2745 S Conant Rd · Spencerville, OH 45887

$335,000

3 bd · 1.5 ba · 2,214 sqft · SingleFamily public records · 1 Days on market

Built 1963

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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 +18.3/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• DSCR +5.8/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This meticulously kept Spencerville county home offers a spacious living room, dining room, family room, first floor laundry room, 3 bedrooms and 1.5 baths. The updated kitchen includes new luxury flooring and a full appliance package with a wine refrigerator as a bonus! Utilize the eat-in kitchen with bar seating or dining room. Updated flooring throughout the home with 4 inch baseboard trim and LED recessed lighting. Relax from the stresses of day to day by soaking in the Jacuzzi tub. A charming fenced in backyard retreat awaits you with mature landscaping and trees that are ideal for outdoor entertaining. Enjoy nightly conversation by the 6ft fire pit and 20X20 patio all while picking fresh berries in the backyard with the well established red & black raspberry bushes. The 16X20 shed is ideal for gardening and yard supplies and does have electricity for accommodations. 2 car garage with attached carport for extra parking. Alexa and Cameras do not stay. ,Under 1 Acre

Key facts

• Flagstone fire pit
• Jetted garden tub
• Fenced in back yard

Tags

• FENCED IN BACK YARD
• LARGE PAVER PATIO
• FLAG STONE WALKWAY
• FLAGSTONE FIRE PIT
• LARGE CUSTOM SWINGSET
• JETTED GARDEN TUB

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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 $300k (10.4% below list).
• Recommended offer: $300k (10.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#518 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Spencerville Local (rural): math 72% / reading 73% proficiency, ranked #130 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• At $3,000/mo this rent would consume 57% of the median local household income ($63k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 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.
• Current owner paid $264k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $300,000 (10.4% below list)

Questions for the listing agent

1. Built in 1963 — 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. Schools are A-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?
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: 0.90% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-34,773
• Equity at exit: $49,950

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-5,462
• Equity at exit: $28,965

Cash invested: $93,800 (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 45887

• Home prices YoY: -17.5%
• Active inventory: 11
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$166 /mo · $1,987/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $308

Break-even live

Break-even rent $2,610

Max offer price $335,000

Occupancy floor 85%

Sensitivity live

Price	-10% $498	-5% $403	+0% $308	+5% $213	+10% $118
Rent	-10% $71	-5% $190	+0% $308	+5% $427	+10% $545
Rate	-1.0pp $477	-0.5pp $393	base $308	+0.5pp $221	+1.0pp $133

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3330 Sunderland Rd Lima, OH	3.0	2.5	2335	$3,000	$1.28	45d	1	1.12mi

Listing history 5 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $335,000 Active
3. 2021-10-12
   soldstatus $264,000
4. 2021-10-01
   soldstatus $264,000 990-char remark

   Show marketing remark (990 chars)

   This meticulously kept Spencerville county home offers a spacious living room, dining room, family room, first floor laundry room, 3 bedrooms and 1.5 baths. The updated kitchen includes new luxury flooring and a full appliance package with a wine refrigerator as a bonus! Utilize the eat-in kitchen with bar seating or dining room. Updated flooring throughout the home with 4 inch baseboard trim and LED recessed lighting. Relax from the stresses of day to day by soaking in the Jacuzzi tub. A charming fenced in backyard retreat awaits you with mature landscaping and trees that are ideal for outdoor entertaining. Enjoy nightly conversation by the 6ft fire pit and 20X20 patio all while picking fresh berries in the backyard with the well established red & black raspberry bushes. The 16X20 shed is ideal for gardening and yard supplies and does have electricity for accommodations. 2 car garage with attached carport for extra parking. Alexa and Cameras do not stay. ,Under 1 Acre

5. 2021-08-09
   listed $242,000 990-char remark

   Show marketing remark (990 chars)

   This meticulously kept Spencerville county home offers a spacious living room, dining room, family room, first floor laundry room, 3 bedrooms and 1.5 baths. The updated kitchen includes new luxury flooring and a full appliance package with a wine refrigerator as a bonus! Utilize the eat-in kitchen with bar seating or dining room. Updated flooring throughout the home with 4 inch baseboard trim and LED recessed lighting. Relax from the stresses of day to day by soaking in the Jacuzzi tub. A charming fenced in backyard retreat awaits you with mature landscaping and trees that are ideal for outdoor entertaining. Enjoy nightly conversation by the 6ft fire pit and 20X20 patio all while picking fresh berries in the backyard with the well established red & black raspberry bushes. The 16X20 shed is ideal for gardening and yard supplies and does have electricity for accommodations. 2 car garage with attached carport for extra parking. Alexa and Cameras do not stay. ,Under 1 Acre

ⓘ 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: $1,987 · $166/mo
• Projected year-2 tax: $3,606 · $301/mo
• Expected delta: +$1,620/yr (+$135/mo · 81.5%)

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$18,765
• − Property taxes: −$1,987
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$9,745
• Taxable loss: −$1,932
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $4,161/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: Spencerville Local
• NCES district ID: 3904580
• Math proficiency: 72% ▼ -8.00%
• Reading proficiency: 73% ▼ -9.00%
• Median HH income: $48,960
• Composite: 61.34/100
• National rank: #772
• State rank: #130 of 656 in OH

Livability — Spencerville

• Score: 69/100
• State rank: #518
• US rank: #8783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen · 98,169 people
• Metro: Lima, OH
• Population (ZIP): 4,335
• Household income: $62,838
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 10.4

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 1%
• Common ancestry: Iranian 2% Italian 2% Polish 2%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.04%
• Current HPI: 222.3285
• 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

+38.4% since first listed

5 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $335,000 FSBO.com
• 2021-10-12 Sold (Public Records) $264,000 Public Records
• 2021-10-01 Sold (MLS) $264,000 WCARE
• 2021-08-09 Listed $242,000 WCARE

Property tax history

+3.4%/yr

Latest (2025): $1,987 · +1.3% YoY. Source: county tax records.