6 Elliott St · Mount Vernon, OH 43050

$59,400

3 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 17 Days on market

Built 1910 3,920 sqft lot

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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 +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to buy this two story fixer upper located in Mount Vernon, OH and sitting on a 58x75 lot. The interior has 1264 sq. ft. with 3 bedrooms and 1 bathroom. This home is in need of complete renovation.

Key facts

• Complete renovation
• Two story
• 3,920 sq ft lot

Tags

• TWO STORY
• COMPLETE RENOVATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.6% vs local median 3.0% in Mount Vernon — 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 (#227 in OH, #3,542 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Mount Vernon City (town): math 55% / reading 62% proficiency, ranked #321 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Knox County population projected at -14% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $59k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,509 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 2.73% ✓
• Cap rate: 23.59%
• Cash-on-cash: 61.77%
• DSCR: 3.75
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $194,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 N Gay St	0.26mi	3/2.0	1,262 (-0%)	2mo	$248,000	$197	82
203 N Park St	0.19mi	3/2.0	1,344 (+6%)	7mo	$258,000	$192	71
220 E Sugar St	0.20mi	3/1.5	1,378 (+9%)	4mo	$212,000	$154	70
208 E Burgess St	0.15mi	2/1.5 (-1)	1,440 (+14%)	2mo	$193,000	$134	61
702 W Chestnut St	0.64mi	3/1.0	1,314 (+4%)	6mo	$197,000	$150	58
612 N Clinton St	0.45mi	3/1.0	1,104 (-13%)	2mo	$190,000	$172	56
200 1/2 W Walnut St	0.73mi	3/1.0	1,200 (-5%)	2mo	$115,000	$96	55
812 N Gay St	0.44mi	3/1.0	1,430 (+13%)	6mo	$200,000	$140	52
111 Potwin St	0.50mi	3/1.5	1,416 (+12%)	4mo	$226,900	$160	52
10 Yoakam Dr	0.69mi	3/1.0	1,120 (-11%)	7mo	$215,000	$192	43
61 Mansfield Ave	0.71mi	3/2.0	1,440 (+14%)	1mo	$217,500	$151	39
105 N Center St	0.69mi	3/2.0	1,441 (+14%)	6mo	$181,500	$126	35

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: 60.7%
• Equity multiple: 3.70×
• Total profit: $44,937
• Equity at exit: $8,857

10-year hold

• IRR: 65.3%
• Equity multiple: 7.58×
• Total profit: $109,481
• Equity at exit: $5,136

Cash invested: $16,632 (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 43050

• Active inventory: 161
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $856

Break-even live

Break-even rent $538

Max offer price $59,400

Occupancy floor 42%

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: $14,850
• Closing costs: $1,782
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 E Burgess St Mount Vernon, OH	4.0	2.0	1668	$1,950	$1.17	1d	1	0.36mi
713 Howard St Mount Vernon, OH	3.0	2.0	1200	$1,700	$1.42	43d	1	0.71mi
Vernedale Dr MT Vernon, OH	2.0	2.0	938	$1,025	$1.09	1d	1	1.23mi
29 Plaza Dr Unit 29A Mt Vernon, OH	2.0	1.0	973	$900	$0.92	7d	1	1.25mi

Listing history 3 events

1. 2026-03-30
   status Pending
2. 2026-03-13
   listed $59,400 Active
3. 1988-07-21
   soldstatus $16,700

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,066 · $89/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,461
• − Mortgage interest: −$3,327
• − Property taxes: −$1,066
• − Insurance: −$297
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$1,728
• Taxable income: $9,930
• Est. tax owed @ 24.0%: −$2,383
• After-tax cash flow: $7,891/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: Mount Vernon City
• NCES district ID: 3910012
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $44,253
• Composite: 49.26/100
• National rank: #2029
• State rank: #321 of 656 in OH

Livability — Mount Vernon

• Score: 76/100
• State rank: #227
• US rank: #3542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, OH
• County: Knox · 63,297 people
• City population: 30,360
• Population (ZIP): 30,360
• Household income: $65,044
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 12.7

Population outlook (Knox County) Hauer SSP2

• Today (2025): 60,036 people
• By 2030: 58,670 · -2.3%
• By 2040: 54,963 · -8.4%
• By 2050: 51,353 · -14.5%
• By 2075: 43,196 · -28.0%
• By 2100: 34,514 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+44.9) · D 27.1% · R 72.0%
• 2008→2024 swing: -25.0pp toward R · 2008: -19.9pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.8 2016: R+38.2 2012: R+24.3 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.50%
• Current HPI: 304.4254
• 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

+255.7% since first listed

3 events — show timeline

• 2026-03-30 Pending — CBRMLS
• 2026-03-13 Listed $59,400 CBRMLS
• 1988-07-21 Sold (Public Records) $16,700 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,066 · -2.2% YoY. Source: county tax records.