1146 Adelaide Ave SE · Warren, OH 44484

$78,000

2 bd · 1.0 ba · 795 sqft · SingleFamily public records · 165 Days on market

Built 1940 7,501 sqft lot $98/sqft · at area comps Est $91k · 14% 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 +29.6/30.0
• ARV discount +13.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

First Floor living with potential for an investment or family home.

Key facts

• Family home
• First floor living
• Investment

Tags

• FIRST FLOOR LIVING
• INVESTMENT
• FAMILY HOME

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 6.0% in Warren — 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 73/100 on livability (#312 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D-, commute F, employment F.
• Warren City (urban): math 22% / reading 32% proficiency, ranked #599 of 656 in OH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 129 units permitted in Trumbull County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Trumbull County population projected at -22% 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y 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 $49k; list at $78k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.26% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.6

CMA / ARV

• ARV (median comp): $90,515
• List price: $78,000
• Delta: -13.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1543 Woodbine Ave SE	0.27mi	2/1.0	824 (+4%)	4mo	$36,500	$44	78
1072 Willard Ave SE	0.35mi	2/2.0	733 (-8%)	7mo	$79,900	$109	61
1146 Hazelwood Ave SE	0.13mi	3/1.0 (+1)	720 (-9%)	16mo	$50,000	$69	59
1197 Belvedere Ave SE	0.10mi	3/1.0 (+1)	880 (+11%)	19mo	$17,503	$20	56
834 Willard Ave SE	0.34mi	2/1.0	870 (+9%)	17mo	$96,799	$111	54
1104 Kenmore Ave SE	0.31mi	3/2.0 (+1)	888 (+12%)	8mo	$129,000	$145	51
902 Francis Ave SE	0.23mi	2/1.5	888 (+12%)	22mo	$103,000	$116	49
526 Laird Ave SE	0.46mi	2/1.0	704 (-11%)	14mo	$54,900	$78	48
749 Trumbull Ave SE	0.67mi	2/1.0	896 (+13%)	20mo	$110,000	$123	31

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: 6.3%
• Equity multiple: 1.24×
• Total profit: $5,343
• Equity at exit: $11,630

10-year hold

• IRR: 15.6%
• Equity multiple: 2.27×
• Total profit: $27,775
• Equity at exit: $6,744

Cash invested: $21,840 (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 44484

• Home prices YoY: -17.5%
• Active inventory: 87
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$54 /mo · $645/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $283

Break-even live

Break-even rent $627

Max offer price $78,000

Occupancy floor 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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
840 Woodbine Ave SE Unit 838 Warren, OH	2.0	1.0	1009	$1,000	$0.99	13d	1	0.12mi
2232 Youngstown Rd SE Warren, OH	2.0	1.0	800	$1,050	$1.31	13d	1	0.22mi
2661 South St SE Unit J Warren, OH	2.0	1.0	670	$800	$1.19	13d	1	0.63mi
259 Perkinswood Blvd NE Warren, OH	1.0–2.0	1.0	743	$845	$1.14	13d	3	0.88mi

Listing history 24 events

1. 2026-06-19
   days on market $78,000 Active 165 DOM
2. 2026-06-18
   days on market $78,000 Active 164 DOM
3. 2026-06-17
   days on market $78,000 Active 163 DOM
4. 2026-06-16
   days on market $78,000 Active 162 DOM
5. 2026-06-15
   days on market $78,000 Active 161 DOM
6. 2026-06-14
   days on market $78,000 Active 159 DOM
7. 2026-06-13
   days on market $78,000 Active 158 DOM
8. 2026-06-10
   days on market $78,000 Active 156 DOM
9. 2026-06-09
   days on market $78,000 Active 155 DOM
10. 2026-06-08
    days on market $78,000 Active 154 DOM
11. 2026-06-07
    days on market $78,000 Active 153 DOM
12. 2026-06-05
    days on market $78,000 Active 150 DOM
13. 2026-06-02
    days on market $78,000 Active 148 DOM
14. 2026-06-01
    days on market $78,000 Active 147 DOM
15. 2026-05-31
    days on market $78,000 Active 146 DOM
16. 2026-05-30
    days on market $78,000 Active 145 DOM
17. 2026-01-05
    listed $78,000 Active 68-char remark

    Show marketing remark (68 chars)

    First Floor living with potential for an investment or family home.

18. 2018-11-26
    soldstatus $49,000
19. 2018-11-13
    soldstatus $23,000 Sold 226-char remark

    Show marketing remark (226 chars)

    Welcome Home!! This charming Ranch home is completely move in ready the only thing missing is you, Updated Electric, Vinyl siding, Laminate wood floors through out. Schedule you're showing today before it's going, going, GONE!

20. 2018-11-01
    status Pending 226-char remark

    Show marketing remark (226 chars)

    Welcome Home!! This charming Ranch home is completely move in ready the only thing missing is you, Updated Electric, Vinyl siding, Laminate wood floors through out. Schedule you're showing today before it's going, going, GONE!

21. 2018-10-17
    historical Contingent 226-char remark

    Show marketing remark (226 chars)

    Welcome Home!! This charming Ranch home is completely move in ready the only thing missing is you, Updated Electric, Vinyl siding, Laminate wood floors through out. Schedule you're showing today before it's going, going, GONE!

22. 2018-10-17
    listed $27,000 Active 226-char remark

    Show marketing remark (226 chars)

    Welcome Home!! This charming Ranch home is completely move in ready the only thing missing is you, Updated Electric, Vinyl siding, Laminate wood floors through out. Schedule you're showing today before it's going, going, GONE!

23. 1997-06-10
    soldstatus $33,300
24. 1997-01-15
    listed $39,900

ⓘ 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: $645 · $54/mo
• Projected year-2 tax: $931 · $78/mo
• Expected delta: +$286/yr (+$24/mo · 44.3%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,815
• − Mortgage interest: −$4,369
• − Property taxes: −$645
• − Insurance: −$390
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$2,269
• Taxable income: $2,251
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $2,850/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: Warren City
• NCES district ID: 3904499
• Math proficiency: 22% ▼ -16.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $28,222
• Composite: 21.6/100
• National rank: #8299
• State rank: #599 of 656 in OH

Livability — Warren

• Score: 73/100
• State rank: #312
• US rank: #5068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, OH
• County: Trumbull · 193,293 people
• City population: 25,805
• Metro: Youngstown-Warren, OH
• Population (ZIP): 21,634
• Household income: $65,435
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 6.7

Population outlook (Trumbull County) Hauer SSP2

• Today (2025): 191,696 people
• By 2030: 184,015 · -4.0%
• By 2040: 166,810 · -13.0%
• By 2050: 149,857 · -21.8%
• By 2075: 115,769 · -39.6%
• By 2100: 83,617 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 8% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Other Indo-European 2% Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Trumbull

• 2024 margin: R (+16.8) · D 41.2% · R 58.0%
• 2008→2024 swing: -39.2pp toward R · 2008: 22.4pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+10.6 2016: R+6.4 2012: D+22.2 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.24%
• Current HPI: 217.6603
• 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

+95.5% since first listed

8 events — show timeline

• 2026-01-05 Listed $78,000 MLSNOW
• 2018-11-26 Sold (Public Records) $49,000 Public Records
• 2018-11-13 Sold (MLS) $23,000 MLSNOW
• 2018-11-01 Pending — MLSNOW
• 2018-10-17 Contingent — MLSNOW
• 2018-10-17 Listed $27,000 MLSNOW
• 1997-06-10 Sold (Public Records) $33,300 Public Records
• 1997-01-15 Listed $39,900 MLSNOW

Property tax history

-0.8%/yr

Latest (2025): $645 · +1.9% YoY. Source: county tax records.