358 W Locust · Wilmington, OH 45177

$144,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 31 Days on market

Built 1937 0.47 ac lot Est $186k · 22% under

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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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.3/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bed one bath home in the heart of Wilmington! Convenient to everything, this property has a very generous lot for room to roam. This property has a full basement and off-street parking.

Key facts

• 0.47 acre lot
• Built 1937
• Listed 31 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Utilities: Public water; Public sewer; Natural gas; Water heating listed as other
• Home design: Single family home; Two stories; Residential zoning
• Construction: Block foundation
• Exterior features: Shingle roof; Vinyl siding; Window features listed as other

Interior

• Bedrooms: Three bedrooms, all on the second level; Primary bedroom on the second level
• Bathrooms: One full bathroom located on the second level; Primary bathroom described as 'Other'
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Seven total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $359 ($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: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.2% in Wilmington — 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 77/100 on livability (#202 in OH, #3,127 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities D, commute F.
• Wilmington City (town): math 42% / reading 51% proficiency, ranked #492 of 656 in OH (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 107 active listings in the ZIP; 119 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

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.
• Clinton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $19k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1937 — 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: 1.13% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.63%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $185,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 N Wood St	0.09mi	3/2.0	1,090 (-13%)	2mo	$220,000	$202	68
637 Cross Creek Dr	0.46mi	3/2.0	1,233 (-1%)	10mo	$200,000	$162	65
207 Richardson Pl	0.30mi	3/1.0	1,064 (-15%)	4mo	$203,500	$191	58
585 N Spring St	0.50mi	2/1.0 (-1)	1,154 (-8%)	2mo	$145,000	$126	58
266 Hawley Ave	0.69mi	4/1.0 (+1)	1,200 (-4%)	1mo	$179,000	$149	56
136 High St	0.59mi	2/1.0 (-1)	1,140 (-9%)	1mo	$190,000	$167	52
289 S Walnut St	0.53mi	2/1.0 (-1)	1,347 (+8%)	8mo	$149,500	$111	51
172 S South St	0.42mi	3/1.5	1,380 (+11%)	14mo	$179,000	$130	49
261 A St	0.75mi	3/2.0	1,317 (+6%)	4mo	$210,000	$159	48
313 N High St	0.61mi	3/1.0	1,126 (-10%)	10mo	$165,000	$147	47
458 Virginia Cir	0.72mi	3/2.0	1,352 (+8%)	9mo	$195,000	$144	41
357 E Vine St	0.74mi	2/1.0 (-1)	1,326 (+6%)	12mo	$187,500	$141	40

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-600
• Equity at exit: $21,605

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $28,897
• Equity at exit: $12,528

Cash invested: $40,572 (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 45177

• Active inventory: 107
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,640 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$116 /mo · $1,389/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $359

Break-even live

Break-even rent $1,185

Max offer price $144,900

Occupancy floor 73%

Sensitivity live

Price	-10% $442	-5% $400	+0% $359	+5% $318	+10% $277
Rent	-10% $230	-5% $295	+0% $359	+5% $424	+10% $489
Rate	-1.0pp $432	-0.5pp $396	base $359	+0.5pp $322	+1.0pp $284

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $144,900 Active 31 DOM
2. 2026-06-17
   days on market $144,900 Active 30 DOM
3. 2026-06-16
   days on market $144,900 Active 29 DOM
4. 2026-06-15
   price $144,900 Active 28 DOM
5. 2026-06-15
   days on market $149,000 Active 28 DOM
6. 2026-06-14
   pricedays on market $149,000 Active 26 DOM
7. 2026-06-10
   days on market $154,000 Active 23 DOM
8. 2026-06-09
   days on market $154,000 Active 22 DOM
9. 2026-06-08
   days on market $154,000 Active 21 DOM
10. 2026-06-07
    days on market $154,000 Active 20 DOM
11. 2026-06-05
    pricedays on market $154,000 Active 17 DOM
12. 2026-06-03
    days on market $159,000 Active 16 DOM
13. 2026-06-02
    days on market $159,000 Active 15 DOM
14. 2026-06-01
    days on market $159,000 Active 14 DOM
15. 2026-05-31
    days on market $159,000 Active 13 DOM
16. 2026-05-31
    days on market $159,000 Active 12 DOM
17. 2026-05-18
    listed $164,000 Active

    Show marketing remark (192 chars)

    Three bed one bath home in the heart of Wilmington! Convenient to everything, this property has a very generous lot for room to roam. This property has a full basement and off-street parking.

18. 2026-05-18
    listed $164,000 Active 192-char remark

    Show marketing remark (192 chars)

    Three bed one bath home in the heart of Wilmington! Convenient to everything, this property has a very generous lot for room to roam. This property has a full basement and off-street parking.

19. 2019-12-06
    soldstatus $97,300 Sold 242-char remark

    Show marketing remark (242 chars)

    Get out of that rental and buy this!! 2 story Dutch Colonial on over 1/2 acre lot. Home has 3 bedrooms , 1 full bath, full unfinished basement and great location to High School and downtown. Home includes appliances. Updates just completed.

20. 2019-10-30
    historical Contingency Pending 242-char remark

    Show marketing remark (242 chars)

    Get out of that rental and buy this!! 2 story Dutch Colonial on over 1/2 acre lot. Home has 3 bedrooms , 1 full bath, full unfinished basement and great location to High School and downtown. Home includes appliances. Updates just completed.

21. 2019-10-04
    listed $97,300 Active 242-char remark

    Show marketing remark (242 chars)

    Get out of that rental and buy this!! 2 story Dutch Colonial on over 1/2 acre lot. Home has 3 bedrooms , 1 full bath, full unfinished basement and great location to High School and downtown. Home includes appliances. Updates just completed.

22. 2019-03-15
    soldstatus $63,000
23. 2019-03-11
    soldstatus $63,000 Sold
24. 2019-02-11
    historical Accept Backup Offers
25. 2019-02-06
    listed $62,500 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: $1,389 · $116/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$436/yr (+$36/mo · 31.4%)

ⓘ 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 ≥99°F today · 19 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: $19,678
• − Mortgage interest: −$8,117
• − Property taxes: −$1,389
• − Insurance: −$724
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$4,215
• Taxable income: $2,084
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $3,814/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: Wilmington City
• NCES district ID: 3904511
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 51% ▼ -6.00%
• Median HH income: $43,201
• Composite: 39.2/100
• National rank: #4020
• State rank: #492 of 656 in OH

Livability — Wilmington

• Score: 77/100
• State rank: #202
• US rank: #3127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, OH
• County: Clinton · 46,911 people
• Population (ZIP): 22,442
• Household income: $70,483
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 9.5

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 41,352 people
• By 2030: 40,831 · -1.3%
• By 2040: 39,049 · -5.6%
• By 2050: 36,408 · -12.0%
• By 2075: 29,652 · -28.3%
• By 2100: 20,736 · -49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+54.6) · D 22.3% · R 76.9%
• 2008→2024 swing: -24.3pp toward R · 2008: -30.3pp · 2024: -54.6pp
• All cycles: 2024: R+54.6 2020: R+52.6 2016: R+52.6 2012: R+35.2 2008: R+30.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.35%
• Current HPI: 238.9182
• 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

+162.4% since first listed

9 events — show timeline

• 2026-05-18 Listed $164,000 MLSNOW
• 2026-05-18 Listed $164,000 Cincy MLS
• 2019-12-06 Sold (MLS) $97,300 Cincy MLS
• 2019-10-30 Contingent — Cincy MLS
• 2019-10-04 Listed $97,300 Cincy MLS
• 2019-03-15 Sold (Public Records) $63,000 Public Records
• 2019-03-11 Sold (MLS) $63,000 Cincy MLS
• 2019-02-11 Contingent — Cincy MLS
• 2019-02-06 Listed $62,500 Cincy MLS

Property tax history

+3.8%/yr

Latest (2025): $1,389 · -3.4% YoY. Source: county tax records.