22846 Norman Ave · East Alliance, OH 44401

$69,000

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 55 Days on market

Built 1900 4,356 sqft lot $105/sqft · 31% below area Est $99k · 31% under ↓ 14% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this cozy 2-Bedroom, 1-Bath raised Ranch, offering a well-designed living space. The home features an open main level with abundant natural light, a functional kitchen where all appliances stay, including a chest freezer, a dining room, and 2 comfortable bedrooms. Ideal for first-time homebuyers, downsizers, or investors seeking a rental property. The basement offers extra storage along with a washer and dryer that are included, as well as an outdoor built-in shed with new door. Outside, a new back deck and a new roof and gutters on the garage, make this home move-in ready and worry-free. Schedule your showing today!

Key facts

• Open main level
• Functional kitchen
• New roof on garage

Tags

• OPEN MAIN LEVEL
• FUNCTIONAL KITCHEN
• OUTDOOR BUILT-IN SHED
• NEW BACK DECK
• NEW ROOF ON GARAGE

Property features AI

Exterior

• Parking: Detached garage (garage faces front); Driveway; Gravel parking; 1 garage space
• Utilities: Public water; Septic tank sewer
• Home design: Single-story home; Block foundation
• Construction: Built (year per public records); Asphalt and block construction; Asphalt roof
• Exterior features: Rear covered porch; Front porch; Deck; Storage; Shed(s)

Interior

• Kitchen: Range; Refrigerator; Microwave; Freezer
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet in bedrooms, living room and dining room
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Ceiling fans; Laminate counters; Double pane windows; Drapes
• Laundry & utility: Washer hookup (in basement); Electric dryer hookup (in basement); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($904 rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Alliance City (town): math 39% / reading 45% proficiency, ranked #536 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($67k/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 $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mahoning County population projected at -14% 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 $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.31% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.11%
• DSCR: 1.85
• GRM: 6.4

CMA / ARV

• ARV (median comp): $99,335
• List price: $69,000
• Delta: -30.54%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.0%
• Equity multiple: 1.43×
• Total profit: $8,385
• Equity at exit: $10,288

10-year hold

• IRR: 20.0%
• Equity multiple: 2.68×
• Total profit: $32,415
• Equity at exit: $5,966

Cash invested: $19,320 (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 44401

• Home prices YoY: -14.2%
• Active inventory: 11
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $904 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $308

Break-even live

Break-even rent $515

Max offer price $69,000

Occupancy floor 61%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
734 Mill Cir Alliance, OH	1.0–2.0	1.0	724	$940	$1.30	14d	1	1.10mi
199 W Main St Alliance, OH	2.0	1.0	600	$860	$1.43	14d	1	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $69,000 Active 55 DOM
2. 2026-06-17
   days on market $69,000 Active 54 DOM
3. 2026-06-16
   days on market $69,000 Active 53 DOM
4. 2026-06-15
   days on market $69,000 Active 52 DOM
5. 2026-06-14
   days on market $69,000 Active 50 DOM
6. 2026-06-13
   days on market $69,000 Active 49 DOM
7. 2026-06-10
   days on market $69,000 Active 47 DOM
8. 2026-06-09
   days on market $69,000 Active 46 DOM
9. 2026-06-09
   price $69,000 Active 45 DOM
10. 2026-06-08
    days on market $72,900 Active 45 DOM
11. 2026-06-07
    days on market $72,900 Active 44 DOM
12. 2026-06-02
    days on market $72,900 Active 39 DOM
13. 2026-06-01
    days on market $72,900 Active 38 DOM
14. 2026-05-31
    days on market $72,900 Active 37 DOM
15. 2026-05-30
    days on market $72,900 Active 36 DOM
16. 2026-05-18
    price $72,900 635-char remark
17. 2026-04-24
    listed $79,900 Active 635-char remark

ⓘ 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: $194 · $16/mo
• Projected year-2 tax: $635 · $53/mo
• Expected delta: +$441/yr (+$37/mo · 227.4%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,852
• − Mortgage interest: −$3,865
• − Property taxes: −$194
• − Insurance: −$345
• − Repairs & maintenance: −$868
• − Management: −$868
• − Depreciation: −$2,007
• Taxable income: $2,704
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,043/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: Alliance City
• NCES district ID: 3904349
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $33,326
• Composite: 34.54/100
• National rank: #5176
• State rank: #536 of 656 in OH

Livability — East Alliance

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: East Alliance, OH
• County: Mahoning · 224,175 people
• Metro: Youngstown-Warren, OH
• Population (ZIP): 2,565
• Household income: $67,094
• Rent vs Own: 12.8% rent · 87.2% own

Population outlook (Mahoning County) Hauer SSP2

• Today (2025): 223,932 people
• By 2030: 218,387 · -2.5%
• By 2040: 205,367 · -8.3%
• By 2050: 193,606 · -13.5%
• By 2075: 173,694 · -22.4%
• By 2100: 151,147 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Slovak 3% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Mahoning

• 2024 margin: Lean R (+9.4) · D 44.9% · R 54.4%
• 2008→2024 swing: -36.1pp toward R · 2008: 26.6pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+1.9 2016: D+3.0 2012: D+27.7 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.68%
• Current HPI: 250.9103
• 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

-13.6% since first listed

3 events — show timeline

• 2026-06-08 Price Changed $69,000 MLSNOW
• 2026-05-18 Price Changed $72,900 MLSNOW
• 2026-04-24 Listed $79,900 MLSNOW

Property tax history

-0.2%/yr

Latest (2025): $194 · -0.3% YoY. Source: county tax records.