423 S Stearns Ave · Deshler, OH 43516

$139,000

2 bd · 1.0 ba · 1,358 sqft · SingleFamily public records · 162 Days on market

Built 1871 10,001 sqft lot $102/sqft · at area comps Est $138k · at est.

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Why this score? — see what drove the D+ 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 +13.9/30.0
• ARV discount +7.0/15.0
• Appreciation +6.8/10.0
• Schools +6.0/10.0
• DSCR +4.2/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious property with big detach garage has electric and heat hook up. Walking distance to reservoir ,Set up showing today before gone

Key facts

• Detach garage
• Heat hook up
• Electric hook up

Tags

• DETACH GARAGE
• ELECTRIC HOOK UP
• HEAT HOOK UP
• WALKING DISTANCE TO RESERVOIR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $14 ($170/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 $112k (19.7% below list).
• Recommended offer: $112k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 1.9% in Deshler — 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 65/100 on livability (#713 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Patrick Henry Local (rural): math 69% / reading 72% proficiency, ranked #148 of 656 in OH (top 23%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 18 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($82k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $6k of equity ($961 loan paydown + $5k appreciation (3.5% local appreciation)).
• Henry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $14k; list at $139k implies a 893% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1871 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,599 (19.7% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1871 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.80% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (median comp): $137,622
• List price: $139,000
• Delta: 1.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 E Elm St	0.49mi	3/1.0 (+1)	1,287 (-5%)	1mo	$139,900	$109	63
410 E Bartlow St	0.21mi	3/2.0 (+1)	1,265 (-7%)	10mo	$175,000	$138	61
108 E Maple St	0.38mi	3/1.0 (+1)	1,288 (-5%)	10mo	$130,000	$101	61
116 E Plum St	0.55mi	3/1.0 (+1)	1,376 (+1%)	18mo	$125,000	$91	52
529 W Maple St	0.73mi	3/1.0 (+1)	1,440 (+6%)	2mo	$140,000	$97	49
319 E Plum St	0.55mi	3/1.0 (+1)	1,544 (+14%)	1mo	$159,900	$104	46
135 W Elm St	0.51mi	3/1.0 (+1)	1,497 (+10%)	14mo	$108,000	$72	42
227 N Park St	0.57mi	3/1.0 (+1)	1,232 (-9%)	18mo	$170,000	$138	38
415 N Park St	0.69mi	2/1.0	1,500 (+10%)	16mo	$165,000	$110	37
521 E Elm St	0.51mi	2/2.0	1,212 (-11%)	23mo	$100,000	$83	35
523 N Ash St	0.68mi	3/1.0 (+1)	1,244 (-8%)	22mo	$157,000	$126	31
533 N Ash St	0.70mi	3/1.0 (+1)	1,232 (-9%)	20mo	$135,000	$110	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.55×
• Total profit: $21,582
• Equity at exit: $66,731

10-year hold

• IRR: 11.5%
• Equity multiple: 2.82×
• Total profit: $70,717
• Equity at exit: $106,259

Cash invested: $38,920 (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 43516

• Home prices YoY: 1.4%
• Active inventory: 48
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$81 /mo · $968/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $14

Break-even live

Break-even rent $1,098

Max offer price $139,000

Occupancy floor 94%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $139,000 Active 162 DOM
2. 2026-06-17
   days on market $139,000 Active 161 DOM
3. 2026-06-16
   days on market $139,000 Active 160 DOM
4. 2026-06-15
   days on market $139,000 Active 159 DOM
5. 2026-06-13
   days on market $139,000 Active 157 DOM
6. 2026-06-12
   days on market $139,000 Active 156 DOM
7. 2026-06-09
   days on market $139,000 Active 153 DOM
8. 2026-06-08
   days on market $139,000 Active 152 DOM
9. 2026-06-08
   days on market $139,000 Active 151 DOM
10. 2026-06-07
    days on market $139,000 Active 150 DOM
11. 2026-06-04
    days on market $139,000 Active 147 DOM
12. 2026-06-02
    days on market $139,000 Active 146 DOM
13. 2026-06-01
    days on market $139,000 Active 145 DOM
14. 2026-05-31
    days on market $139,000 Active 144 DOM
15. 2026-01-07
    listed $139,000 Active 139-char remark

    Show marketing remark (139 chars)

    Spacious property with big detach garage has electric and heat hook up. Walking distance to reservoir ,Set up showing today before gone

16. 2012-12-11
    soldstatus $14,000 519-char remark

    Show marketing remark (519 chars)

    ERA LISTING. SMALL TOWN FIXER WITH ALOT OF SPACE FOR THE MONEY. LARGE DETACHED, TWO CAR GARAGE IS A PLUS. THIS IS A FANNIE MAE HOMEPATH PROPERTY AND COULD BE PURCHASED FOR AS LITTLE AS 3% DOWN. THIS PROPERTY IS APPROVED FOR THE HOMEPATH RENOVATION MORTGAGE PRODUCT. DURING THE FIRST 15 DAYS ON MARKET, REFERRED TO AS THE FIRST LOOK PERIOD, SELLER WILL ONLY CONSIDER OFFERS FROM OWNER OCCUPANT BUYERS. ALL OFFERS MUST BE SUBMITTED BY THE BUYER'S AGENT ONLINE AT www. homepath.com AGENTS BLAINE WELLS & KENT HILTY.

17. 2012-12-11
    soldstatus $14,000

    Show marketing remark (519 chars)

    ERA LISTING. SMALL TOWN FIXER WITH ALOT OF SPACE FOR THE MONEY. LARGE DETACHED, TWO CAR GARAGE IS A PLUS. THIS IS A FANNIE MAE HOMEPATH PROPERTY AND COULD BE PURCHASED FOR AS LITTLE AS 3% DOWN. THIS PROPERTY IS APPROVED FOR THE HOMEPATH RENOVATION MORTGAGE PRODUCT. DURING THE FIRST 15 DAYS ON MARKET, REFERRED TO AS THE FIRST LOOK PERIOD, SELLER WILL ONLY CONSIDER OFFERS FROM OWNER OCCUPANT BUYERS. ALL OFFERS MUST BE SUBMITTED BY THE BUYER'S AGENT ONLINE AT www. homepath.com AGENTS BLAINE WELLS & KENT HILTY.

18. 2012-08-17
    listed $19,900 519-char remark

    Show marketing remark (519 chars)

    ERA LISTING. SMALL TOWN FIXER WITH ALOT OF SPACE FOR THE MONEY. LARGE DETACHED, TWO CAR GARAGE IS A PLUS. THIS IS A FANNIE MAE HOMEPATH PROPERTY AND COULD BE PURCHASED FOR AS LITTLE AS 3% DOWN. THIS PROPERTY IS APPROVED FOR THE HOMEPATH RENOVATION MORTGAGE PRODUCT. DURING THE FIRST 15 DAYS ON MARKET, REFERRED TO AS THE FIRST LOOK PERIOD, SELLER WILL ONLY CONSIDER OFFERS FROM OWNER OCCUPANT BUYERS. ALL OFFERS MUST BE SUBMITTED BY THE BUYER'S AGENT ONLINE AT www. homepath.com AGENTS BLAINE WELLS & KENT HILTY.

19. 2012-08-17
    listed $14,000

    Show marketing remark (519 chars)

    ERA LISTING. SMALL TOWN FIXER WITH ALOT OF SPACE FOR THE MONEY. LARGE DETACHED, TWO CAR GARAGE IS A PLUS. THIS IS A FANNIE MAE HOMEPATH PROPERTY AND COULD BE PURCHASED FOR AS LITTLE AS 3% DOWN. THIS PROPERTY IS APPROVED FOR THE HOMEPATH RENOVATION MORTGAGE PRODUCT. DURING THE FIRST 15 DAYS ON MARKET, REFERRED TO AS THE FIRST LOOK PERIOD, SELLER WILL ONLY CONSIDER OFFERS FROM OWNER OCCUPANT BUYERS. ALL OFFERS MUST BE SUBMITTED BY THE BUYER'S AGENT ONLINE AT www. homepath.com AGENTS BLAINE WELLS & KENT HILTY.

20. 2005-08-01
    soldstatus $73,300
21. 1999-11-22
    soldstatus $64,000
22. 1991-07-25
    soldstatus $38,000

ⓘ 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: $968 · $81/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$600/yr (+$50/mo · 62.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,392
• − Mortgage interest: −$7,786
• − Property taxes: −$968
• − Insurance: −$695
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$4,044
• Taxable loss: −$2,243
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $708/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: Patrick Henry Local
• NCES district ID: 3904759
• Math proficiency: 69% ▼ -7.00%
• Reading proficiency: 72% ▼ -5.00%
• Median HH income: $50,401
• Composite: 59.81/100
• National rank: #897
• State rank: #148 of 656 in OH

Livability — Deshler

• Score: 65/100
• State rank: #713
• US rank: #12844

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deshler, OH
• County: Henry · 27,211 people
• City population: 3,014
• Population (ZIP): 3,014
• Household income: $82,500
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 5.4

Population outlook (Henry County) Hauer SSP2

• Today (2025): 27,204 people
• By 2030: 26,657 · -2.0%
• By 2040: 25,149 · -7.6%
• By 2050: 23,361 · -14.1%
• By 2075: 20,409 · -25.0%
• By 2100: 18,199 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 11% Two or more races 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: English 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7% Arabic 0%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+46.7) · D 26.2% · R 72.9%
• 2008→2024 swing: -33.8pp toward R · 2008: -12.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+43.5 2016: R+39.8 2012: R+18.6 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.54%
• Current HPI: 246.8546
• 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

+265.8% since first listed

8 events — show timeline

• 2026-01-07 Listed $139,000 NORIS
• 2012-12-11 Sold (MLS) $14,000 NORIS
• 2012-12-11 Sold (MLS) $14,000 NORIS
• 2012-08-17 Listed $14,000 NORIS
• 2012-08-17 Listed $19,900 NORIS
• 2005-08-01 Sold (Public Records) $73,300 Public Records
• 1999-11-22 Sold (Public Records) $64,000 Public Records
• 1991-07-25 Sold (Public Records) $38,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $968 · -3.3% YoY. Source: county tax records.