402 Franklin Ave · Sidney, OH 45365

$139,900

3 bd · 1.5 ba · 1,264 sqft · SingleFamily public records · 26 Days on market

Built 1915 5,227 sqft lot Est $163k · 14% under

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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 +15.4/30.0
• ARV discount +13.9/15.0
• DSCR +4.7/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1.5-bath home offers a great opportunity to make it your own. With many major updates already completed, it's a blank slate ready for its next owner. Recent improvements include - roof (2016), windows (2016), HVAC system (2019), and new siding with added insulation (2022). The I & I was completed and approved by the city in 2018. Outside, you'll find a fenced-in yard, offering space for pets, play, or outdoor entertaining. The seller is offering the home as-is.

Key facts

• Roof
• New siding
• Major updates

Tags

• FENCED-IN YARD
• MAJOR UPDATES
• NEW SIDING
• ADDED INSULATION
• HVAC SYSTEM
• ROOF

Property features AI

Exterior

• Utilities: Public sewer; Supplied water
• Home design: Single family residence; Residential property; Built in 1915; Corner lot (corner of Water St. and Franklin Ave.)
• Construction: Vinyl siding construction; Built in 1915
• Exterior features: Vinyl siding; Supplied water; Residential lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom 1 (13 x 13); Bedroom 2 (13 x 9); Bedroom 3 (12 x 9)
• Bathrooms: 2 bathrooms total — 1 full, 1 half
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: 9 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $53 ($639/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (16.4% below list).
• Recommended offer: $117k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.0% in Sidney — 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 76/100 on livability (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Emerson Primary School (328 students, 58% FRL); Sidney Middle School (math 46% / reading 53%, grade C, #421 of 654 statewide, top 65%, 840 students, 60% FRL); Sidney High School (math 31% / reading 56%, grade F, #493 of 781 statewide, top 63%, 826 students, 55% FRL).
• Market conditions: 145 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shelby County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $140k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,971 (16.4% below list)

Questions for the listing agent

1. Built in 1915 — 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. 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.
4. 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.
5. 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: 0.84% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.63%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $163,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 E Poplar St	0.49mi	3/1.0	1,283 (+2%)	5mo	$130,000	$101	68
1116 Taft St	0.70mi	3/1.5	1,259 (-0%)	2mo	$218,000	$173	65
230 N Pomeroy Ave	0.47mi	3/1.0	1,188 (-6%)	2mo	$148,000	$125	64
613 S Highland Ave	0.34mi	3/2.0	1,360 (+8%)	9mo	$174,900	$129	62
830 Chestnut Ave	0.40mi	2/1.0 (-1)	1,204 (-5%)	8mo	$195,400	$162	59
614 Michigan St	0.55mi	4/2.0 (+1)	1,305 (+3%)	4mo	$185,000	$142	59
518 W North St	0.42mi	2/1.5 (-1)	1,349 (+7%)	10mo	$98,000	$73	56
624 St Marys Ave	0.68mi	3/1.5	1,326 (+5%)	7mo	$180,000	$136	54
206 Charles Ave	0.66mi	3/2.0	1,382 (+9%)	4mo	$224,000	$162	48
305 Monroe St	0.57mi	3/1.0	1,130 (-11%)	9mo	$69,600	$62	46
912 Evergreen Dr	0.75mi	2/1.0 (-1)	1,348 (+7%)	8mo	$138,000	$102	40
209 Pike St	0.70mi	2/1.0 (-1)	1,120 (-11%)	5mo	$105,000	$94	38

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-19,320
• Equity at exit: $20,860

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-12,624
• Equity at exit: $12,096

Cash invested: $39,172 (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 45365

• Home prices YoY: -20.1%
• Active inventory: 145
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,170 high
• Mortgage (P&I): −$734
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $53

Break-even live

Break-even rent $1,102

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $132	-5% $93	+0% $53	+5% $14	+10% $-26
Rent	-10% $-39	-5% $7	+0% $53	+5% $99	+10% $146
Rate	-1.0pp $124	-0.5pp $89	base $53	+0.5pp $17	+1.0pp $-20

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
314 Thompson St Sidney, OH	3.0	1.0	1352	$1,200	$0.89	4d	1	0.34mi
803 S Main Ave Sidney, OH	2.0	1.0	1104	$1,030	$0.93	4d	1	0.37mi
803 S Main Ave Sidney, OH	2.0	1.0	1104	$1,100	$1.00	45d	1	0.37mi
805 S Main Ave Sidney, OH	3.0	1.0	1423	$1,400	$0.98	23d	1	0.37mi
751 Campbell Rd Sidney, OH	2.0	1.0	980	$1,100	$1.12	4d	1	0.50mi
776 Country Side Ln Sidney, OH	3.0	1.0	1001	$994	$0.99	4d	1	1.23mi
1402 N Main Ave Sidney, OH	3.0	1.0	1544	$1,300	$0.84	14d	1	1.29mi

Listing history 28 events

1. 2026-06-21
   days on market $139,900 Active 26 DOM
2. 2026-06-18
   days on market $139,900 Active 23 DOM
3. 2026-06-17
   days on market $139,900 Active 22 DOM
4. 2026-06-16
   pricedays on market $139,900 Active 21 DOM
5. 2026-06-15
   days on market $149,900 Active 20 DOM
6. 2026-06-14
   days on market $149,900 Active 18 DOM
7. 2026-06-13
   days on market $149,900 Active 17 DOM
8. 2026-06-10
   days on market $149,900 Active 15 DOM
9. 2026-06-09
   days on market $149,900 Active 14 DOM
10. 2026-06-08
    days on market $149,900 Active 13 DOM
11. 2026-06-07
    days on market $149,900 Active 12 DOM
12. 2026-06-03
    days on market $149,900 Active 8 DOM
13. 2026-06-02
    days on market $149,900 Active 7 DOM
14. 2026-06-01
    days on market $149,900 Active 6 DOM
15. 2026-05-31
    days on market $149,900 Active 5 DOM
16. 2026-05-31
    days on market $149,900 Active 4 DOM
17. 2026-05-25
    listed $149,900 Active
18. 2017-10-31
    soldstatus $59,000
19. 2017-07-20
    historical
20. 2016-10-20
    listed $64,500
21. 2009-11-30
    historical
22. 2009-08-29
    listed $82,900
23. 2009-08-23
    historical
24. 2009-02-23
    listed $82,900
25. 2008-12-01
    historical
26. 2008-05-01
    listed $82,900
27. 1998-08-12
    soldstatus $50,000
28. 1992-04-20
    soldstatus $42,500

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $1,565 · $130/mo
• Expected delta: +$618/yr (+$51/mo · 65.3%)

ⓘ 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 ≥100°F today · 18 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: $14,037
• − Mortgage interest: −$7,837
• − Property taxes: −$947
• − Insurance: −$700
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$4,070
• Taxable loss: −$1,762
• Est. tax savings @ 24.0%: +$423
• After-tax cash flow: $1,062/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: Sidney City
• NCES district ID: 3910003
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $45,974
• Composite: 41.55/100
• National rank: #3443
• State rank: #454 of 656 in OH

Livability — Sidney

• Score: 76/100
• State rank: #220
• US rank: #3412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, OH
• County: Shelby · 44,840 people
• City population: 28,955
• Population (ZIP): 28,955
• Household income: $66,044
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 5.7

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 47,264 people
• By 2030: 45,935 · -2.8%
• By 2040: 42,786 · -9.5%
• By 2050: 38,981 · -17.5%
• By 2075: 30,225 · -36.1%
• By 2100: 21,273 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+64.8) · D 17.2% · R 82.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -36.4pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.2 2016: R+60.6 2012: R+46.0 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.62%
• Current HPI: 264.4532
• 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

+252.7% since first listed

12 events — show timeline

• 2026-05-25 Listed $149,900 WRIST
• 2017-10-31 Sold (Public Records) $59,000 Public Records
• 2017-07-20 Listing Removed — WRIST
• 2016-10-20 Listed $64,500 WRIST
• 2009-11-30 Listing Removed — WRIST
• 2009-08-29 Listed $82,900 WRIST
• 2009-08-23 Listing Removed — WRIST
• 2009-02-23 Listed $82,900 WRIST
• 2008-12-01 Listing Removed — WRIST
• 2008-05-01 Listed $82,900 WRIST
• 1998-08-12 Sold (Public Records) $50,000 Public Records
• 1992-04-20 Sold (Public Records) $42,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $947 · -1.4% YoY. Source: county tax records.