208 W Main St · Miller City, OH 45816

$98,500

1 bd · 2.0 ba · 1,748 sqft · SingleFamily public records · 297 Days on market

Built 1900 6,316 sqft lot $56/sqft · 41% below area Est $129k · 23% under

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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 +15.6/30.0
• ARV discount +15.0/15.0
• Schools +7.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• DSCR +4.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

Key facts

• 6,316 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $41 ($488/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 $98k (0.7% below list).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#757 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Miller City-New Cleveland Local (rural): math 89% / reading 90% proficiency, ranked #10 of 656 in OH (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; solid renter incomes; 41 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $4k of equity ($681 loan paydown + $3k appreciation (3.0% local appreciation)).
• Putnam County population projected at -17% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $98k implies a 234% 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 $86,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 8.4

CMA / ARV

• ARV (median comp): $128,675
• List price: $98,500
• Delta: -23.45%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.2%
• Equity multiple: 1.53×
• Total profit: $14,501
• Equity at exit: $44,290

10-year hold

• IRR: 11.7%
• Equity multiple: 2.74×
• Total profit: $48,073
• Equity at exit: $68,256

Cash invested: $27,580 (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 45816

• Active inventory: 1
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $978 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$174 /mo · $2,089/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $41

Break-even live

Break-even rent $926

Max offer price $98,500

Occupancy floor 91%

Sensitivity live

Price	-10% $96	-5% $69	+0% $41	+5% $13	+10% $-15
Rent	-10% $-37	-5% $2	+0% $41	+5% $79	+10% $118
Rate	-1.0pp $90	-0.5pp $66	base $41	+0.5pp $15	+1.0pp $-11

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $98,500 Active 297 DOM
2. 2026-06-18
   days on market $98,500 Active 295 DOM
3. 2026-06-17
   days on market $98,500 Active 294 DOM
4. 2026-06-16
   days on market $98,500 Active 293 DOM
5. 2026-06-15
   days on market $98,500 Active 292 DOM
6. 2026-06-13
   days on market $98,500 Active 290 DOM
7. 2026-06-12
   days on market $98,500 Active 289 DOM
8. 2026-06-09
   days on market $98,500 Active 286 DOM
9. 2026-06-08
   days on market $98,500 Active 285 DOM
10. 2026-06-08
    days on market $98,500 Active 284 DOM
11. 2026-06-05
    days on market $98,500 Active 282 DOM
12. 2026-06-04
    days on market $98,500 Active 280 DOM
13. 2026-06-02
    days on market $98,500 Active 279 DOM
14. 2026-06-01
    days on market $98,500 Active 278 DOM
15. 2026-05-31
    days on market $98,500 Active 277 DOM
16. 2026-04-23
    status Active 229-char remark

    Show marketing remark (229 chars)

    1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

17. 2026-04-22
    historical Contingent 229-char remark

    Show marketing remark (229 chars)

    1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

18. 2025-12-03
    price $98,500 229-char remark

    Show marketing remark (229 chars)

    1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

19. 2025-08-28
    listed $105,000 Active 229-char remark

    Show marketing remark (229 chars)

    1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

20. 2025-08-26
    historical $105,000 229-char remark

    Show marketing remark (229 chars)

    1 1/2 story Leipsic home offering 3 bedrooms, 1 bathroom, updated kitchen, vinyl exterior siding. Storage building. Convenient location. Priced to sell - great opportunity for investor or homeowner looking for affordable housing.

21. 2017-11-03
    soldstatus $29,500 339-char remark

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

22. 2017-11-03
    soldstatus $29,500

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

23. 2017-11-03
    soldstatus $29,500

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

24. 2017-08-18
    listed $29,500 339-char remark

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

25. 2017-08-18
    listed $31,900

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

26. 2017-08-18
    listed $31,900

    Show marketing remark (339 chars)

    Property is sold as-is. Affordable for investors or first time buyers. Offers 3 bedrooms, 1 bathroom, partial basement, enclosed porch. Detached storage building/garage. Convenient location. 48 hours notice for showing. Not suitable for FHA, USDA or VA financing. Possession at closing + 30 days with tenants rights. Call for details.

27. 2010-05-14
    soldstatus $63,000

ⓘ 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: $2,089 · $174/mo
• Projected year-2 tax: $2,089 · $174/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 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: $11,732
• − Mortgage interest: −$5,518
• − Property taxes: −$2,089
• − Insurance: −$492
• − Repairs & maintenance: −$939
• − Management: −$939
• − Depreciation: −$2,865
• Taxable loss: −$1,110
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $754/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: Miller City-New Cleveland Local
• NCES district ID: 3904936
• Math proficiency: 89% ▼ -3.00%
• Reading proficiency: 90% ▲ 3.00%
• Median HH income: $69,592
• Composite: 77.41/100
• National rank: #95
• State rank: #10 of 656 in OH

Livability — Miller City

• Score: 64/100
• State rank: #757
• US rank: #13681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miller City, OH
• County: Hancock · 68,814 people
• City population: 185
• Population (ZIP): 309
• Household income: $77,614
• Rent vs Own: 10.1% rent · 89.9% own

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 32,604 people
• By 2030: 31,596 · -3.1%
• By 2040: 29,380 · -9.9%
• By 2050: 26,916 · -17.4%
• By 2075: 22,109 · -32.2%
• By 2100: 17,564 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Slovak 3% Italian 2%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+68.7) · D 15.2% · R 83.9%
• 2008→2024 swing: -27.0pp toward R · 2008: -41.7pp · 2024: -68.7pp
• All cycles: 2024: R+68.7 2020: R+66.3 2016: R+64.3 2012: R+51.5 2008: R+41.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+56.3% since first listed

12 events — show timeline

• 2026-04-23 Relisted — NORIS
• 2026-04-22 Contingent — NORIS
• 2025-12-03 Price Changed $98,500 NORIS
• 2025-08-28 Listed $105,000 NORIS
• 2025-08-26 Coming Soon $105,000 NORIS
• 2017-11-03 Sold (MLS) $29,500 WCARE
• 2017-11-03 Sold (MLS) $29,500 NORIS
• 2017-11-03 Sold (MLS) $29,500 NORIS
• 2017-08-18 Listed $31,900 WCARE
• 2017-08-18 Listed $31,900 NORIS
• 2017-08-18 Listed $29,500 NORIS
• 2010-05-14 Sold (Public Records) $63,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,089 · +10.3% YoY. Source: county tax records.