1664 Watson Rd SE · Heath, OH 43056

$134,900

2 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 32 Days on market

Built 1986 0.98 ac lot

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Manufactured home being sold 'as is' with seller making no repairs. Sits on almost an acre and has 3 bedrooms and 2 full baths.

Key facts

• 98-acre lot
• New driveway
• Tree-lined parcel

Tags

• 98-ACRE LOT
• HEATH SCHOOL DISTRICT
• NEW DRIVEWAY
• TREE-LINED PARCEL

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1986; No common walls
• Construction: Block foundation
• Exterior features: Deck

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Other flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space basement; Approximately 1512 building area (source: Realist)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.8% in Heath — 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 72/100 on livability (#353 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: crime D+, amenities F, commute F.
• Heath City (suburban): math 62% / reading 67% proficiency, ranked #226 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $135k implies a 287% gain — meaningful room to come down on a strong offer.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.18% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $343,224
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Kimberly Ct	0.37mi	3/2.0 (+1)	1,646 (+9%)	5mo	$374,000	$227	59
767 Francis Dr	0.65mi	3/2.0 (+1)	1,581 (+5%)	1mo	$410,000	$259	56
1797 Aspen Ct	0.75mi	3/2.0 (+1)	1,698 (+12%)	12mo	$274,900	$162	29

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,424
• Equity at exit: $20,114

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $23,022
• Equity at exit: $11,664

Cash invested: $37,772 (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 43056

• Active inventory: 59
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$192 /mo · $2,302/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $305

Break-even live

Break-even rent $1,209

Max offer price $134,900

Occupancy floor 76%

Sensitivity live

Price	-10% $381	-5% $343	+0% $305	+5% $266	+10% $228
Rent	-10% $179	-5% $242	+0% $305	+5% $368	+10% $431
Rate	-1.0pp $372	-0.5pp $339	base $305	+0.5pp $270	+1.0pp $234

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Wilwood Ave Newark, OH	3.0	1.0	1205	$1,595	$1.32	3d	1	1.34mi

Listing history 22 events

1. 2026-06-21
   days on market $134,900 Active 32 DOM
2. 2026-06-18
   days on market $134,900 Active 29 DOM
3. 2026-06-17
   days on market $134,900 Active 28 DOM
4. 2026-06-16
   days on market $134,900 Active 27 DOM
5. 2026-06-16
   price $134,900 Active 26 DOM
6. 2026-06-15
   days on market $149,000 Active 26 DOM
7. 2026-06-13
   days on market $149,000 Active 24 DOM
8. 2026-06-13
   days on market $149,000 Active 23 DOM
9. 2026-06-09
   days on market $149,000 Active 20 DOM
10. 2026-06-08
    days on market $149,000 Active 19 DOM
11. 2026-06-07
    days on market $149,000 Active 18 DOM
12. 2026-06-05
    days on market $149,000 Active 15 DOM
13. 2026-06-03
    days on market $149,000 Active 14 DOM
14. 2026-06-02
    days on market $149,000 Active 13 DOM
15. 2026-06-01
    days on market $149,000 Active 12 DOM
16. 2026-05-31
    days on market $149,000 Active 11 DOM
17. 2026-05-20
    listed $149,000 Active
18. 2015-05-08
    soldstatus $34,900 Closed 127-char remark

    Show marketing remark (127 chars)

    Manufactured home being sold 'as is' with seller making no repairs. Sits on almost an acre and has 3 bedrooms and 2 full baths.

19. 2015-04-09
    historical 127-char remark

    Show marketing remark (127 chars)

    Manufactured home being sold 'as is' with seller making no repairs. Sits on almost an acre and has 3 bedrooms and 2 full baths.

20. 2015-03-30
    listed $34,900 127-char remark

    Show marketing remark (127 chars)

    Manufactured home being sold 'as is' with seller making no repairs. Sits on almost an acre and has 3 bedrooms and 2 full baths.

21. 2001-09-11
    soldstatus $25,000
22. 1997-09-03
    soldstatus $75,900

ⓘ 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: $2,302 · $192/mo
• Projected year-2 tax: $2,302 · $192/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 ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $19,140
• − Mortgage interest: −$7,556
• − Property taxes: −$2,302
• − Insurance: −$674
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$3,924
• Taxable income: $1,620
• Est. tax owed @ 24.0%: −$389
• After-tax cash flow: $3,266/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: Heath City
• NCES district ID: 3904411
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 67% ▼ -2.00%
• Median HH income: $47,796
• Composite: 54.58/100
• National rank: #1340
• State rank: #226 of 656 in OH

Livability — Heath

• Score: 72/100
• State rank: #353
• US rank: #5705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Heath, OH
• County: Licking · 160,960 people
• Metro: Columbus, OH
• Population (ZIP): 17,485
• Household income: $76,833
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 5.6

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Iranian 2% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada, India
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.75%
• Current HPI: 229.4048
• 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

+96.3% since first listed

6 events — show timeline

• 2026-05-20 Listed $149,000 CBRMLS
• 2015-05-08 Sold (MLS) $34,900 CBRMLS
• 2015-04-09 Listing Removed — CBRMLS
• 2015-03-30 Listed $34,900 CBRMLS
• 2001-09-11 Sold (Public Records) $25,000 Public Records
• 1997-09-03 Sold (Public Records) $75,900 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,302 · +2.8% YoY. Source: county tax records.