815 S North St · Washington Court House, OH 43160

$75,000

5 bd · 3.0 ba · 2,284 sqft · MultiFamily public records · 82 Days on market

Built 1900 8,233 sqft lot $33/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor Special – Prime Multi-Family Opportunity with Strong Upside Potential! Unlock the potential of this spacious multi-family property featuring three separate entrances, offering excellent flexibility for multiple units or creative layouts. County records reflect 5 bedrooms and 3 full bathrooms, providing a solid foundation for a high-yield rental or resale project. This property has already undergone initial interior demolition, giving you a clean slate to bring your vision to life. It’s ready for renovation and requires framing completion, full electrical and plumbing installation, insulation, drywall, paint, flooring, trim, doors, kitchens, bathrooms, and exterior siding. Major value-add highlights include a brand new roof and mostly updated windows, significantly reducing some of the biggest upfront expenses. With multiple entry points and a generous footprint, this property is ideal for conversion into a multi-unit income producer or a large single-family redevelopment. Perfect for experienced investors, contractors, or rehabbers looking for their next project with strong ARV potential. Bring your team and your vision—this is an opportunity to build equity from the ground up. Sold as-is. Cash or renovation financing recommended.

Key facts

• Brand new roof
• Generous footprint
• 8,233 sq ft lot

Tags

• MULTI FAMILY PROPERTY
• THREE SEPARATE ENTRANCES
• BRAND NEW ROOF
• MOSTLY UPDATED WINDOWS
• MULTIPLE ENTRY POINTS
• GENEROUS FOOTPRINT

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.8% vs local median 2.6% in Washington Court House — 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 77/100 on livability (#191 in OH, #2,912 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Washington Court House City (town): math 54% / reading 54% proficiency, ranked #409 of 656 in OH (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cherry Hill Primary (480 students, 65% FRL); Washington Middle School (math 55% / reading 50%, grade C+, #378 of 654 statewide, top 59%, 457 students, 58% FRL); Washington High School (math 42% / reading 52%, grade D-, #435 of 781 statewide, top 59%, 637 students, 50% FRL).
• Market conditions: 118 active listings in the ZIP; 71 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• At $2,433/mo this rent would consume 51% of the median local household income ($57k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fayette 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $24k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.24% ✓
• Cap rate: 26.84%
• Cash-on-cash: 73.37%
• DSCR: 4.26
• GRM: 2.6

CMA / ARV

• ARV (median comp): $163,793
• List price: $75,000
• Delta: -54.21%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 S North St	0.09mi	5/—	2,501 (+10%)	20mo	$155,000	$62	64

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: 73.2%
• Equity multiple: 4.32×
• Total profit: $69,739
• Equity at exit: $11,183

10-year hold

• IRR: 77.0%
• Equity multiple: 8.93×
• Total profit: $166,482
• Equity at exit: $6,485

Cash invested: $21,000 (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 43160

• Active inventory: 118
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,433 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$213 /mo · $2,562/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $1,284

Break-even live

Break-even rent $808

Max offer price $75,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,327	-5% $1,305	+0% $1,284	+5% $1,263	+10% $1,242
Rent	-10% $1,092	-5% $1,188	+0% $1,284	+5% $1,380	+10% $1,476
Rate	-1.0pp $1,322	-0.5pp $1,303	base $1,284	+0.5pp $1,265	+1.0pp $1,245

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$2,433
Total (3 units)			$2,433

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $75,000 Active 82 DOM
2. 2026-06-21
   days on market $75,000 Active 81 DOM
3. 2026-06-18
   days on market $75,000 Active 79 DOM
4. 2026-06-17
   days on market $75,000 Active 78 DOM
5. 2026-06-16
   days on market $75,000 Active 77 DOM
6. 2026-06-15
   days on market $75,000 Active 76 DOM
7. 2026-06-13
   days on market $75,000 Active 74 DOM
8. 2026-06-12
   days on market $75,000 Active 73 DOM
9. 2026-06-09
   days on market $75,000 Active 70 DOM
10. 2026-06-08
    days on market $75,000 Active 69 DOM
11. 2026-06-08
    days on market $75,000 Active 68 DOM
12. 2026-06-04
    days on market $75,000 Active 64 DOM
13. 2026-06-02
    days on market $75,000 Active 63 DOM
14. 2026-06-01
    days on market $75,000 Active 62 DOM
15. 2026-05-31
    days on market $75,000 Active 61 DOM
16. 2026-05-18
    price $75,000 1277-char remark

    Show marketing remark (1277 chars)

    Investor Special – Prime Multi-Family Opportunity with Strong Upside Potential! Unlock the potential of this spacious multi-family property featuring three separate entrances, offering excellent flexibility for multiple units or creative layouts. County records reflect 5 bedrooms and 3 full bathrooms, providing a solid foundation for a high-yield rental or resale project. This property has already undergone initial interior demolition, giving you a clean slate to bring your vision to life. It’s ready for renovation and requires framing completion, full electrical and plumbing installation, insulation, drywall, paint, flooring, trim, doors, kitchens, bathrooms, and exterior siding. Major value-add highlights include a brand new roof and mostly updated windows, significantly reducing some of the biggest upfront expenses. With multiple entry points and a generous footprint, this property is ideal for conversion into a multi-unit income producer or a large single-family redevelopment. Perfect for experienced investors, contractors, or rehabbers looking for their next project with strong ARV potential. Bring your team and your vision—this is an opportunity to build equity from the ground up. Sold as-is. Cash or renovation financing recommended.

17. 2026-05-01
    price $85,000 1277-char remark

    Show marketing remark (1277 chars)

    Investor Special – Prime Multi-Family Opportunity with Strong Upside Potential! Unlock the potential of this spacious multi-family property featuring three separate entrances, offering excellent flexibility for multiple units or creative layouts. County records reflect 5 bedrooms and 3 full bathrooms, providing a solid foundation for a high-yield rental or resale project. This property has already undergone initial interior demolition, giving you a clean slate to bring your vision to life. It’s ready for renovation and requires framing completion, full electrical and plumbing installation, insulation, drywall, paint, flooring, trim, doors, kitchens, bathrooms, and exterior siding. Major value-add highlights include a brand new roof and mostly updated windows, significantly reducing some of the biggest upfront expenses. With multiple entry points and a generous footprint, this property is ideal for conversion into a multi-unit income producer or a large single-family redevelopment. Perfect for experienced investors, contractors, or rehabbers looking for their next project with strong ARV potential. Bring your team and your vision—this is an opportunity to build equity from the ground up. Sold as-is. Cash or renovation financing recommended.

18. 2026-03-31
    listed $99,000 Active 1277-char remark

    Show marketing remark (1277 chars)

    Investor Special – Prime Multi-Family Opportunity with Strong Upside Potential! Unlock the potential of this spacious multi-family property featuring three separate entrances, offering excellent flexibility for multiple units or creative layouts. County records reflect 5 bedrooms and 3 full bathrooms, providing a solid foundation for a high-yield rental or resale project. This property has already undergone initial interior demolition, giving you a clean slate to bring your vision to life. It’s ready for renovation and requires framing completion, full electrical and plumbing installation, insulation, drywall, paint, flooring, trim, doors, kitchens, bathrooms, and exterior siding. Major value-add highlights include a brand new roof and mostly updated windows, significantly reducing some of the biggest upfront expenses. With multiple entry points and a generous footprint, this property is ideal for conversion into a multi-unit income producer or a large single-family redevelopment. Perfect for experienced investors, contractors, or rehabbers looking for their next project with strong ARV potential. Bring your team and your vision—this is an opportunity to build equity from the ground up. Sold as-is. Cash or renovation financing recommended.

19. 2025-03-11
    status Active 319-char remark

    Show marketing remark (319 chars)

    Investors take a look! Here's a great opportunity to own a triplex in Washington Court House area! 2 units are 2 bedrooms, and 1 unit is 1 bedroom! Needs gutted and completely rehabbed. New roof on original structure and most metal roofing supplies in unit for additions. Listing owned by licensed realty agent in Ohio.

20. 2025-03-06
    soldstatus $75,000 Closed 319-char remark

    Show marketing remark (319 chars)

    Investors take a look! Here's a great opportunity to own a triplex in Washington Court House area! 2 units are 2 bedrooms, and 1 unit is 1 bedroom! Needs gutted and completely rehabbed. New roof on original structure and most metal roofing supplies in unit for additions. Listing owned by licensed realty agent in Ohio.

21. 2025-02-12
    historical Contingent 319-char remark

    Show marketing remark (319 chars)

    Investors take a look! Here's a great opportunity to own a triplex in Washington Court House area! 2 units are 2 bedrooms, and 1 unit is 1 bedroom! Needs gutted and completely rehabbed. New roof on original structure and most metal roofing supplies in unit for additions. Listing owned by licensed realty agent in Ohio.

22. 2025-02-09
    listed $75,000 Active 319-char remark

    Show marketing remark (319 chars)

    Investors take a look! Here's a great opportunity to own a triplex in Washington Court House area! 2 units are 2 bedrooms, and 1 unit is 1 bedroom! Needs gutted and completely rehabbed. New roof on original structure and most metal roofing supplies in unit for additions. Listing owned by licensed realty agent in Ohio.

23. 2023-01-11
    soldstatus $30,000
24. 2022-12-28
    soldstatus $30,000 Closed
25. 2022-12-26
    status Pending
26. 2022-12-14
    listed $39,000 Active
27. 2022-05-18
    soldstatus $30,000
28. 2022-05-17
    historical
29. 2022-05-09
    price $65,500
30. 2022-04-29
    listed $85,500 Active
31. 1999-01-28
    soldstatus $46,350
32. 1996-11-21
    soldstatus $41,200
33. 1994-04-11
    soldstatus $31,500
34. 1992-02-21
    soldstatus $24,900

ⓘ 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: $2,562 · $213/mo
• Projected year-2 tax: $2,562 · $213/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,196
• − Mortgage interest: −$4,201
• − Property taxes: −$2,562
• − Insurance: −$375
• − Repairs & maintenance: −$2,336
• − Management: −$2,336
• − Depreciation: −$2,182
• Taxable income: $15,205
• Est. tax owed @ 24.0%: −$3,649
• After-tax cash flow: $11,759/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: Washington Court House City
• NCES district ID: 3910011
• Math proficiency: 54% ▼ -12.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $36,060
• Composite: 44.77/100
• National rank: #2747
• State rank: #409 of 656 in OH

Livability — Washington Court House

• Score: 77/100
• State rank: #191
• US rank: #2912

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: Washington Court House, OH
• County: Fayette · 25,566 people
• City population: 21,966
• Population (ZIP): 21,966
• Household income: $57,475
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 6.5

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 27,616 people
• By 2030: 26,760 · -3.1%
• By 2040: 24,789 · -10.2%
• By 2050: 22,550 · -18.3%
• By 2075: 16,893 · -38.8%
• By 2100: 11,246 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+55.1) · D 22.1% · R 77.2%
• 2008→2024 swing: -32.0pp toward R · 2008: -23.1pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+51.5 2016: R+47.1 2012: R+22.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -228.13%
• Current HPI: 240.7307
• 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

+201.2% since first listed

19 events — show timeline

• 2026-05-18 Price Changed $75,000 Dayton MLS
• 2026-05-01 Price Changed $85,000 Dayton MLS
• 2026-03-31 Listed $99,000 Dayton MLS
• 2025-03-11 Relisted — CBRMLS
• 2025-03-06 Sold (MLS) $75,000 CBRMLS
• 2025-02-12 Contingent — CBRMLS
• 2025-02-09 Listed $75,000 CBRMLS
• 2023-01-11 Sold (Public Records) $30,000 Public Records
• 2022-12-28 Sold (MLS) $30,000 CBRMLS
• 2022-12-26 Pending — CBRMLS
• 2022-12-14 Listed $39,000 CBRMLS
• 2022-05-18 Sold (Public Records) $30,000 Public Records
• 2022-05-17 Listing Removed — CBRMLS
• 2022-05-09 Price Changed $65,500 CBRMLS
• 2022-04-29 Listed $85,500 CBRMLS
• 1999-01-28 Sold (Public Records) $46,350 Public Records
• 1996-11-21 Sold (Public Records) $41,200 Public Records
• 1994-04-11 Sold (Public Records) $31,500 Public Records
• 1992-02-21 Sold (Public Records) $24,900 Public Records

Property tax history

+10.2%/yr

Latest (2025): $2,562 · +64.0% YoY. Source: county tax records.