139 S Watt St · Chillicothe, OH 45601

$120,000

3 bd · 2.0 ba · 1,122 sqft · SingleFamily public records · 18 Days on market

Built 1900 0.34 ac lot Est $154k · 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.5/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is eligible under the Freddie Mac First Look Initiative through June 8, 2025 . . large rooms in this home . . previous owner added a kitchenette upstairs . . large garage with alley access and separate electric . . current owners just installed new shingles . . as is

Key facts

• 0.34 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Has garage; Other parking features
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Single-family residence; Two levels; Residential property
• Construction: Aluminum siding
• Exterior features: Asbestos shingle roof

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: One main-level bedroom
• Flooring: Laminate floors
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Electric water heater; Dishwasher; Range

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.2% in Chillicothe — 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 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chillicothe Primary School (570 students, 0% FRL); Chillicothe Middle School (math 29% / reading 43%, grade F, #541 of 654 statewide, top 83%, 395 students, 0% FRL); Chillicothe High School (math 32% / reading 57%, grade F, #470 of 781 statewide, top 62%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 178 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ross County population projected at -12% 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; list at $120k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.15% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $153,714
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
760 E 4th St	0.20mi	3/2.0	1,120 (-0%)	2mo	$175,000	$156	88
783 Adams Ave	0.17mi	3/2.0	1,190 (+6%)	7mo	$135,000	$113	76
623 Glencroft Ave	0.33mi	3/1.0	1,056 (-6%)	2mo	$145,000	$137	69
748 Jefferson Ave	0.09mi	3/1.0	960 (-14%)	4mo	$159,900	$167	65
619 E 2nd St	0.34mi	2/1.0 (-1)	1,056 (-6%)	2mo	$156,000	$148	64
945 Columbus St	0.50mi	3/1.0	1,152 (+3%)	8mo	$189,900	$165	62
831 Jefferson Ave	0.22mi	2/1.0 (-1)	1,028 (-8%)	7mo	$75,500	$73	61
832 Main St	0.34mi	2/1.0 (-1)	1,216 (+8%)	6mo	$100,000	$82	57
675 Cox Ave	0.54mi	4/1.5 (+1)	1,050 (-6%)	2mo	$153,000	$146	55
95 N Brownell St	0.40mi	3/1.0	1,240 (+10%)	7mo	$14,000	$11	54
182 Hirn St	0.74mi	2/1.0 (-1)	1,162 (+4%)	6mo	$138,500	$119	46
343 E Water St	0.65mi	4/1.0 (+1)	1,216 (+8%)	1mo	$160,000	$132	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: 0.4%
• Equity multiple: 1.02×
• Total profit: $560
• Equity at exit: $17,892

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $26,212
• Equity at exit: $10,375

Cash invested: $33,600 (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 45601

• Active inventory: 178
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $314

Break-even live

Break-even rent $981

Max offer price $120,000

Occupancy floor 72%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $120,000 Active 18 DOM
2. 2026-06-17
   days on market $120,000 Active 17 DOM
3. 2026-06-17
   price $120,000 Active 16 DOM
4. 2026-06-16
   days on market $124,900 Active 16 DOM
5. 2026-06-16
   price $124,900 Active 15 DOM
6. 2026-06-15
   days on market $129,900 Active 15 DOM
7. 2026-06-13
   days on market $129,900 Active 13 DOM
8. 2026-06-12
   days on market $129,900 Active 12 DOM
9. 2026-06-09
   days on market $129,900 Active 9 DOM
10. 2026-06-08
    days on market $129,900 Active 8 DOM
11. 2026-06-08
    days on market $129,900 Active 7 DOM
12. 2026-06-07
    days on market $129,900 Active 6 DOM
13. 2026-06-04
    days on market $129,900 Active 3 DOM
14. 2026-06-02
    days on market $129,900 Active 2 DOM
15. 2026-06-01
    statusdays on market $129,900 Active 1 DOM
16. 2026-05-31
    days on market $129,900 Coming Soon 3 DOM
17. 2026-05-28
    historical $129,900
18. 2025-07-18
    soldstatus $63,000 Closed 281-char remark

    Show marketing remark (281 chars)

    This property is eligible under the Freddie Mac First Look Initiative through June 8, 2025 . . large rooms in this home . . previous owner added a kitchenette upstairs . . large garage with alley access and separate electric . . current owners just installed new shingles . . as is

19. 2025-07-11
    status Pending 281-char remark

    Show marketing remark (281 chars)

    This property is eligible under the Freddie Mac First Look Initiative through June 8, 2025 . . large rooms in this home . . previous owner added a kitchenette upstairs . . large garage with alley access and separate electric . . current owners just installed new shingles . . as is

20. 2025-06-25
    price $64,900 281-char remark

    Show marketing remark (281 chars)

    This property is eligible under the Freddie Mac First Look Initiative through June 8, 2025 . . large rooms in this home . . previous owner added a kitchenette upstairs . . large garage with alley access and separate electric . . current owners just installed new shingles . . as is

21. 2025-05-09
    listed $66,900 Active 281-char remark

    Show marketing remark (281 chars)

    This property is eligible under the Freddie Mac First Look Initiative through June 8, 2025 . . large rooms in this home . . previous owner added a kitchenette upstairs . . large garage with alley access and separate electric . . current owners just installed new shingles . . as is

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,510 · $126/mo
• Expected delta: +$362/yr (+$30/mo · 31.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $16,544
• − Mortgage interest: −$6,722
• − Property taxes: −$1,147
• − Insurance: −$600
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$3,491
• Taxable income: $1,938
• Est. tax owed @ 24.0%: −$465
• After-tax cash flow: $3,307/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: Chillicothe City
• NCES district ID: 3904374
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $37,990
• Composite: 34.55/100
• National rank: #5174
• State rank: #535 of 656 in OH

Livability — Chillicothe

• Score: 62/100
• State rank: #909
• US rank: #17195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chillicothe, OH
• County: Ross · 75,517 people
• Population (ZIP): 56,453
• Household income: $57,430
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 10.6

Population outlook (Ross County) Hauer SSP2

• Today (2025): 75,482 people
• By 2030: 74,035 · -1.9%
• By 2040: 70,702 · -6.3%
• By 2050: 66,706 · -11.6%
• By 2075: 55,398 · -26.6%
• By 2100: 42,197 · -44.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ross

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -32.1pp toward R · 2008: -7.2pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+35.2 2016: R+27.4 2012: R+2.4 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.40%
• Current HPI: 205.7051
• 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

+94.2% since first listed

5 events — show timeline

• 2026-05-28 Coming Soon $129,900 SVAR
• 2025-07-18 Sold (MLS) $63,000 SVAR
• 2025-07-11 Pending — SVAR
• 2025-06-25 Price Changed $64,900 SVAR
• 2025-05-09 Listed $66,900 SVAR

Property tax history

-3.6%/yr

Latest (2025): $1,147 · +13.7% YoY. Source: county tax records.