524 Keyser St · Deshler, OH 43516

$117,000

4 bd · 2.0 ba · 1,825 sqft · SingleFamily public records · 69 Days on market

Built 1982 $64/sqft · 24% below area Est $158k · 26% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.9/10.0
• Appreciation +6.8/10.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled in a quiet, established neighborhood, this Deshler gem offers the perfect blend of potential and value. The home features a comfortable layout with spacious rooms and classic small-town charm. With just a bit of TLC and your personal touch, this home has all the potential to truly shine. Whether you’re an investor looking for your next flip or rental or a homebuyer ready to build equity with sweat equity, this property is a fantastic opportunity. Deshler’s serene setting, friendly community, and affordable housing market make it a great place to call home—or an excellent addition to your portfolio. Property sold As-Is Property is occupied, please do not disturb the occupants. 24 Hours' notice required for showings Showings, offers and inquires call - [email protected]

Key facts

• Garage
• Built 1982
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 1.9% in Deshler — 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 65/100 on livability (#713 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Patrick Henry Local (rural): math 69% / reading 72% proficiency, ranked #148 of 656 in OH (top 23%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 18 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($809 loan paydown + $4k appreciation (3.5% local appreciation)).
• Henry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 26y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $109,980 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (median comp): $157,890
• List price: $117,000
• Delta: -25.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 E North St	0.33mi	4/2.0	1,936 (+6%)	9mo	$137,500	$71	67
339 N East Ave	0.22mi	4/2.0	1,608 (-12%)	10mo	$175,000	$109	62
315 W Maple St	0.38mi	3/1.5 (-1)	1,868 (+2%)	14mo	$239,900	$128	60
408 W Elm St	0.32mi	4/1.0	1,612 (-12%)	4mo	$125,000	$78	58
341 E Main St	0.53mi	4/1.5	1,797 (-2%)	22mo	$103,000	$57	53
224 S Keyser Ave	0.57mi	4/1.0	1,604 (-12%)	3mo	$37,500	$23	47
535 W Main St	0.57mi	5/1.0 (+1)	1,568 (-14%)	4mo	$55,000	$35	38
302 S Pine St	0.62mi	3/1.0 (-1)	1,584 (-13%)	9mo	$149,900	$95	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.09×
• Total profit: $35,635
• Equity at exit: $56,170

10-year hold

• IRR: 19.5%
• Equity multiple: 3.97×
• Total profit: $97,390
• Equity at exit: $89,441

Cash invested: $32,760 (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 43516

• Home prices YoY: 1.4%
• Active inventory: 48
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,390 medium
• Mortgage (P&I): −$614
• Tax from tax record: −$150 /mo · $1,802/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $285

Break-even live

Break-even rent $1,028

Max offer price $117,000

Occupancy floor 74%

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-04-12
   price $117,000 816-char remark

   Show marketing remark (816 chars)

   Nestled in a quiet, established neighborhood, this Deshler gem offers the perfect blend of potential and value. The home features a comfortable layout with spacious rooms and classic small-town charm. With just a bit of TLC and your personal touch, this home has all the potential to truly shine. Whether you’re an investor looking for your next flip or rental or a homebuyer ready to build equity with sweat equity, this property is a fantastic opportunity. Deshler’s serene setting, friendly community, and affordable housing market make it a great place to call home—or an excellent addition to your portfolio. Property sold As-Is Property is occupied, please do not disturb the occupants. 24 Hours' notice required for showings Showings, offers and inquires call - [email protected]

2. 2026-03-19
   listed $125,000 Active 816-char remark

   Show marketing remark (816 chars)

   Nestled in a quiet, established neighborhood, this Deshler gem offers the perfect blend of potential and value. The home features a comfortable layout with spacious rooms and classic small-town charm. With just a bit of TLC and your personal touch, this home has all the potential to truly shine. Whether you’re an investor looking for your next flip or rental or a homebuyer ready to build equity with sweat equity, this property is a fantastic opportunity. Deshler’s serene setting, friendly community, and affordable housing market make it a great place to call home—or an excellent addition to your portfolio. Property sold As-Is Property is occupied, please do not disturb the occupants. 24 Hours' notice required for showings Showings, offers and inquires call - [email protected]

3. 2025-10-14
   price $86,000 394-char remark

   Show marketing remark (394 chars)

   Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

4. 2025-10-09
   price $116,000
5. 2022-06-30
   status Pending
6. 2022-06-30
   historical
7. 2022-06-28
   listed $49,900 Active
8. 2015-01-30
   soldstatus $86,000 394-char remark

   Show marketing remark (394 chars)

   Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

9. 2015-01-30
   soldstatus $86,000

   Show marketing remark (394 chars)

   Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

10. 2015-01-28
    price $90,000 394-char remark

    Show marketing remark (394 chars)

    Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

11. 2014-09-16
    listed $90,000 394-char remark

    Show marketing remark (394 chars)

    Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

12. 2014-09-16
    historical

    Show marketing remark (394 chars)

    Clean, updated 4 bed 2 bath home on the North edge of Deshler waiting for its new owners. The large updated kitchen features stainless steel appliances, new cabinetry, counter tops and flooring. The heating system has new duct work and new Trane high efficiency heat pump and central air. Living room addition features a gas fireplace, sliding doors to the patio and an additional bath and bed.

13. 2014-03-16
    listed $90,000
14. 2014-01-24
    historical
15. 2014-01-24
    historical
16. 2013-04-29
    listed $99,990
17. 2013-04-29
    listed $99,990
18. 2011-01-21
    soldstatus $61,000
19. 2011-01-21
    soldstatus $61,000
20. 2010-09-27
    listed $61,000
21. 2010-09-27
    listed $55,900
22. 2009-10-07
    historical
23. 2009-05-02
    listed $119,900
24. 2004-09-08
    soldstatus $120,000
25. 2002-09-30
    historical
26. 2002-09-10
    listed $119,000
27. 2000-11-06
    soldstatus $116,000
28. 2000-09-22
    soldstatus $115,000
29. 2000-09-16
    price $118,000
30. 2000-08-09
    listed $118,000
31. 1991-09-27
    soldstatus $30,000

ⓘ 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: $1,802 · $150/mo
• Projected year-2 tax: $1,814 · $151/mo
• Expected delta: +$11/yr (+$1/mo · 0.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 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: $16,675
• − Mortgage interest: −$6,554
• − Property taxes: −$1,802
• − Insurance: −$585
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$3,404
• Taxable income: $1,662
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $3,024/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: Patrick Henry Local
• NCES district ID: 3904759
• Math proficiency: 69% ▼ -7.00%
• Reading proficiency: 72% ▼ -5.00%
• Median HH income: $50,401
• Composite: 59.81/100
• National rank: #897
• State rank: #148 of 656 in OH

Livability — Deshler

• Score: 65/100
• State rank: #713
• US rank: #12844

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deshler, OH
• County: Henry · 27,211 people
• City population: 3,014
• Population (ZIP): 3,014
• Household income: $82,500
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 5.4

Population outlook (Henry County) Hauer SSP2

• Today (2025): 27,204 people
• By 2030: 26,657 · -2.0%
• By 2040: 25,149 · -7.6%
• By 2050: 23,361 · -14.1%
• By 2075: 20,409 · -25.0%
• By 2100: 18,199 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 11% Two or more races 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: English 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7% Arabic 0%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+46.7) · D 26.2% · R 72.9%
• 2008→2024 swing: -33.8pp toward R · 2008: -12.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+43.5 2016: R+39.8 2012: R+18.6 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.54%
• Current HPI: 246.8546
• 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

+290.0% since first listed

31 events — show timeline

• 2026-04-12 Price Changed $117,000 Dayton MLS
• 2026-03-19 Listed $125,000 Dayton MLS
• 2025-10-14 Price Changed $86,000 NORIS
• 2025-10-09 Price Changed $116,000 NORIS
• 2022-06-30 Pending — NORIS
• 2022-06-30 Listing Removed — NORIS
• 2022-06-28 Listed $49,900 NORIS
• 2015-01-30 Sold (Public Records) $86,000 Public Records
• 2015-01-30 Sold (MLS) $86,000 NORIS
• 2015-01-28 Price Changed $90,000 NORIS
• 2014-09-16 Listing Removed — NORIS
• 2014-09-16 Listed $90,000 NORIS
• 2014-03-16 Listed $90,000 NORIS
• 2014-01-24 Listing Removed — NORIS
• 2014-01-24 Listing Removed — NORIS
• 2013-04-29 Listed $99,990 NORIS
• 2013-04-29 Listed $99,990 NORIS
• 2011-01-21 Sold (MLS) $61,000 NORIS
• 2011-01-21 Sold (MLS) $61,000 NORIS
• 2010-09-27 Listed $55,900 NORIS
• 2010-09-27 Listed $61,000 NORIS
• 2009-10-07 Listing Removed — NORIS
• 2009-05-02 Listed $119,900 NORIS
• 2004-09-08 Sold (Public Records) $120,000 Public Records
• 2002-09-30 Listing Removed — NORIS
• 2002-09-10 Listed $119,000 NORIS
• 2000-11-06 Sold (MLS) $116,000 NORIS
• 2000-09-22 Sold (Public Records) $115,000 Public Records
• 2000-09-16 Price Changed $118,000 NORIS
• 2000-08-09 Listed $118,000 NORIS
• 1991-09-27 Sold (Public Records) $30,000 Public Records

Property tax history

-2.7%/yr

Latest (2025): $1,802 · -3.3% YoY. Source: county tax records.