120 E Butler St · Bryan, OH 43506

$129,900

4 bd · 2.0 ba · 2,068 sqft · MultiFamily public records · 6 Days on market

Built 1920 8,712 sqft lot Est $118k · 10% over

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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
• Schools +5.2/10.0
• Livability +3.9/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +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: 2 units. confirmed

Listing remarks MLS

NICE DUPLEX IN A GREAT LOCATION CLOSE TO TOWN. WONDERFUL OPPORTUNITY TO INVEST IN REAL ESTATE. GREAT CASH FLOW! DON'T MISS THIS ONE! SET YOUR APPOINTMENT UP TODAY.

Key facts

• Zoned as commercial
• Parking spaces
• Carport

Tags

• ZONED AS COMMERCIAL
• ZONED AS RESIDENTIAL
• GRAVEL DRIVEWAY
• CARPORT
• PARKING SPACES
• KITCHEN HOOKUPS

Property features AI

Finance

• Financial info: Two-unit building in one structure; Tenant and owner pay arrangements: other

Exterior

• Parking: Has carport (1 space); Additional parking; Gravel parking; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Storm and sanitary sewer
• Home design: Residential income property (duplex); Two-story
• Construction: Shingle siding; Block foundation; Built as duplex
• Exterior features: Shingle roof; Corner lot

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Flooring: Carpet; Hardwood; Vinyl; Other
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Basement present; Other interior features
• Laundry & utility: Laundry on main level; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive. Per door: $347/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 12.7% vs local median 4.1% in Bryan — 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 78/100 on livability (#170 in OH, #2,623 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Bryan City (town): math 60% / reading 65% proficiency, ranked #266 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bryan Elementary (math 63% / reading 63%, grade B, #573 of 1,584 statewide, top 37%, 884 students, 31% FRL); Bryan Middle School/High School (math 57% / reading 66%, grade B-, #231 of 781 statewide, top 30%, 936 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Williams 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $83k; list at $130k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 12.70%
• Cash-on-cash: 22.87%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $117,876
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128-130 N Beech St	0.25mi	4/2.0	1,980 (-4%)	2mo	$112,500	$57	80

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: 15.8%
• Equity multiple: 1.64×
• Total profit: $23,122
• Equity at exit: $19,369

10-year hold

• IRR: 24.4%
• Equity multiple: 3.12×
• Total profit: $77,066
• Equity at exit: $11,231

Cash invested: $36,372 (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 43506

• Home prices YoY: -21.1%
• Active inventory: 64
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,992 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $693

Break-even live

Break-even rent $1,114

Max offer price $129,900

Occupancy floor 60%

Sensitivity live

Price	-10% $767	-5% $730	+0% $693	+5% $656	+10% $620
Rent	-10% $536	-5% $615	+0% $693	+5% $772	+10% $851
Rate	-1.0pp $759	-0.5pp $726	base $693	+0.5pp $660	+1.0pp $625

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,992
Total (2 units)			$1,992

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $129,900 Coming Soon 6 DOM
2. 2026-06-18
   days on market $129,900 Coming Soon 4 DOM
3. 2026-06-17
   days on market $129,900 Coming Soon 3 DOM
4. 2026-06-16
   days on market $129,900 Coming Soon 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $129,900 Coming Soon 1 DOM

ⓘ 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: $1,741 · $145/mo
• Projected year-2 tax: $1,884 · $157/mo
• Expected delta: +$142/yr (+$12/mo · 8.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,904
• − Mortgage interest: −$7,276
• − Property taxes: −$1,741
• − Insurance: −$650
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$3,779
• Taxable income: $6,633
• Est. tax owed @ 24.0%: −$1,592
• After-tax cash flow: $6,727/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: Bryan City
• NCES district ID: 3904367
• Math proficiency: 60% ▼ -8.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $41,709
• Composite: 52.34/100
• National rank: #1587
• State rank: #266 of 656 in OH

Livability — Bryan

• Score: 78/100
• State rank: #170
• US rank: #2623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bryan, OH
• County: Williams · 37,585 people
• City population: 14,691
• Population (ZIP): 14,691
• Household income: $60,705
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 3.6

Population outlook (Williams County) Hauer SSP2

• Today (2025): 36,125 people
• By 2030: 35,264 · -2.4%
• By 2040: 33,264 · -7.9%
• By 2050: 31,072 · -14.0%
• By 2075: 26,553 · -26.5%
• By 2100: 21,318 · -41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Williams

• 2024 margin: Solid R (+48.2) · D 25.4% · R 73.7%
• 2008→2024 swing: -39.0pp toward R · 2008: -9.3pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+46.2 2016: R+43.8 2012: R+16.3 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.45%
• Current HPI: 211.2824
• 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

+188.7% since first listed

6 events — show timeline

• 2026-06-15 Coming Soon $129,900 NORIS
• 2021-02-22 Sold (Public Records) $83,250 Public Records
• 2021-02-19 Sold (MLS) $82,500 NORIS
• 2021-02-02 Price Changed $82,500 NORIS
• 2020-02-18 Listed $77,500 NORIS
• 2016-04-20 Sold (Public Records) $45,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,741 · +0.0% YoY. Source: county tax records.