127 Miami St · Urbana, OH 43078

$610,000

5 bd · 6.0 ba · 7,954 sqft · MultiFamily public records · 148 Days on market

Built 1900 6,235 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 +29.1/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years. The additional parcel# 109 S Walnut St, Parcel # K48-25-00-01-16-028-00, Legal Description: RTS 00-00-00 __ ORIGINAL PLAT SW PT LOT 50

Key facts

• Vacant lot
• Historic landmark
• Expansion potential

Tags

• HISTORIC LANDMARK
• EXPANSION POTENTIAL
• VACANT LOT

What this means for you Summary

Snapshot

• This is a 5-bed/6.0-bath multifamily listed at $610k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $610k).
• Recommended offer: $537k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.3% in Urbana — 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 71/100 on livability (#404 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Urbana City (town): math 43% / reading 45% proficiency, ranked #509 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 active listings in the ZIP; 42 units permitted in Champaign County in 2024 (0 in 5+ unit buildings).
• At $7,475/mo this rent would consume 124% of the median local household income ($72k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $65k of equity ($4k loan paydown + $61k appreciation (10.0% local appreciation)).
• Champaign County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $171k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$105k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($537k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $200k; list at $610k implies a 205% 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 $536,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.2%
• Equity multiple: 3.73×
• Total profit: $466,711
• Equity at exit: $549,536

10-year hold

• IRR: 30.3%
• Equity multiple: 8.43×
• Total profit: $1,268,215
• Equity at exit: $1,185,096

Cash invested: $170,800 (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 43078

• Home prices YoY: 6.2%
• Active inventory: 91
• Price-to-rent: 34.0×

Monthly cashflow live

• Estimated rent: $7,475 medium
• Mortgage (P&I): −$3,199
• Tax from tax record: −$338 /mo · $4,059/yr
• Insurance: −$254
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,570
• Net cashflow: $2,114

Break-even live

Break-even rent $4,799

Max offer price $610,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$7,475
Total (5 units)			$7,475

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: $152,500
• Closing costs: $18,300
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $610,000 Active 148 DOM
2. 2026-06-17
   days on market $610,000 Active 147 DOM
3. 2026-06-16
   days on market $610,000 Active 146 DOM
4. 2026-06-15
   days on market $610,000 Active 145 DOM
5. 2026-06-13
   days on market $610,000 Active 143 DOM
6. 2026-06-13
   days on market $610,000 Active 142 DOM
7. 2026-06-10
   days on market $610,000 Active 140 DOM
8. 2026-06-09
   days on market $610,000 Active 139 DOM
9. 2026-06-08
   days on market $610,000 Active 138 DOM
10. 2026-06-07
    days on market $610,000 Active 137 DOM
11. 2026-06-05
    days on market $610,000 Active 134 DOM
12. 2026-06-03
    days on market $610,000 Active 133 DOM
13. 2026-06-02
    days on market $610,000 Active 132 DOM
14. 2026-06-01
    days on market $610,000 Active 131 DOM
15. 2026-05-31
    days on market $610,000 Active 130 DOM
16. 2026-04-22
    price $610,000 768-char remark

    Show marketing remark (768 chars)

    Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years. The additional parcel# 109 S Walnut St, Parcel # K48-25-00-01-16-028-00, Legal Description: RTS 00-00-00 __ ORIGINAL PLAT SW PT LOT 50

17. 2026-03-30
    price $620,000 632-char remark

    Show marketing remark (632 chars)

    Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years.

18. 2026-03-12
    price $620,000 768-char remark

    Show marketing remark (768 chars)

    Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years. The additional parcel# 109 S Walnut St, Parcel # K48-25-00-01-16-028-00, Legal Description: RTS 00-00-00 __ ORIGINAL PLAT SW PT LOT 50

19. 2026-01-21
    listed $629,267 Active 768-char remark

    Show marketing remark (768 chars)

    Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years. The additional parcel# 109 S Walnut St, Parcel # K48-25-00-01-16-028-00, Legal Description: RTS 00-00-00 __ ORIGINAL PLAT SW PT LOT 50

20. 2026-01-19
    listed $629,267 Active 632-char remark

    Show marketing remark (632 chars)

    Located in the heart of Downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. Zoned B-3, this Federal-style brick, two-and-a-half-story apartment building features five one-bedroom apartments with shared main-level laundry for tenant convenience, an unfinished top-floor unit with expansion potential, and an additional vacant lot, along with a walk-out lower-level commercial unit addressed as 109 W Walnut Street, currently occupied by a plumbing business that has operated at this location for 72 years.

21. 2020-11-12
    historical
22. 2020-02-21
    listed $243,500
23. 2019-10-21
    soldstatus $200,000
24. 2019-10-15
    soldstatus $200,000
25. 2019-08-19
    listed $248,000

ⓘ 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: $4,059 · $338/mo
• Projected year-2 tax: $6,788 · $566/mo
• Expected delta: +$2,728/yr (+$227/mo · 67.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $89,700
• − Mortgage interest: −$34,169
• − Property taxes: −$4,059
• − Insurance: −$3,050
• − Repairs & maintenance: −$7,176
• − Management: −$7,176
• − Depreciation: −$17,745
• Taxable income: $16,324
• Est. tax owed @ 24.0%: −$3,918
• After-tax cash flow: $21,449/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: Urbana City
• NCES district ID: 3904494
• Math proficiency: 43% ▼ -8.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $40,461
• Composite: 36.9/100
• National rank: #4545
• State rank: #509 of 656 in OH

Livability — Urbana

• Score: 71/100
• State rank: #404
• US rank: #6676

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

• Census place: Urbana, OH
• County: Champaign · 37,359 people
• Population (ZIP): 19,985
• Household income: $72,500
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 8.2

Population outlook (Champaign County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 34,790 · -4.6%
• By 2040: 31,082 · -14.8%
• By 2050: 27,217 · -25.4%
• By 2075: 19,156 · -47.5%
• By 2100: 12,690 · -65.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 3% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Italian 3% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Champaign

• 2024 margin: Solid R (+50.8) · D 24.1% · R 74.9%
• 2008→2024 swing: -30.9pp toward R · 2008: -19.9pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+47.7 2016: R+44.5 2012: R+20.1 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.22%
• Current HPI: 415.85
• 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

+146.0% since first listed

10 events — show timeline

• 2026-04-22 Price Changed $610,000 WRIST
• 2026-03-30 Price Changed $620,000 Dayton MLS
• 2026-03-12 Price Changed $620,000 WRIST
• 2026-01-21 Listed $629,267 WRIST
• 2026-01-19 Listed $629,267 Dayton MLS
• 2020-11-12 Listing Removed — WRIST
• 2020-02-21 Listed $243,500 WRIST
• 2019-10-21 Sold (Public Records) $200,000 Public Records
• 2019-10-15 Sold (MLS) $200,000 WRIST
• 2019-08-19 Listed $248,000 WRIST

Property tax history

+7.8%/yr

Latest (2025): $4,059 · +2.5% YoY. Source: county tax records.