149 Newkirk St · New London, OH 44851

$110,000

3 bd · 1.0 ba · 1,711 sqft · SingleFamily public records · 4 Days on market

Built 1900 $64/sqft · 21% below area Est $140k · 21% under ↓ 8% since listing

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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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained two-story home offering comfort, functionality, and timeless appeal. The spacious layout features abundant natural light, a thoughtfully designed kitchen, and inviting living areas perfect for everyday living or entertaining. Bedrooms provide ample space and storage. The detached garage includes a versatile loft, ideal for storage, hobbies, or workspace needs. Enjoy peace of mind with newer furnace, roof, water heater, and windows. The standout feature is the expansive backyard -- perfect for outdoor gatherings, recreation, or future improvements. Conveniently located in town, this property offers both accessibility and a peaceful setting.

Key facts

• Newer furnace
• Newer roof
• Newer water heater

Tags

• DETACHED GARAGE
• VERSATILE LOFT
• EXPANSIVE BACKYARD
• NEWER FURNACE
• NEWER ROOF
• NEWER WATER HEATER

Property features AI

Exterior

• Parking: Garage (1.5 spaces); Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story
• Construction: Wood siding
• Exterior features: Level lot

Interior

• Kitchen: Range
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Range; Gas water heater; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (7.2% below list).
• Recommended offer: $102k (7.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#797 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• New London Local (rural): math 47% / reading 51% proficiency, ranked #452 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 40 units permitted in Huron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Huron County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,110 (7.2% 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. 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.
4. 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.
5. 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: 0.93% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (median comp): $139,857
• List price: $110,000
• Delta: -21.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Cedar St	0.25mi	3/2.0	1,792 (+5%)	1mo	$175,000	$98	76
140 High St	0.34mi	3/1.0	1,696 (-1%)	9mo	$182,500	$108	75
201 E Main St	0.25mi	3/2.0	1,822 (+6%)	7mo	$235,000	$129	68
92 S Main St	0.42mi	3/2.0	1,812 (+6%)	1mo	$237,000	$131	66
159 E Main St	0.19mi	4/1.0 (+1)	1,856 (+8%)	8mo	$96,500	$52	65
68 Prospect St	0.52mi	3/1.5	1,672 (-2%)	13mo	$190,000	$114	59
13 Grant St	0.52mi	3/1.0	1,557 (-9%)	7mo	$140,000	$90	55
250 E Main St	0.39mi	3/2.0	1,520 (-11%)	5mo	$159,900	$105	55
156 High St	0.35mi	3/2.0	1,463 (-14%)	12mo	$190,000	$130	46
74 Sherman St	0.55mi	2/1.0 (-1)	1,572 (-8%)	13mo	$145,000	$92	45
5580 E St Rt 162	0.56mi	4/2.0 (+1)	1,774 (+4%)	23mo	$220,000	$124	40
100 New London Ave	0.59mi	3/2.0	1,844 (+8%)	21mo	$170,000	$92	38

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-10,624
• Equity at exit: $16,401

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-50
• Equity at exit: $9,511

Cash invested: $30,800 (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 44851

• Home prices YoY: -7.0%
• Active inventory: 22
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$71 /mo · $846/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $113

Break-even live

Break-even rent $877

Max offer price $110,000

Occupancy floor 84%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   listed $110,000 Active 679-char remark
2. 2022-03-09
   historical
3. 2021-12-09
   listed $120,000 Active

ⓘ 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: $846 · $71/mo
• Projected year-2 tax: $1,281 · $107/mo
• Expected delta: +$435/yr (+$36/mo · 51.4%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,253
• − Mortgage interest: −$6,162
• − Property taxes: −$846
• − Insurance: −$550
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$3,200
• Taxable loss: −$465
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $1,473/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: New London Local
• NCES district ID: 3904772
• Math proficiency: 47% ▼ -18.00%
• Reading proficiency: 51% ▼ -12.00%
• Median HH income: $46,646
• Composite: 41.63/100
• National rank: #3428
• State rank: #452 of 656 in OH

Livability — New London

• Score: 64/100
• State rank: #797
• US rank: #14596

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, OH
• County: Huron · 56,496 people
• Population (ZIP): 5,303
• Household income: $62,458
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 7.3

Population outlook (Huron County) Hauer SSP2

• Today (2025): 55,572 people
• By 2030: 53,514 · -3.7%
• By 2040: 48,770 · -12.2%
• By 2050: 43,611 · -21.5%
• By 2075: 32,349 · -41.8%
• By 2100: 21,849 · -60.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 0% · Canada

Political lean MEDSL · Huron

• 2024 margin: Solid R (+44.0) · D 27.6% · R 71.6%
• 2008→2024 swing: -40.9pp toward R · 2008: -3.1pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.2 2016: R+36.4 2012: R+8.9 2008: R+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.80%
• Current HPI: 249.3754
• 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

-8.3% since first listed

4 events — show timeline

• 2026-05-19 Pending — MARMLS
• 2026-05-11 Listed $110,000 MARMLS
• 2022-03-09 Listing Removed — MLSNOW
• 2021-12-09 Listed $120,000 MLSNOW

Property tax history

+5.8%/yr

Latest (2025): $846 · +0.4% YoY. Source: county tax records.