685 N Walnut St · Logan, OH 43138

$159,900

3 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 29 Days on market

Built 1960 6,969 sqft lot Est $206k · 22% under

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.9/10.0
• Schools +4.7/10.0
• 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

Great Investor opportunity for a flip or rental! Home in need of repairs and updates, selling ''as is'' condition. Kitchen & bath on bottom level. Price to sell.

Key facts

• Front porch
• Spacious deck
• Wood privacy fence

Tags

• FRONT PORCH
• SPACIOUS DECK
• WOOD PRIVACY FENCE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; No common walls; Built in 1960
• Construction: Block foundation
• Exterior features: Deck; Fenced yard; Detached shed(s)

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Propane heating; Central air conditioning
• Interior features: Living area reported as 1,720 (source field present)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (1.2% below list).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.4% in Logan — 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 (#162 in OH, #2,412 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Logan-Hocking Local (rural): math 55% / reading 58% proficiency, ranked #354 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 163 active listings in the ZIP; 11 units permitted in Hocking 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 $5k of value loss. Plan a longer hold.
• Hocking 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 29 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $160k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,501 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.99% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $206,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
687 N Walnut St	0.01mi	2/1.0 (-1)	1,092 (-7%)	5mo	$16,958	$16	78
335 Vine St	0.29mi	3/1.0	1,200 (+2%)	6mo	$219,500	$183	77
424 N Walnut St	0.17mi	2/1.5 (-1)	1,209 (+3%)	7mo	$224,900	$186	74
707 Edgehill Dr	0.23mi	3/1.5	1,241 (+6%)	5mo	$225,900	$182	73
347 Belva Ct	0.29mi	3/1.0	1,273 (+9%)	6mo	$206,999	$163	67
825 Edgehill Dr	0.31mi	4/2.0 (+1)	1,232 (+5%)	6mo	$352,500	$286	63
683 E Hunter St	0.59mi	2/2.0 (-1)	1,162 (-1%)	0mo	$205,000	$176	62
231 Gallagher Ave	0.75mi	2/1.0 (-1)	1,164 (-1%)	2mo	$119,900	$103	57
686 E Hunter St	0.58mi	3/1.0	1,232 (+5%)	10mo	$184,000	$149	56
680 E Hunter St	0.56mi	3/1.5	1,080 (-8%)	3mo	$120,000	$111	56
235 W 2nd St	0.62mi	2/1.5 (-1)	1,235 (+5%)	9mo	$230,000	$186	47
565 E Main St	0.56mi	2/1.0 (-1)	1,053 (-10%)	7mo	$145,000	$138	46

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-13,761
• Equity at exit: $23,842

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,647
• Equity at exit: $13,825

Cash invested: $44,772 (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 43138

• Home prices YoY: -29.9%
• Active inventory: 163
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,579 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$96 /mo · $1,154/yr
• Insurance: −$67
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $191

Break-even live

Break-even rent $1,338

Max offer price $159,900

Occupancy floor 83%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $159,900 Active 29 DOM
2. 2026-06-17
   days on market $159,900 Active 28 DOM
3. 2026-06-16
   days on market $159,900 Active 27 DOM
4. 2026-06-15
   days on market $159,900 Active 26 DOM
5. 2026-06-13
   days on market $159,900 Active 24 DOM
6. 2026-06-13
   days on market $159,900 Active 23 DOM
7. 2026-06-09
   days on market $159,900 Active 20 DOM
8. 2026-06-08
   days on market $159,900 Active 19 DOM
9. 2026-06-07
   pricedays on market $159,900 Active 18 DOM
10. 2026-06-05
    days on market $165,000 Active 15 DOM
11. 2026-06-03
    days on market $165,000 Active 14 DOM
12. 2026-06-02
    days on market $165,000 Active 13 DOM
13. 2026-06-01
    days on market $165,000 Active 12 DOM
14. 2026-05-31
    days on market $165,000 Active 11 DOM
15. 2026-05-20
    listed $165,000 Active
16. 2024-12-03
    soldstatus $52,000
17. 2024-11-20
    soldstatus $52,000 Closed 167-char remark

    Show marketing remark (167 chars)

    Great Investor opportunity for a flip or rental! Home in need of repairs and updates, selling ''as is'' condition. Kitchen & bath on bottom level. Price to sell.

18. 2024-11-13
    status Pending 167-char remark

    Show marketing remark (167 chars)

    Great Investor opportunity for a flip or rental! Home in need of repairs and updates, selling ''as is'' condition. Kitchen & bath on bottom level. Price to sell.

19. 2024-11-06
    price $54,000 167-char remark

    Show marketing remark (167 chars)

    Great Investor opportunity for a flip or rental! Home in need of repairs and updates, selling ''as is'' condition. Kitchen & bath on bottom level. Price to sell.

20. 2024-09-19
    listed $62,000 Active 167-char remark

    Show marketing remark (167 chars)

    Great Investor opportunity for a flip or rental! Home in need of repairs and updates, selling ''as is'' condition. Kitchen & bath on bottom level. Price to sell.

21. 2004-09-27
    soldstatus $55,000

ⓘ 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: $1,154 · $96/mo
• Projected year-2 tax: $1,824 · $152/mo
• Expected delta: +$670/yr (+$56/mo · 58.1%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,953
• − Mortgage interest: −$8,957
• − Property taxes: −$1,154
• − Insurance: −$1,466
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$4,652
• Taxable loss: −$308
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $2,364/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: Logan-Hocking Local
• NCES district ID: 3904424
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $42,737
• Composite: 47.48/100
• National rank: #2276
• State rank: #354 of 656 in OH

Livability — Logan

• Score: 78/100
• State rank: #162
• US rank: #2412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logan, OH
• County: Hocking · 26,658 people
• Metro: Columbus, OH
• Population (ZIP): 19,147
• Household income: $65,028
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 13.8

Population outlook (Hocking County) Hauer SSP2

• Today (2025): 26,807 people
• By 2030: 25,723 · -4.0%
• By 2040: 23,370 · -12.8%
• By 2050: 20,947 · -21.9%
• By 2075: 15,624 · -41.7%
• By 2100: 11,134 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hocking

• 2024 margin: Solid R (+44.3) · D 27.5% · R 71.8%
• 2008→2024 swing: -43.5pp toward R · 2008: -0.8pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+42.4 2016: R+36.5 2012: R+1.1 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.44%
• Current HPI: 253.6737
• 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

+200.0% since first listed

7 events — show timeline

• 2026-05-20 Listed $165,000 CBRMLS
• 2024-12-03 Sold (Public Records) $52,000 Public Records
• 2024-11-20 Sold (MLS) $52,000 CBRMLS
• 2024-11-13 Pending — CBRMLS
• 2024-11-06 Price Changed $54,000 CBRMLS
• 2024-09-19 Listed $62,000 CBRMLS
• 2004-09-27 Sold (Public Records) $55,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,154 · +18.8% YoY. Source: county tax records.