47797 Cadiz Harrisville Rd · Adena, OH 43907

$27,000

3 bd · 2.0 ba · 1,784 sqft · SingleFamily public records · 92 Days on market

Built 1930 0.52 ac lot $15/sqft · 79% below area ↓ 7% since listing

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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 +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor’s dream! This charming home sits on three parcels and offers endless potential for the right buyer. Featuring spacious rooms, original hardwood floors, and a convenient first-floor bedroom and laundry, this property is ideal for those looking to renovate and add value. The layout is functional with plenty of room to reimagine or update to fit your vision. Whether you’re planning to live in it, rent it out, or resell for profit, the opportunity here is undeniable. The generous yard provides outdoor space for recreation, gardening, or potential expansion, and the detached 1-car garage adds practical storage. Located in a quiet neighborhood, this property is ready for transformation. Cash buyers only. Sold as-is. Bring your vision and unlock the possibilities!

Key facts

• First-floor bedroom
• Generous yard
• Three parcels

Tags

• THREE PARCELS
• ORIGINAL HARDWOOD FLOORS
• FIRST-FLOOR BEDROOM
• DETACHED 1-CAR GARAGE
• GENEROUS YARD
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $27k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $25k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#978 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Harrison Hills City (rural): math 35% / reading 51% proficiency, ranked #522 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harrison Central Elementary School (math 37% / reading 54%, grade D-, #980 of 1,584 statewide, top 62%, 807 students, 51% FRL); Harrison Central Jr./Sr. High School (math 32% / reading 48%, grade F, #522 of 781 statewide, top 67%, 599 students, 41% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 20 active listings in the ZIP; 1 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $187 of loan paydown is wiped out by about $810 of value loss. Plan a longer hold.
• Harrison County population projected at -20% 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,570 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 B-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 3.78% ✓
• Cap rate: 33.13%
• Cash-on-cash: 95.83%
• DSCR: 5.26
• GRM: 2.2

CMA / ARV

• ARV (median comp): $129,951
• List price: $27,000
• Delta: -79.22%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 96.8%
• Equity multiple: 5.51×
• Total profit: $34,102
• Equity at exit: $4,026

10-year hold

• IRR: 99.4%
• Equity multiple: 11.49×
• Total profit: $79,313
• Equity at exit: $2,334

Cash invested: $7,560 (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 43907

• Home prices YoY: -16.1%
• Active inventory: 20
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$142
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $604

Break-even live

Break-even rent $257

Max offer price $27,000

Occupancy floor 36%

Sensitivity live

Price	-10% $619	-5% $611	+0% $604	+5% $596	+10% $588
Rent	-10% $523	-5% $563	+0% $604	+5% $644	+10% $684
Rate	-1.0pp $617	-0.5pp $611	base $604	+0.5pp $597	+1.0pp $590

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-12
   statusdays on market $27,000 Pending 92 DOM
2. 2026-06-09
   days on market $27,000 Active 90 DOM
3. 2026-06-08
   days on market $27,000 Active 89 DOM
4. 2026-06-08
   days on market $27,000 Active 88 DOM
5. 2026-06-07
   days on market $27,000 Active 87 DOM
6. 2026-06-04
   days on market $27,000 Active 84 DOM
7. 2026-06-02
   days on market $27,000 Active 83 DOM
8. 2026-06-01
   days on market $27,000 Active 82 DOM
9. 2026-05-31
   days on market $27,000 Active 81 DOM
10. 2026-04-09
    price $27,000 788-char remark

    Show marketing remark (788 chars)

    Investor’s dream! This charming home sits on three parcels and offers endless potential for the right buyer. Featuring spacious rooms, original hardwood floors, and a convenient first-floor bedroom and laundry, this property is ideal for those looking to renovate and add value. The layout is functional with plenty of room to reimagine or update to fit your vision. Whether you’re planning to live in it, rent it out, or resell for profit, the opportunity here is undeniable. The generous yard provides outdoor space for recreation, gardening, or potential expansion, and the detached 1-car garage adds practical storage. Located in a quiet neighborhood, this property is ready for transformation. Cash buyers only. Sold as-is. Bring your vision and unlock the possibilities!

11. 2026-03-10
    listed $32,000 Active 788-char remark

    Show marketing remark (788 chars)

    Investor’s dream! This charming home sits on three parcels and offers endless potential for the right buyer. Featuring spacious rooms, original hardwood floors, and a convenient first-floor bedroom and laundry, this property is ideal for those looking to renovate and add value. The layout is functional with plenty of room to reimagine or update to fit your vision. Whether you’re planning to live in it, rent it out, or resell for profit, the opportunity here is undeniable. The generous yard provides outdoor space for recreation, gardening, or potential expansion, and the detached 1-car garage adds practical storage. Located in a quiet neighborhood, this property is ready for transformation. Cash buyers only. Sold as-is. Bring your vision and unlock the possibilities!

12. 2025-09-21
    historical
13. 2025-08-06
    price $45,000
14. 2025-07-09
    listed $55,000 Active
15. 2024-09-23
    historical
16. 2024-07-12
    listed $29,000 Active

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $606 · $50/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,259
• − Mortgage interest: −$1,512
• − Property taxes: −$606
• − Insurance: −$135
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$785
• Taxable income: $7,259
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $5,503/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: Harrison Hills City
• NCES district ID: 3904524
• Math proficiency: 35% ▼ -24.00%
• Reading proficiency: 51% ▼ -12.00%
• Median HH income: $39,642
• Composite: 35.93/100
• National rank: #4803
• State rank: #522 of 656 in OH

Livability — Adena

• Score: 60/100
• State rank: #978
• US rank: #19033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harrison · 13,333 people
• Population (ZIP): 4,814
• Household income: $45,781
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 3.6

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 14,537 people
• By 2030: 13,961 · -4.0%
• By 2040: 12,753 · -12.3%
• By 2050: 11,607 · -20.2%
• By 2075: 9,299 · -36.0%
• By 2100: 7,447 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 8% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+55.2) · D 21.9% · R 77.1%
• 2008→2024 swing: -52.8pp toward R · 2008: -2.4pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.6 2016: R+48.3 2012: R+14.9 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.54%
• Current HPI: 196.03
• 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

-6.9% since first listed

7 events — show timeline

• 2026-04-09 Price Changed $27,000 MLSNOW
• 2026-03-10 Listed $32,000 MLSNOW
• 2025-09-21 Listing Removed — MLSNOW
• 2025-08-06 Price Changed $45,000 MLSNOW
• 2025-07-09 Listed $55,000 MLSNOW
• 2024-09-23 Listing Removed — MLSNOW
• 2024-07-12 Listed $29,000 MLSNOW

Property tax history

+3.6%/yr

Latest (2025): $606 · +0.1% YoY. Source: county tax records.