119 N Detroit St · West Liberty, OH 43357

$349,900

4 bd · 3.5 ba · 6,000 sqft · MultiFamily · 21 Days on market

Built 1880 Good condition 3,750 sqft lot

---

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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Excellently maintained Commercial building in the very heart of West Liberty. Include 3 apartments. (2-1BR and 1-2BR); Tenants pay their own utilities with the exception of water. Landlord pays water. There is also a pre-existing shop that is rented on the main floor. This business is NOT for sale; only the real estate. Please allow 48 notice for showings as a professional courtesy to the tenants.

Key facts

• Pre-existing shop
• 3 apartments
• Commercial building

Tags

• COMMERCIAL BUILDING
• 3 APARTMENTS
• PRE-EXISTING SHOP

Property features AI

Finance

• Financial info: Property offered for sale; Tenants responsible for electricity and heat

Exterior

• Parking: No garage; Private parking; On-street parking
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Two-story multifamily building; Single building with multiple units
• Construction: Brick and steel construction
• Exterior features: Lot approximately 25 x 150 (0.09 acres); Multiple zoning

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three one-bedroom units (multifamily)
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Window unit(s); Forced air heating; Baseboard heating; Electric heating; Natural gas heating
• Interior features: Galley kitchen; Kitchen and family room combined; Recently remodeled; Double-hung windows; Full unfinished basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $350k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#341 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• West Liberty-Salem Local (rural): math 69% / reading 73% proficiency, ranked #136 of 656 in OH (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: West Liberty-Salem Elementary School (math 75% / reading 73%, grade A, #301 of 1,584 statewide, top 20%, 535 students, 60% FRL); West Liberty-Salem Middle School (288 students, 0% FRL); West Liberty-Salem High School (math 65% / reading 74%, grade B, #106 of 781 statewide, top 16%, 365 students, 0% FRL).
• Market conditions: 10 active listings in the ZIP; solid renter incomes; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• At $4,510/mo this rent would consume 63% of the median local household income ($86k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Logan County population projected at -15% 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 $98k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,651 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $16,283
• Equity at exit: $52,171

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $108,344
• Equity at exit: $30,253

Cash invested: $97,972 (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 43357

• Home prices YoY: -14.7%
• Active inventory: 10
• Price-to-rent: 26.9×

Monthly cashflow live

• Estimated rent: $4,510 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$947
• Net cashflow: $1,145

Break-even live

Break-even rent $3,061

Max offer price $349,900

Occupancy floor 70%

Sensitivity live

Price	-10% $1,387	-5% $1,266	+0% $1,145	+5% $1,024	+10% $903
Rent	-10% $789	-5% $967	+0% $1,145	+5% $1,323	+10% $1,501
Rate	-1.0pp $1,321	-0.5pp $1,234	base $1,145	+0.5pp $1,054	+1.0pp $962

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,172
1× unit	2	1	$1,123
1× unit	0	0	$1,215
Total (4 units)			$4,510

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-12
   statusdays on market $349,900 Pending 21 DOM
2. 2026-06-09
   days on market $349,900 Active 20 DOM
3. 2026-06-08
   days on market $349,900 Active 19 DOM
4. 2026-06-08
   days on market $349,900 Active 18 DOM
5. 2026-06-07
   days on market $349,900 Active 17 DOM
6. 2026-06-04
   days on market $349,900 Active 14 DOM
7. 2026-06-02
   days on market $349,900 Active 13 DOM
8. 2026-06-01
   days on market $349,900 Active 12 DOM
9. 2026-05-31
   days on market $349,900 Active 11 DOM
10. 2026-05-20
    listed $349,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $54,120
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,330
• − Management: −$4,330
• − Depreciation: −$10,179
• Taxable income: $8,684
• Est. tax owed @ 24.0%: −$2,084
• After-tax cash flow: $11,654/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with a well-maintained exterior and interior. Painting the exterior and updating the flooring would significantly increase its value for both resale and rental.

Value-add opportunities

• Both Paint exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value.
• Both Update flooring — Updating the flooring can improve the overall aesthetic and functionality of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value. ↑
• Both Update flooring — Updating the flooring can improve the overall aesthetic and functionality of the home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Liberty-Salem Local
• NCES district ID: 3904621
• Math proficiency: 69% ▼ -10.00%
• Reading proficiency: 73% ▼ -4.00%
• Median HH income: $58,466
• Composite: 61.0/100
• National rank: #800
• State rank: #136 of 656 in OH

Livability — West Liberty

• Score: 73/100
• State rank: #341
• US rank: #5572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Liberty, OH
• County: Logan · 47,256 people
• City population: 4,711
• Population (ZIP): 4,711
• Household income: $86,392
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 10.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Italian 4% Iranian 4% Slovak 4%
• Foreign-born: 0%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.06%
• Current HPI: 261.6173
• 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

• 2026-05-20 Listed $349,900 Dayton MLS