256 Ridge St · Leetonia, OH 44431

$49,900

2 bd · 1.0 ba · 861 sqft · SingleFamily public records · 20 Days on market

Built 1900 5,488 sqft lot Est $78k · 36% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity with endless potential! This charming bungalow is ready for its next chapter and offers an excellent opportunity for homeowners, investors, or flippers looking to build instant sweat equity. Featuring convenient first-floor laundry and a spacious backyard perfect for gardening, pets, play, or outdoor entertaining, this property is packed with possibilities. Bring your paintbrush, hammer, and imagination—this could be the transformation project you've been waiting for! Located in the heart of Leetonia's welcoming small-town community, you'll enjoy sidewalks, walkability to local restaurants, shopping, and Dairy Queen, plus easy access to State Route 11, State Rou

Key facts

• Spacious backyard
• Community events
• First-floor laundry

Tags

• FIRST-FLOOR LAUNDRY
• SPACIOUS BACKYARD
• EASY ACCESS TO STATE ROUTE 11
• EASY ACCESS TO STATE ROUTE 45
• EASY ACCESS TO STATE ROUTE 344
• COMMUNITY EVENTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($868 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#655 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Leetonia Exempted Village (town): math 47% / reading 46% proficiency, ranked #491 of 656 in OH (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 9 active listings in the ZIP; 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Columbiana County population projected at -23% 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (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. 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.
4. 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.
5. 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: 1.74% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.50%
• DSCR: 2.36
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $78,351
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Hazel St	0.13mi	2/1.0	936 (+9%)	18mo	$85,000	$91	64

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: 25.2%
• Equity multiple: 2.04×
• Total profit: $14,534
• Equity at exit: $7,440

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $41,795
• Equity at exit: $4,314

Cash invested: $13,972 (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 44431

• Home prices YoY: -19.8%
• Active inventory: 9
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $868 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$48 /mo · $574/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $355

Break-even live

Break-even rent $418

Max offer price $49,900

Occupancy floor 54%

Sensitivity live

Price	-10% $383	-5% $369	+0% $355	+5% $341	+10% $327
Rent	-10% $287	-5% $321	+0% $355	+5% $389	+10% $424
Rate	-1.0pp $380	-0.5pp $368	base $355	+0.5pp $342	+1.0pp $329

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   status $49,900 Pending 20 DOM
2. 2026-06-18
   days on market $49,900 Active 20 DOM
3. 2026-06-17
   days on market $49,900 Active 19 DOM
4. 2026-06-16
   days on market $49,900 Active 18 DOM
5. 2026-06-15
   days on market $49,900 Active 17 DOM
6. 2026-06-13
   days on market $49,900 Active 15 DOM
7. 2026-06-12
   days on market $49,900 Active 14 DOM
8. 2026-06-09
   days on market $49,900 Active 11 DOM
9. 2026-06-08
   days on market $49,900 Active 10 DOM
10. 2026-06-08
    days on market $49,900 Active 9 DOM
11. 2026-06-07
    days on market $49,900 Active 8 DOM
12. 2026-06-04
    days on market $49,900 Active 5 DOM
13. 2026-06-02
    days on market $49,900 Active 4 DOM
14. 2026-06-01
    days on market $49,900 Active 3 DOM
15. 2026-05-31
    days on market $49,900 Active 2 DOM
16. 2026-05-29
    listed $49,900 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: $574 · $48/mo
• Projected year-2 tax: $676 · $56/mo
• Expected delta: +$102/yr (+$9/mo · 17.8%)

ⓘ 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 ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,411
• − Mortgage interest: −$2,795
• − Property taxes: −$574
• − Insurance: −$250
• − Repairs & maintenance: −$833
• − Management: −$833
• − Depreciation: −$1,452
• Taxable income: $3,675
• Est. tax owed @ 24.0%: −$882
• After-tax cash flow: $3,379/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: Leetonia Exempted Village
• NCES district ID: 3910007
• Math proficiency: 47% ▼ -10.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $43,366
• Composite: 39.26/100
• National rank: #4001
• State rank: #491 of 656 in OH

Livability — Leetonia

• Score: 66/100
• State rank: #655
• US rank: #11612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leetonia, OH
• County: Columbiana · 99,532 people
• Population (ZIP): 4,607
• Household income: $64,872
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 3.4

Population outlook (Columbiana County) Hauer SSP2

• Today (2025): 98,353 people
• By 2030: 94,225 · -4.2%
• By 2040: 85,169 · -13.4%
• By 2050: 76,157 · -22.6%
• By 2075: 58,451 · -40.6%
• By 2100: 42,805 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 5% Slovak 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Columbiana

• 2024 margin: Solid R (+49.0) · D 25.1% · R 74.1%
• 2008→2024 swing: -41.4pp toward R · 2008: -7.6pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+44.9 2016: R+41.6 2012: R+12.0 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.85%
• Current HPI: 214.1259
• 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

1 event — show timeline

• 2026-05-29 Listed $49,900 MLSNOW

Property tax history

+21.7%/yr

Latest (2025): $574 · +15.2% YoY. Source: county tax records.