509 Heineman Blvd · Mansfield, OH 44903

$70,000

2 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 18 Days on market

Built 1900 1,742 sqft lot $68/sqft · at area comps Est $73k · 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 +26.1/30.0
• ARV discount +9.6/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located at 509 Heineman Blvd, Mansfield, OH 44903, this 2-bedroom, 1-bath home offers approximately 1,022 sq ft of living space with a functional layout, including one bedroom on the main floor. The home features a full basement providing additional storage and flexibility, along with a living room fireplace that adds character to the space. Included appliances are the oven and refrigerator. Conveniently located near local amenities and major routes in Mansfield. PLEASE ALLOW 48 HOURS for response to any offers

Key facts

• Full basement
• 1,742 sq ft lot
• Built 1900

Tags

• FULL BASEMENT
• LIVING ROOM FIREPLACE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1900; No shared/common walls
• Construction: Built in 1900
• Exterior features: Other foundation

Interior

• Bedrooms: 1 bedroom on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Fireplace (1) with full basement; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($836 rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.3% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richland County population projected at -18% 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 $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $43k; list at $70k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 D 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: 1.19% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.82%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $73,427
• List price: $70,000
• Delta: -4.67%
• 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
230 Rae Ave	0.25mi	2/1.5	1,024 (+0%)	3mo	$149,900	$146	84
10 Gray Ct	0.07mi	2/1.0	924 (-10%)	2mo	$21,300	$23	79
444 W 6th St	0.28mi	3/1.0 (+1)	994 (-3%)	1mo	$79,000	$79	77
190 Dawson Ave	0.57mi	2/1.0	1,044 (+2%)	2mo	$151,000	$145	68
269 Parkway Dr	0.36mi	2/1.0	964 (-6%)	7mo	$90,000	$93	68
460 W Dickson	0.09mi	3/1.5 (+1)	1,100 (+8%)	10mo	$84,000	$76	68
797 Burton Ave	0.56mi	3/1.0 (+1)	1,019 (-0%)	10mo	$95,000	$93	60
194 Rowland Ave	0.17mi	3/1.0 (+1)	1,152 (+13%)	9mo	$130,000	$113	59
135 Fairlawn Ave	0.67mi	3/1.0 (+1)	990 (-3%)	0mo	$105,000	$106	58
447 Spayer Ln	0.31mi	3/1.0 (+1)	875 (-14%)	1mo	$105,000	$120	56
371 Bell St	0.68mi	2/1.0	1,080 (+6%)	6mo	$49,000	$45	53
587 Springmill St	0.69mi	3/1.0 (+1)	1,001 (-2%)	11mo	$75,000	$75	50

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-73
• Equity at exit: $10,437

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $14,484
• Equity at exit: $6,052

Cash invested: $19,600 (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 44903

• Home prices YoY: -27.7%
• Active inventory: 122
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $836 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $177

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 74%

Sensitivity live

Price	-10% $225	-5% $201	+0% $177	+5% $153	+10% $128
Rent	-10% $111	-5% $144	+0% $177	+5% $210	+10% $243
Rate	-1.0pp $212	-0.5pp $195	base $177	+0.5pp $159	+1.0pp $140

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Baldwin Ave Apt 3 Mansfield, OH	1.0	1.0	800	$800	$1.00	44d	1	0.30mi
46 Bartley Ave Unit 46 1/2 Mansfield, OH	1.0	1.0	800	$750	$0.94	44d	1	0.31mi
454 Parnell Dr Mansfield, OH	2.0	1.0	757	$795	$1.05	44d	1	0.66mi
750 Burns St Unit A6 Mansfield, OH	2.0	1.0	960	$950	$0.99	44d	1	0.86mi
640 King St Mansfield, OH	1.0–3.0	1.0	938	$938	$1.00	44d	11	0.88mi
776 King St Unit B7 Mansfield, OH	2.0	1.0	960	$950	$0.99	44d	1	0.93mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	44d	1	1.04mi

Listing history 21 events

1. 2026-06-19
   days on market $70,000 Active 18 DOM
2. 2026-06-18
   days on market $70,000 Active 17 DOM
3. 2026-06-17
   days on market $70,000 Active 16 DOM
4. 2026-06-16
   days on market $70,000 Active 15 DOM
5. 2026-06-15
   days on market $70,000 Active 14 DOM
6. 2026-06-14
   days on market $70,000 Active 12 DOM
7. 2026-06-12
   days on market $70,000 Active 11 DOM
8. 2026-06-09
   days on market $70,000 Active 8 DOM
9. 2026-06-08
   days on market $70,000 Active 7 DOM
10. 2026-06-07
    days on market $70,000 Active 6 DOM
11. 2026-06-05
    days on market $70,000 Active 3 DOM
12. 2026-06-03
    days on market $70,000 Active 2 DOM
13. 2026-06-01
    days on marketlisting id $70,000 Active 1 DOM

    Show marketing remark (516 chars)

    Located at 509 Heineman Blvd, Mansfield, OH 44903, this 2-bedroom, 1-bath home offers approximately 1,022 sq ft of living space with a functional layout, including one bedroom on the main floor. The home features a full basement providing additional storage and flexibility, along with a living room fireplace that adds character to the space. Included appliances are the oven and refrigerator. Conveniently located near local amenities and major routes in Mansfield. PLEASE ALLOW 48 HOURS for response to any offers

14. 2026-05-31
    days on market $70,000 Active 52 DOM
15. 2026-05-30
    days on market $70,000 Active 51 DOM
16. 2026-04-10
    listed $70,000 Active 579-char remark
17. 2024-09-06
    soldstatus $43,000 Closed 967-char remark
18. 2024-08-27
    status Pending 967-char remark
19. 2024-08-20
    price $49,900 967-char remark
20. 2024-08-05
    price $52,500 967-char remark
21. 2024-07-26
    listed $54,900 Active 967-char remark

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,033
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$803
• − Management: −$803
• − Depreciation: −$2,036
• Taxable income: $1,070
• Est. tax owed @ 24.0%: −$257
• After-tax cash flow: $1,864/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 26,804
• Household income: $65,421
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 9.5

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Black 9% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.50%
• Current HPI: 241.9342
• 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

+27.5% since first listed

9 events — show timeline

• 2026-06-01 Listed $70,000 MARMLS
• 2026-06-01 Listed $70,000 CBRMLS
• 2026-06-01 Listed $70,000 MLSNOW
• 2026-04-10 Listed $70,000 MARMLS
• 2024-09-06 Sold (MLS) $43,000 MARMLS
• 2024-08-27 Pending — MARMLS
• 2024-08-20 Price Changed $49,900 MARMLS
• 2024-08-05 Price Changed $52,500 MARMLS
• 2024-07-26 Listed $54,900 MARMLS

Property tax history

-18.7%/yr

Latest (2025): $53 · -4.5% YoY. Source: county tax records.