415 E 2nd St · Wellston, OH 45692

$49,900

3 bd · 1.0 ba · 1,508 sqft · SingleFamily public records · 58 Days on market

Built 1912 6,969 sqft lot $33/sqft · 69% below area ↓ 13% 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
• Appreciation +3.5/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity knocks in Wellston! This home has the potential for a 4-bedroom, 2-bath layout. It has been fully gutted down to the studs and is ready for your vision to bring it back to life. With major demo already completed, this property offers a blank canvas for investors, flippers, or buyers looking to design a custom home exactly to their taste. The spacious footprint allows for flexible layout options, including open-concept living, a large kitchen, and potential primary suite configuration. Original character remains, providing a solid starting point for renovation while giving you the freedom to modernize every detail from top to bottom. Situated on a manageable lot with room for ou

Key facts

• Manageable lot
• Spacious footprint
• Endless potential

Tags

• SPACIOUS FOOTPRINT
• FLEXIBLE LAYOUT OPTIONS
• MANAGEABLE LOT
• ROOM FOR OUTDOOR LIVING
• ENDLESS POTENTIAL

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1912
• Construction: Block foundation
• Exterior features: 0.16-acre lot

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Full basement and crawl space; No common walls

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 3.2% in Wellston — 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 67/100 on livability (#606 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, amenities F.
• Wellston City (rural): math 38% / reading 47% proficiency, ranked #532 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 32 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jackson 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.02% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.85%
• DSCR: 2.55
• GRM: 4.1

CMA / ARV

• ARV (median comp): $160,928
• List price: $49,900
• Delta: -68.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 E 7th St	0.29mi	3/1.5	1,552 (+3%)	16mo	$160,000	$103	66
511 E Broadway St	0.14mi	4/1.0 (+1)	1,656 (+10%)	8mo	$86,000	$52	65
224 W 4th St	0.52mi	3/2.0	1,456 (-3%)	8mo	$190,000	$130	60
234 S Minnesota Ave	0.62mi	3/2.0	1,532 (+2%)	11mo	$213,500	$139	55
223 E 8th St	0.34mi	4/1.0 (+1)	1,360 (-10%)	23mo	$142,000	$104	44
814 S Massachusetts Ave	0.36mi	3/2.0	1,698 (+13%)	21mo	$110,000	$65	40
550 W Broadway St	0.74mi	3/1.0	1,320 (-12%)	10mo	$165,000	$125	36
1260 S Massachusetts Ave	0.67mi	4/1.0 (+1)	1,625 (+8%)	23mo	$20,000	$12	31
215 W "d" St	0.62mi	3/1.0	1,300 (-14%)	23mo	$79,000	$61	29
475 S Wisconsin Ave	0.64mi	3/2.0	1,350 (-10%)	24mo	$152,000	$113	29
1 Hickory Dr	0.67mi	3/2.0	1,696 (+12%)	18mo	$250,000	$147	28
260 S Minnesota Ave	0.63mi	4/2.5 (+1)	1,716 (+14%)	21mo	$126,500	$74	19

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: 30.4%
• Equity multiple: 2.27×
• Total profit: $17,798
• Equity at exit: $7,440

10-year hold

• IRR: 37.7%
• Equity multiple: 4.50×
• Total profit: $48,945
• Equity at exit: $4,314

Cash invested: $13,972 (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 45692

• Home prices YoY: -1.4%
• Active inventory: 50
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,006 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $406

Break-even live

Break-even rent $493

Max offer price $49,900

Occupancy floor 55%

Sensitivity live

Price	-10% $434	-5% $420	+0% $406	+5% $392	+10% $377
Rent	-10% $326	-5% $366	+0% $406	+5% $445	+10% $485
Rate	-1.0pp $431	-0.5pp $418	base $406	+0.5pp $393	+1.0pp $380

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $49,900 Active 58 DOM
2. 2026-06-18
   days on market $49,900 Active 56 DOM
3. 2026-06-17
   days on market $49,900 Active 55 DOM
4. 2026-06-16
   days on market $49,900 Active 54 DOM
5. 2026-06-15
   days on market $49,900 Active 53 DOM
6. 2026-06-13
   days on market $49,900 Active 51 DOM
7. 2026-06-12
   pricedays on market $49,900 Active 50 DOM
8. 2026-06-09
   days on market $55,000 Active 47 DOM
9. 2026-06-08
   days on market $55,000 Active 46 DOM
10. 2026-06-08
    days on market $55,000 Active 45 DOM
11. 2026-06-07
    days on market $55,000 Active 44 DOM
12. 2026-06-04
    days on market $55,000 Active 41 DOM
13. 2026-06-02
    days on market $55,000 Active 40 DOM
14. 2026-06-01
    days on market $55,000 Active 39 DOM
15. 2026-05-31
    days on market $55,000 Active 38 DOM
16. 2026-04-21
    listed $55,000 Active 1023-char remark
17. 2004-11-29
    soldstatus $57,600

ⓘ 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: $1,281 · $107/mo
• Projected year-2 tax: $1,281 · $107/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 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,075
• − Mortgage interest: −$2,795
• − Property taxes: −$1,281
• − Insurance: −$250
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$1,452
• Taxable income: $4,366
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $3,821/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: Wellston City
• NCES district ID: 3904502
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 47% ▼ -10.00%
• Median HH income: $35,982
• Composite: 35.2/100
• National rank: #4991
• State rank: #532 of 656 in OH

Livability — Wellston

• Score: 67/100
• State rank: #606
• US rank: #10407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellston, OH
• County: Jackson · 32,540 people
• City population: 7,699
• Population (ZIP): 7,699
• Household income: $52,449
• Rent vs Own: 30.4% rent · 69.6% own

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 30,794 people
• By 2030: 29,535 · -4.1%
• By 2040: 26,757 · -13.1%
• By 2050: 23,897 · -22.4%
• By 2075: 17,115 · -44.4%
• By 2100: 10,908 · -64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.1) · D 20.7% · R 78.8%
• 2008→2024 swing: -37.9pp toward R · 2008: -20.2pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+54.1 2016: R+48.9 2012: R+20.8 2008: R+20.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.09%
• Current HPI: 219.2619
• 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

-13.4% since first listed

3 events — show timeline

• 2026-06-11 Price Changed $49,900 CBRMLS
• 2026-04-21 Listed $55,000 CBRMLS
• 2004-11-29 Sold (Public Records) $57,600 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,281 · +4.1% YoY. Source: county tax records.