5850 Road 24 · Continental, OH 45831

$79,900

3 bd · 1.0 ba · 1,257 sqft · SingleFamily public records · 24 Days on market

Built 1956 1.31 ac 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A Handyman's special bring your tool belt and your vision to make this home your own. Sitting on over an acre this place has plenty of space to enjoy. New septic

Key facts

• New septic
• Over an acre
• 1.31 acre lot

Tags

• OVER AN ACRE
• NEW SEPTIC

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Electricity connected; Propane; Sewer connected (septic tank); Water connected (well)
• Home design: Single-family residence; Two levels (2 stories); Not attached to other homes; No common walls; Living area reported
• Construction: Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Gas range
• Bedrooms: Bedroom (upper) approx. 11 x 13; Bedroom (upper) approx. 13 x 13; Bedroom (main) approx. 14 x 9
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating
• Interior features: Five total rooms; Basement present; Other interior features
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#307 in OH, #4,964 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Continental Local (rural): math 78% / reading 78% proficiency, ranked #73 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Continental Local Elementary School (math 87% / reading 77%, grade A+, #116 of 1,584 statewide, top 9%, 265 students, 34% FRL); Continental Local High School (math 67% / reading 82%, grade B+, #69 of 781 statewide, top 10%, 185 students, 40% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 41 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($75k/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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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: 1.32% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $5,494
• Equity at exit: $11,913

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $28,563
• Equity at exit: $6,908

Cash invested: $22,372 (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 45831

• Home prices YoY: -10.6%
• Active inventory: 6
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$94 /mo · $1,127/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $289

Break-even live

Break-even rent $691

Max offer price $79,900

Occupancy floor 68%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $79,900 Active 24 DOM
2. 2026-06-17
   days on market $79,900 Active 23 DOM
3. 2026-06-16
   days on market $79,900 Active 22 DOM
4. 2026-06-15
   days on market $79,900 Active 21 DOM
5. 2026-06-13
   days on market $79,900 Active 19 DOM
6. 2026-06-12
   pricedays on market $79,900 Active 18 DOM
7. 2026-06-09
   days on market $89,900 Active 15 DOM
8. 2026-06-08
   days on market $89,900 Active 14 DOM
9. 2026-06-08
   days on market $89,900 Active 13 DOM
10. 2026-06-05
    days on market $89,900 Active 11 DOM
11. 2026-06-04
    days on market $89,900 Active 9 DOM
12. 2026-06-02
    days on market $89,900 Active 8 DOM
13. 2026-06-01
    days on market $89,900 Active 7 DOM
14. 2026-05-31
    days on market $89,900 Active 6 DOM
15. 2026-05-22
    listed $89,900 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: $1,127 · $94/mo
• Projected year-2 tax: $1,187 · $99/mo
• Expected delta: +$60/yr (+$5/mo · 5.3%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,693
• − Mortgage interest: −$4,476
• − Property taxes: −$1,127
• − Insurance: −$400
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$2,324
• Taxable income: $2,335
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $2,912/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: Continental Local
• NCES district ID: 3904932
• Math proficiency: 78% ▼ -3.00%
• Reading proficiency: 78% ▼ -5.00%
• Median HH income: $51,642
• Composite: 66.16/100
• National rank: #434
• State rank: #73 of 656 in OH

Livability — Continental

• Score: 74/100
• State rank: #307
• US rank: #4964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam · 35,411 people
• Population (ZIP): 3,566
• Household income: $74,801
• Rent vs Own: 7.5% rent · 92.5% 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 (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 1% Serbian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▼ -28.81%
• Current HPI: 244.3527
• 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

1 event — show timeline

• 2026-05-22 Listed $89,900 NORIS

Property tax history

+3.8%/yr

Latest (2025): $1,127 · +6.0% YoY. Source: county tax records.