28574 Lemoyne Rd · Walbridge, OH 43447

$81,000

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 81 Days on market

Built 1960 0.70 ac lot

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 28574 Lemoyne Road in Millbury! This 2-bedroom, 1-bath home offers a great opportunity for buyers looking to add their personal touch. Situated on approximately 0.7 acres, the property features a secluded, partially wooded setting and a detached 2.5-car garage. Rrenovations needed, this home presents strong potential for investors or those seeking a project property in a peaceful location.

Key facts

• 0.7 acre lot
• 2 garage spots
• Built 1960

Property features AI

Finance

• Financial info: Annual property tax approximately $700

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces; 25 total parking spaces
• Utilities: Well water; Septic sewer
• Home design: Single-family residence; Residential zoning
• Construction: Garage(s) on property
• Exterior features: Wooded lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $81k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($911 rent vs $81k).
• Recommended offer: $76k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#451 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Lake Local (rural): math 56% / reading 65% proficiency, ranked #282 of 656 in OH (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; solid renter incomes; 493 units permitted in Wood County in 2024 (48 in 5+ unit buildings).
• This rent is only 13% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $560 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wood County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Recommended offer $76,140 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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: 1.12% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 7.4

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $468
• Equity at exit: $12,077

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $17,856
• Equity at exit: $7,003

Cash invested: $22,680 (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 43447

• Home prices YoY: -34.9%
• Active inventory: 37
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $911 medium
• Mortgage (P&I): −$425
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $214

Break-even live

Break-even rent $640

Max offer price $81,000

Occupancy floor 72%

Sensitivity live

Price	-10% $260	-5% $237	+0% $214	+5% $191	+10% $168
Rent	-10% $142	-5% $178	+0% $214	+5% $250	+10% $286
Rate	-1.0pp $255	-0.5pp $234	base $214	+0.5pp $193	+1.0pp $171

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: $20,250
• Closing costs: $2,430
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $81,000 Active 81 DOM
2. 2026-06-17
   days on market $81,000 Active 80 DOM
3. 2026-06-16
   days on market $81,000 Active 79 DOM
4. 2026-06-15
   days on market $81,000 Active 78 DOM
5. 2026-06-14
   days on market $81,000 Active 76 DOM
6. 2026-06-10
   days on market $81,000 Active 73 DOM
7. 2026-06-09
   days on market $81,000 Active 72 DOM
8. 2026-06-08
   days on market $81,000 Active 71 DOM
9. 2026-06-07
   days on market $81,000 Active 70 DOM
10. 2026-06-05
    days on market $81,000 Active 67 DOM
11. 2026-06-03
    days on market $81,000 Active 66 DOM
12. 2026-06-02
    days on market $81,000 Active 65 DOM
13. 2026-06-01
    days on market $81,000 Active 64 DOM
14. 2026-05-31
    days on market $81,000 Active 63 DOM
15. 2026-05-30
    days on market $81,000 Active 62 DOM
16. 2026-03-29
    listed $81,000 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: $566 · $47/mo
• Projected year-2 tax: $915 · $76/mo
• Expected delta: +$349/yr (+$29/mo · 61.7%)

ⓘ 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 ≥99°F today · 15 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: $10,928
• − Mortgage interest: −$4,537
• − Property taxes: −$566
• − Insurance: −$405
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$2,356
• Taxable income: $1,315
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $2,249/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: Lake Local
• NCES district ID: 3905069
• Math proficiency: 56% ▼ -6.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $51,218
• Composite: 51.58/100
• National rank: #1710
• State rank: #282 of 656 in OH

Livability — Walbridge

• Score: 70/100
• State rank: #451
• US rank: #7355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wood · 127,168 people
• Metro: Toledo, OH
• Population (ZIP): 3,165
• Household income: $81,786
• Rent vs Own: 16.5% rent · 83.5% own

Population outlook (Wood County) Hauer SSP2

• Today (2025): 138,744 people
• By 2030: 143,189 · +3.2%
• By 2040: 150,896 · +8.8%
• By 2050: 158,589 · +14.3%
• By 2075: 182,166 · +31.3%
• By 2100: 196,533 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · China, India
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Wood

• 2024 margin: R (+10.2) · D 44.4% · R 54.6%
• 2008→2024 swing: -17.3pp toward R · 2008: 7.1pp · 2024: -10.2pp
• All cycles: 2024: R+10.2 2020: R+7.6 2016: R+8.5 2012: D+4.2 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.98%
• Current HPI: 186.4039
• 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

• 2026-03-29 Listed $81,000 WCARE

Property tax history

-0.0%/yr

Latest (2025): $566 · -1.9% YoY. Source: county tax records.