456 S Union St · Galion, OH 44833

$29,000

2 bd · 2.0 ba · 936 sqft · SingleFamily public records · 8 Days on market

Built 1920 6,969 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 +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman special, Bring this home back to it's true potential! Bigger than it looks - main level featuring living room, family room, 3 bedrooms, 2 full bathrooms and kitchen. Upstairs are 2 large bedrooms. Newer furnace and updated electric meter. Nice size back yard with alley access. Being sold as is.

Key facts

• Newer furnace
• Kitchen
• Living room

Tags

• MAIN LEVEL
• LIVING ROOM
• FAMILY ROOM
• KITCHEN
• NEWER FURNACE
• UPDATED ELECTRIC METER

Property features AI

Finance

• Financial info: Annual taxes reported: $780 (2025)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Built in 1920; No shared/common walls
• Construction: Block and stone foundation; Built in 1920
• Exterior features: Block and stone foundation

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Heating present
• Interior features: Basement present; Total living area 1,872

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($772 rent vs $29k).
• Cap rate 22.0% vs local median 4.8% in Galion — 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 63/100 on livability (#833 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Galion City (town): math 36% / reading 56% proficiency, ranked #499 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 76 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 8 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($57k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Crawford County population projected at -22% 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 $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $22k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.66% ✓
• Cap rate: 22.04%
• Cash-on-cash: 56.24%
• DSCR: 3.50
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $123,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 S Union St	0.19mi	2/1.0	980 (+5%)	3mo	$125,000	$128	76
512 Mcdonald Ave	0.32mi	3/1.0 (+1)	912 (-3%)	2mo	$138,500	$152	71
438 Mackey St	0.42mi	3/1.0 (+1)	912 (-3%)	1mo	$165,000	$181	66
641 Crew Ave	0.39mi	2/1.0	872 (-7%)	1mo	$115,000	$132	66
414 E Church St	0.64mi	2/1.0	936 (0%)	3mo	$18,000	$19	64
453 S Pierce St	0.53mi	2/1.0	960 (+3%)	7mo	$80,000	$83	61
838 Crew Ave	0.62mi	3/1.0 (+1)	936 (0%)	2mo	$144,500	$154	60
663 Brookside Ave	0.75mi	3/1.5 (+1)	912 (-3%)	1mo	$90,000	$99	53
360 N Columbus St	0.69mi	2/1.0	884 (-6%)	3mo	$129,900	$147	52
736 S Boston St	0.35mi	3/1.0 (+1)	1,050 (+12%)	4mo	$154,400	$147	51
134 North Riblet St	0.75mi	2/1.0	1,004 (+7%)	2mo	$64,500	$64	47
332 Parson St	0.38mi	3/1.0 (+1)	1,064 (+14%)	7mo	$37,500	$35	44

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: 54.7%
• Equity multiple: 3.41×
• Total profit: $19,567
• Equity at exit: $4,324

10-year hold

• IRR: 59.8%
• Equity multiple: 6.96×
• Total profit: $48,367
• Equity at exit: $2,507

Cash invested: $8,120 (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 44833

• Home prices YoY: -27.9%
• Active inventory: 76
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $772 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$65 /mo · $780/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$162
• Net cashflow: $381

Break-even live

Break-even rent $290

Max offer price $29,000

Occupancy floor 46%

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 6th Ave Unit 109 Galion, OH	2.0	1.0	775	$825	$1.06	43d	1	1.42mi
331 6th Ave Galion, OH	1.0–2.0	1.0	675	$610	$0.90	43d	1	1.46mi
1140 N Market St Galion, OH	1.0	1.0	912	$845	$0.93	43d	1	1.47mi

Listing history 8 events

1. 2026-06-19
   days on market $29,000 Active 8 DOM
2. 2026-06-18
   days on market $29,000 Active 7 DOM
3. 2026-06-17
   days on market $29,000 Active 6 DOM
4. 2026-06-16
   days on market $29,000 Active 5 DOM
5. 2026-06-15
   days on market $29,000 Active 4 DOM
6. 2026-06-14
   days on market $29,000 Active 2 DOM
7. 2026-06-12
   remarks 304-char remark
8. 2026-06-12
   listed $29,000 Active 1 DOM

ⓘ 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: $780 · $65/mo
• Projected year-2 tax: $780 · $65/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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,261
• − Mortgage interest: −$1,624
• − Property taxes: −$780
• − Insurance: −$145
• − Repairs & maintenance: −$741
• − Management: −$741
• − Depreciation: −$844
• Taxable income: $4,386
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $3,514/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: Galion City
• NCES district ID: 3904402
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $36,331
• Composite: 38.08/100
• National rank: #4279
• State rank: #499 of 656 in OH

Livability — Galion

• Score: 63/100
• State rank: #833
• US rank: #15587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galion, OH
• County: Morrow · 41,908 people
• City population: 16,641
• Metro: Columbus, OH
• Population (ZIP): 16,641
• Household income: $57,234
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 3.8

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,421 people
• By 2030: 37,656 · -4.5%
• By 2040: 34,043 · -13.6%
• By 2050: 30,617 · -22.3%
• By 2075: 23,652 · -40.0%
• By 2100: 17,786 · -54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+53.0) · D 23.1% · R 76.1%
• 2008→2024 swing: -33.9pp toward R · 2008: -19.0pp · 2024: -53.0pp
• All cycles: 2024: R+53.0 2020: R+50.9 2016: R+46.8 2012: R+22.7 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.57%
• Current HPI: 218.195
• 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

+31.8% since first listed

3 events — show timeline

• 2026-06-10 Listed $29,000 MARMLS
• 2026-06-10 Listed $29,000 CBRMLS
• 2001-08-10 Sold (Public Records) $22,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $780 · -0.3% YoY. Source: county tax records.