1561 E State St · Salem, OH 44460

$75,000

3 bd · 1.0 ba · 1,285 sqft · SingleFamily public records · 43 Days on market

Built 1908 10,227 sqft lot $58/sqft · 56% below area

---

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 +21.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +6.7/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property in the heart of Salem! This all brick home features three bedrooms. Two fireplaces on the first floor. Kitchen features an addition that could be used as a pantry or storage area. Take time to view this home today!

Key facts

• Near schools
• Unique floor plan
• Private oasis

Tags

• UNIQUE FLOOR PLAN
• DEEP BACKYARD
• PRIVATE OASIS
• MINUTES FROM DOWNTOWN
• NEAR PARKS
• NEAR SCHOOLS

Property features AI

Exterior

• Parking: Driveway (unpaved)
• Utilities: Public water; Public sewer
• Home design: Two-story single-family home; Entry on first floor
• Construction: Built in public-records year (2-story); Brick and frame construction with shake and wood siding; Block, brick/mortar, and stone foundation; Asphalt fiberglass roof
• Exterior features: Back yard; Front porch

Interior

• Kitchen: Range
• Bedrooms: Three bedrooms on the second floor (approx. 11x9, 11x9, and 10x9)
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air gas heating
• Interior features: Decorative fireplace in the dining room; Full unfinished basement with interior and exterior entry and walk-out access; Front porch
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($881 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.7% in Salem — 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 68/100 on livability (#538 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: amenities F, commute F, employment F.
• Salem City (town): math 53% / reading 56% proficiency, ranked #389 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Buckeye Elementary School (431 students, 0% FRL); Salem Junior High School (math 51% / reading 52%, grade C, #401 of 654 statewide, top 62%, 310 students, 54% FRL); Salem High School (math 47% / reading 77%, grade B-, #202 of 781 statewide, top 29%, 638 students, 42% FRL) — zoned schools average 32% FRL vs 48% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 91 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($60k/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 $519 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $30k; list at $75k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.18% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 7.1

CMA / ARV

• ARV (median comp): $157,164
• List price: $75,000
• Delta: -52.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 S Union Ave	0.27mi	3/1.0	1,352 (+5%)	1mo	$148,700	$110	78
443 S Union Ave	0.27mi	3/1.0	1,152 (-10%)	8mo	$72,000	$63	63
1828 E 3rd St	0.26mi	3/2.0	1,404 (+9%)	8mo	$200,000	$142	62
512 N Union Ave	0.36mi	3/1.5	1,128 (-12%)	2mo	$245,000	$217	59
845 Adams Ave	0.42mi	3/2.0	1,444 (+12%)	2mo	$198,000	$137	54
927 E 6th St	0.61mi	3/1.0	1,440 (+12%)	7mo	$118,450	$82	46
242 Vine St	0.59mi	3/1.0	1,472 (+15%)	4mo	$65,000	$44	45
807 E Third St	0.60mi	3/2.0	1,456 (+13%)	2mo	$220,000	$151	44
1009 E 6th St	0.56mi	4/1.5 (+1)	1,452 (+13%)	2mo	$179,000	$123	43
2337 Oak St	0.61mi	3/1.0	1,108 (-14%)	7mo	$210,000	$190	43
966 Park Ave	0.46mi	2/2.0 (-1)	1,108 (-14%)	6mo	$165,000	$149	41
937 Homewood Ave	0.63mi	2/2.0 (-1)	1,118 (-13%)	5mo	$163,000	$146	36

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-5,387
• Equity at exit: $11,183

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $4,183
• Equity at exit: $6,485

Cash invested: $21,000 (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 44460

• Home prices YoY: -32.5%
• Active inventory: 91
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $881 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$166 /mo · $1,998/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $105

Break-even live

Break-even rent $748

Max offer price $75,000

Occupancy floor 83%

Sensitivity live

Price	-10% $148	-5% $127	+0% $105	+5% $84	+10% $63
Rent	-10% $36	-5% $71	+0% $105	+5% $140	+10% $175
Rate	-1.0pp $143	-0.5pp $124	base $105	+0.5pp $86	+1.0pp $66

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
339 S Union Ave Salem, OH	2.0	1.0	982	$895	$0.91	15d	1	0.25mi
1271 Cedar Ridge Dr Apt B Salem, OH	2.0	1.5	1060	$900	$0.85	22d	1	0.78mi
335 S Broadway Ave Salem, OH	2.0	1.0	1245	$825	$0.66	15d	1	0.89mi

Listing history 23 events

1. 2026-06-21
   days on market $75,000 Active 43 DOM
2. 2026-06-21
   days on market $75,000 Active 42 DOM
3. 2026-06-18
   days on market $75,000 Active 40 DOM
4. 2026-06-17
   days on market $75,000 Active 39 DOM
5. 2026-06-16
   days on market $75,000 Active 38 DOM
6. 2026-06-15
   days on market $75,000 Active 37 DOM
7. 2026-06-13
   days on market $75,000 Active 35 DOM
8. 2026-06-12
   days on market $75,000 Active 34 DOM
9. 2026-06-09
   days on market $75,000 Active 31 DOM
10. 2026-06-08
    days on market $75,000 Active 30 DOM
11. 2026-06-08
    days on market $75,000 Active 29 DOM
12. 2026-06-05
    days on market $75,000 Active 27 DOM
13. 2026-06-04
    days on market $75,000 Active 25 DOM
14. 2026-06-02
    days on market $75,000 Active 24 DOM
15. 2026-06-01
    days on market $75,000 Active 23 DOM
16. 2026-05-31
    days on market $75,000 Active 22 DOM
17. 2026-05-07
    listed $75,000 Active 1271-char remark
18. 2019-10-29
    soldstatus $30,000 Closed 240-char remark

    Show marketing remark (240 chars)

    Great investment property in the heart of Salem! This all brick home features three bedrooms. Two fireplaces on the first floor. Kitchen features an addition that could be used as a pantry or storage area. Take time to view this home today!

19. 2019-09-18
    historical 240-char remark

    Show marketing remark (240 chars)

    Great investment property in the heart of Salem! This all brick home features three bedrooms. Two fireplaces on the first floor. Kitchen features an addition that could be used as a pantry or storage area. Take time to view this home today!

20. 2019-08-19
    historical Contingent 240-char remark

    Show marketing remark (240 chars)

    Great investment property in the heart of Salem! This all brick home features three bedrooms. Two fireplaces on the first floor. Kitchen features an addition that could be used as a pantry or storage area. Take time to view this home today!

21. 2019-03-18
    listed $42,000 Active 240-char remark

    Show marketing remark (240 chars)

    Great investment property in the heart of Salem! This all brick home features three bedrooms. Two fireplaces on the first floor. Kitchen features an addition that could be used as a pantry or storage area. Take time to view this home today!

22. 2018-11-30
    historical
23. 2018-05-30
    listed $49,500 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: $1,998 · $166/mo
• Projected year-2 tax: $1,998 · $166/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $10,578
• − Mortgage interest: −$4,201
• − Property taxes: −$1,998
• − Insurance: −$375
• − Repairs & maintenance: −$846
• − Management: −$846
• − Depreciation: −$2,182
• Taxable income: $130
• Est. tax owed @ 24.0%: −$31
• After-tax cash flow: $1,233/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: Salem City
• NCES district ID: 3910006
• Math proficiency: 53% ▼ -14.00%
• Reading proficiency: 56% ▼ -12.00%
• Median HH income: $41,145
• Composite: 45.66/100
• National rank: #2582
• State rank: #389 of 656 in OH

Livability — Salem

• Score: 68/100
• State rank: #538
• US rank: #9073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, OH
• County: Columbiana · 99,532 people
• City population: 25,289
• Population (ZIP): 25,289
• Household income: $59,882
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 9.0

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 1% · Canada
• 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: ▼ -102.42%
• Current HPI: 212.8922
• 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

+51.5% since first listed

7 events — show timeline

• 2026-05-07 Listed $75,000 MLSNOW
• 2019-10-29 Sold (MLS) $30,000 MLSNOW
• 2019-09-18 Listing Removed — MLSNOW
• 2019-08-19 Contingent — MLSNOW
• 2019-03-18 Listed $42,000 MLSNOW
• 2018-11-30 Listing Removed — MLSNOW
• 2018-05-30 Listed $49,500 MLSNOW

Property tax history

+5.3%/yr

Latest (2025): $1,998 · +28.4% YoY. Source: county tax records.