	$80,000	$43	85
618 Washington St	0.09mi	3/1.5 (-1)	1,814 (-6%)	9mo	$211,000	$116	74
430 Portz Ave	0.32mi	3/2.0 (-1)	1,894 (-1%)	9mo	$180,000	$95	68
512 N Cory St	0.57mi	4/2.0	1,950 (+2%)	4mo	$197,000	$101	65
807 W Main Cross St	0.16mi	3/1.5 (-1)	1,658 (-14%)	1mo	$165,000	$100	64
225 Lima Ave	0.69mi	4/2.0	1,916 (-0%)	6mo	$197,000	$103	61
845 Hurd Ave	0.65mi	3/1.0 (-1)	1,868 (-3%)	0mo	$205,000	$110	58
412 Lima Ave	0.73mi	5/2.0 (+1)	1,930 (+0%)	3mo	$215,000	$111	55
535 W Lima St	0.54mi	4/2.0	2,106 (+10%)	7mo	$263,000	$125	51
224 Defiance Ave	0.61mi	4/2.0	1,716 (-11%)	4mo	$199,900	$116	48
505 N Cory St	0.57mi	3/1.5 (-1)	1,741 (-9%)	8mo	$140,000	$80	46
720 S West St	0.56mi	3/2.0 (-1)	1,728 (-10%)	6mo	$264,276	$153	45

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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.94×
• Total profit: $-2,703
• Equity at exit: $26,078

10-year hold

• IRR: 10.8%
• Equity multiple: 1.94×
• Total profit: $45,853
• Equity at exit: $15,122

Cash invested: $48,972 (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 45840

• Rents YoY: 5.7%
• Active inventory: 219
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,812 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$117 /mo · $1,406/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $324

Break-even live

Break-even rent $1,402

Max offer price $174,900

Occupancy floor 77%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 Lima Ave Findlay, OH	3.0	1.0	1600	$1,595	$1.00	43d	1	0.85mi
606 South St Findlay, OH	3.0	1.0	1351	$1,700	$1.26	43d	1	1.09mi
220 Potomac Dr Bldg 6 Findlay, OH	3.0	2.5	1365	$1,995	$1.46	43d	1	1.30mi

Listing history 11 events

1. 2026-05-31
   status $174,900 Pending 82 DOM
2. 2026-05-31
   days on market $174,900 Active 82 DOM
3. 2026-05-30
   days on market $174,900 Active 81 DOM
4. 2026-04-15
   price $174,900 431-char remark

   Show marketing remark (431 chars)

   This charming four-bedroom home perfectly blends timeless character with the modern amenities today's buyers crave. From the moment you step inside, you'll be greeted by stunning, original woodwork that adds a layer of warmth and craftsmanship rarely seen in newer builds. Whether you're looking for a private outdoor oasis or a versatile indoor layout, this property offers the space and "good bones" to make it your own

5. 2026-03-09
   listed $179,900 Active 431-char remark

   Show marketing remark (431 chars)

   This charming four-bedroom home perfectly blends timeless character with the modern amenities today's buyers crave. From the moment you step inside, you'll be greeted by stunning, original woodwork that adds a layer of warmth and craftsmanship rarely seen in newer builds. Whether you're looking for a private outdoor oasis or a versatile indoor layout, this property offers the space and "good bones" to make it your own

6. 2024-02-01
   historical
7. 2023-11-30
   listed $169,900 Active
8. 2021-11-17
   soldstatus $139,900 Closed
9. 2021-10-04
   historical Contingent
10. 2021-09-27
    listed $139,900 Active
11. 2005-06-03
    soldstatus $103,000

ⓘ 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: $1,406 · $117/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$661/yr (+$55/mo · 47.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% 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: $21,745
• − Mortgage interest: −$9,797
• − Property taxes: −$1,406
• − Insurance: −$874
• − Repairs & maintenance: −$1,740
• − Management: −$1,740
• − Depreciation: −$5,088
• Taxable income: $1,100
• Est. tax owed @ 24.0%: −$264
• After-tax cash flow: $3,628/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: Findlay City
• NCES district ID: 3910000
• Math proficiency: 56% ▼ -11.00%
• Reading proficiency: 56% ▼ -9.00%
• Median HH income: $45,261
• Composite: 47.31/100
• National rank: #2300
• State rank: #357 of 656 in OH

Livability — Findlay

• Score: 81/100
• State rank: #98
• US rank: #1496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Findlay, OH
• County: Hancock County · 54,559 people
• City population: 54,559
• Metro: Findlay, OH
• Population (ZIP): 54,559
• Household income: $68,083
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1540.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,526 people
• By 2030: 77,777 · +0.3%
• By 2040: 76,976 · -0.7%
• By 2050: 74,479 · -3.9%
• By 2075: 65,741 · -15.2%
• By 2100: 52,942 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+38.4) · D 30.2% · R 68.7% · Other 1.1%
• 2008→2024 swing: -15.3pp toward R · 2008: -23.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+37.5 2016: R+40.8 2012: R+28.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.43%
• Current HPI: 194.9132
• Rent YoY: ▲ 5.68%
• Metro: Findlay, 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

+69.8% since first listed

8 events — show timeline

• 2026-04-15 Price Changed $174,900 NORIS
• 2026-03-09 Listed $179,900 NORIS
• 2024-02-01 Listing Removed — NORIS
• 2023-11-30 Listed $169,900 NORIS
• 2021-11-17 Sold (MLS) $139,900 NORIS
• 2021-10-04 Contingent — NORIS
• 2021-09-27 Listed $139,900 NORIS
• 2005-06-03 Sold (Public Records) $103,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,406 · +12.3% YoY. Source: county tax records.