161 West St · Geneva, OH 44041

$145,000

5 bd · 2.0 ba · 688 sqft · MultiFamily · 104 Days on market

Built 1950 Good condition 0.33 ac lot ↓ 22% since listing

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Two homes on one lot in the City of Geneva. Would be potential owner-occupants, comfortable living in the primary home; all interior newly remodeled. Great potential with the back tenant's rent contributing to affordability and long-term financial gain. Investors, these cottages are close to amenities for your tenants, and easy to manage. Major renovations have been completed to the primary cottage in summer 2025. New roof, windows, interior flooring, insulated doors, all new kitchen and bath renovated also. Electrical and mechanical upgrades to both cottages in the past two years. Close to hospital and Rt. 20, a major east/ West travel route. Plentiful parking, 6-7 spots. Shared garden area and shed - and more yard space behind. Separate septic systems - and the from house system is only a few years old. Nearby shopping, parks, restaurants, and downtown area for events - all within minutes.

Key facts

• New bath
• New kitchen
• Mechanical upgrades

Tags

• NEW ROOF
• NEW WINDOWS
• NEW KITCHEN
• NEW BATH
• ELECTRICAL UPGRADES
• MECHANICAL UPGRADES

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.6% in Geneva — 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 74/100 on livability (#291 in OH, #4,770 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Geneva Area City (town): math 52% / reading 60% proficiency, ranked #362 of 656 in OH (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 86 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 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 1950 — 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.3

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,122
• Equity at exit: $21,620

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $21,428
• Equity at exit: $12,537

Cash invested: $40,600 (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 44041

• Home prices YoY: -31.3%
• Active inventory: 86
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $1,653 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $304

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,654
Total (2 units)			$1,653

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $145,000 Active 104 DOM
2. 2026-06-17
   pricedays on market $145,000 Active 103 DOM
3. 2026-06-16
   days on market $155,000 Active 102 DOM
4. 2026-06-15
   days on market $155,000 Active 101 DOM
5. 2026-06-13
   days on market $155,000 Active 99 DOM
6. 2026-06-12
   days on market $155,000 Active 98 DOM
7. 2026-06-09
   days on market $155,000 Active 95 DOM
8. 2026-06-08
   days on market $155,000 Active 94 DOM
9. 2026-06-08
   days on market $155,000 Active 93 DOM
10. 2026-06-07
    days on market $155,000 Active 92 DOM
11. 2026-06-04
    days on market $155,000 Active 89 DOM
12. 2026-06-02
    days on market $155,000 Active 88 DOM
13. 2026-06-01
    days on market $155,000 Active 87 DOM
14. 2026-05-31
    days on market $155,000 Active 86 DOM
15. 2026-05-16
    price $155,000 904-char remark

    Show marketing remark (904 chars)

    Two homes on one lot in the City of Geneva. Would be potential owner-occupants, comfortable living in the primary home; all interior newly remodeled. Great potential with the back tenant's rent contributing to affordability and long-term financial gain. Investors, these cottages are close to amenities for your tenants, and easy to manage. Major renovations have been completed to the primary cottage in summer 2025. New roof, windows, interior flooring, insulated doors, all new kitchen and bath renovated also. Electrical and mechanical upgrades to both cottages in the past two years. Close to hospital and Rt. 20, a major east/ West travel route. Plentiful parking, 6-7 spots. Shared garden area and shed - and more yard space behind. Separate septic systems - and the from house system is only a few years old. Nearby shopping, parks, restaurants, and downtown area for events - all within minutes.

16. 2026-04-14
    price $165,000 904-char remark

    Show marketing remark (904 chars)

    Two homes on one lot in the City of Geneva. Would be potential owner-occupants, comfortable living in the primary home; all interior newly remodeled. Great potential with the back tenant's rent contributing to affordability and long-term financial gain. Investors, these cottages are close to amenities for your tenants, and easy to manage. Major renovations have been completed to the primary cottage in summer 2025. New roof, windows, interior flooring, insulated doors, all new kitchen and bath renovated also. Electrical and mechanical upgrades to both cottages in the past two years. Close to hospital and Rt. 20, a major east/ West travel route. Plentiful parking, 6-7 spots. Shared garden area and shed - and more yard space behind. Separate septic systems - and the from house system is only a few years old. Nearby shopping, parks, restaurants, and downtown area for events - all within minutes.

17. 2026-03-06
    listed $199,000 Active 904-char remark

    Show marketing remark (904 chars)

    Two homes on one lot in the City of Geneva. Would be potential owner-occupants, comfortable living in the primary home; all interior newly remodeled. Great potential with the back tenant's rent contributing to affordability and long-term financial gain. Investors, these cottages are close to amenities for your tenants, and easy to manage. Major renovations have been completed to the primary cottage in summer 2025. New roof, windows, interior flooring, insulated doors, all new kitchen and bath renovated also. Electrical and mechanical upgrades to both cottages in the past two years. Close to hospital and Rt. 20, a major east/ West travel route. Plentiful parking, 6-7 spots. Shared garden area and shed - and more yard space behind. Separate septic systems - and the from house system is only a few years old. Nearby shopping, parks, restaurants, and downtown area for events - all within minutes.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,836
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$4,218
• Taxable income: $1,422
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $3,304/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This property has been recently renovated with new kitchen, bathroom, roof, siding, flooring, and interior paint. It is move-in ready with good curb appeal and potential for further value through landscaping and exterior painting.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting exterior — Fresh paint improves curb appeal and value
• Both Landscaping and fencing — Improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting exterior — Fresh paint improves curb appeal and value ↑
• Both Landscaping and fencing — Improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Geneva Area City
• NCES district ID: 3904405
• Math proficiency: 52% ▼ -16.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $43,525
• Composite: 47.12/100
• National rank: #2328
• State rank: #362 of 656 in OH

Livability — Geneva

• Score: 74/100
• State rank: #291
• US rank: #4770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneva, OH
• County: Ashtabula · 97,617 people
• Metro: Cleveland, OH
• Population (ZIP): 13,992
• Household income: $58,438
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 12.5

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.04%
• Current HPI: 230.8747
• 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

-22.1% since first listed

3 events — show timeline

• 2026-05-16 Price Changed $155,000 MLSNOW
• 2026-04-14 Price Changed $165,000 MLSNOW
• 2026-03-06 Listed $199,000 MLSNOW