218 Granville St · Newark, OH 43055

$75,000

2 bd · 1.0 ba · 1,592 sqft · SingleFamily · 34 Days on market

Built 1870 Poor condition 1,742 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2 bedroom, 1 bath fixer-upper home in need of a complete renovation. Located on Granville Street, this home offers incredible potential for those seeking a blank canvas to make their own, or investors to breathe new life into. This home has been a used bookstore for the last 20+ years. Great fix and flip opportunity or renovate and keep as a rental in your portfolio. This home needs an entire renovation and is sold As-Is, no repairs will be made by the seller. Also, the book inventory from the store of approximately 60k books is included in the sale.

Key facts

• 1,742 sq ft lot
• Built 1870
• Listed 34 days

Property features AI

Finance

• HOA & community: Sidewalk (association amenity)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1870; No shared/common walls
• Construction: Stone foundation; Originally built in 1870
• Exterior features: Stone foundation; Sidewalk

Interior

• Flooring: Wood flooring; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Decorative fireplace; Partial crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $40k; list at $75k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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: 1.71% ✓
• Cap rate: 14.21%
• Cash-on-cash: 28.28%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $211,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
185 N 10th St	0.07mi	3/1.5 (+1)	1,682 (+6%)	2mo	$245,000	$146	79
333 N 10th St	0.28mi	3/2.5 (+1)	1,560 (-2%)	4mo	$279,900	$179	69
140 W Locust St	0.35mi	3/2.0 (+1)	1,588 (-0%)	7mo	$165,000	$104	68
393 Eddy St	0.41mi	3/1.5 (+1)	1,680 (+6%)	1mo	$260,000	$155	64
72 N 7th St	0.36mi	3/1.5 (+1)	1,736 (+9%)	4mo	$110,000	$63	57
63 Chestnut St	0.37mi	3/1.5 (+1)	1,746 (+10%)	7mo	$185,500	$106	54
467 Mount Vernon Rd	0.60mi	3/1.5 (+1)	1,512 (-5%)	8mo	$210,000	$139	50
440 Eddy St	0.50mi	3/2.0 (+1)	1,445 (-9%)	4mo	$255,000	$176	49
128 Wilson St	0.61mi	2/1.0	1,354 (-15%)	1mo	$149,500	$110	46
195 Jefferson Rd	0.67mi	3/1.0 (+1)	1,400 (-12%)	0mo	$150,000	$107	43
233 Wilson St	0.65mi	3/2.0 (+1)	1,464 (-8%)	6mo	$195,000	$133	42
245 Jefferson St	0.65mi	3/1.5 (+1)	1,390 (-13%)	5mo	$172,000	$124	37

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 1.84×
• Total profit: $17,641
• Equity at exit: $11,183

10-year hold

• IRR: 28.2%
• Equity multiple: 3.34×
• Total profit: $49,063
• Equity at exit: $6,485

Cash invested: $21,000 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $495

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 56%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 N 9th St Unit 73 Newark, OH	2.0	1.0	1250	$950	$0.76	23d	1	0.30mi
8 N 8th St Unit 2 Newark, OH	3.0	1.0	1400	$1,400	$1.00	23d	1	0.44mi
71 W Locust St Newark, OH	2.0	1.0	1371	$1,225	$0.89	23d	1	0.48mi
63 N 4th St Unit 302 Newark, OH	3.0	1.0	1300	$1,350	$1.04	4d	1	0.53mi
63 N 4th St Newark, OH	3.0	1.0	1300	$1,350	$1.04	3d	1	0.53mi
33 Jefferson St Newark, OH	2.0	1.0	1200	$1,300	$1.08	12d	1	0.58mi
150 N 1st St Newark, OH	3.0	1.0	1467	$1,300	$0.89	17d	1	0.78mi
39 Charles St Newark, OH	3.0	1.5	1450	$1,649	$1.14	23d	1	0.79mi
374 Seroco Ave Newark, OH	2.0	1.0	1100	$1,100	$1.00	10d	1	0.92mi
86 Wilwood Ave Newark, OH	3.0	1.0	1205	$1,595	$1.32	1d	1	0.98mi
5 Cottage St Newark, OH	3.0	2.0	1719	$1,649	$0.96	23d	1	1.01mi
27 N Buena Vista St Newark, OH	3.0	2.0	1500	$1,300	$0.87	11d	1	1.12mi
681 Maple Ave Newark, OH	3.0	1.0	1100	$1,599	$1.45	1d	1	1.16mi

Listing history 25 events

1. 2026-06-18
   days on market $75,000 Active 34 DOM
2. 2026-06-17
   days on market $75,000 Active 33 DOM
3. 2026-06-16
   days on market $75,000 Active 32 DOM
4. 2026-06-15
   days on market $75,000 Active 31 DOM
5. 2026-06-13
   days on market $75,000 Active 29 DOM
6. 2026-06-13
   days on market $75,000 Active 28 DOM
7. 2026-06-09
   days on market $75,000 Active 25 DOM
8. 2026-06-08
   days on market $75,000 Active 24 DOM
9. 2026-06-07
   days on market $75,000 Active 23 DOM
10. 2026-06-05
    days on market $75,000 Active 20 DOM
11. 2026-06-03
    days on market $75,000 Active 19 DOM
12. 2026-06-02
    days on market $75,000 Active 18 DOM
13. 2026-06-01
    days on market $75,000 Active 17 DOM
14. 2026-05-31
    days on market $75,000 Active 16 DOM
15. 2026-05-15
    listed $75,000 Active
16. 2026-01-05
    price $75,000
17. 2025-12-21
    status Active
18. 2025-12-05
    status Pending
19. 2025-12-05
    historical
20. 2025-10-06
    price $109,900
21. 2025-05-05
    price $99,900
22. 2025-04-08
    listed $120,000 Active
23. 2023-03-29
    soldstatus $40,000 Closed 581-char remark

    Show marketing remark (581 chars)

    Welcome to this charming 2 bedroom, 1 bath fixer-upper home in need of a complete renovation. Located on Granville Street, this home offers incredible potential for those seeking a blank canvas to make their own, or investors to breathe new life into. This home has been a used bookstore for the last 20+ years. Great fix and flip opportunity or renovate and keep as a rental in your portfolio. This home needs an entire renovation and is sold As-Is, no repairs will be made by the seller. Also, the book inventory from the store of approximately 60k books is included in the sale.

24. 2023-02-20
    status Pending 581-char remark

    Show marketing remark (581 chars)

    Welcome to this charming 2 bedroom, 1 bath fixer-upper home in need of a complete renovation. Located on Granville Street, this home offers incredible potential for those seeking a blank canvas to make their own, or investors to breathe new life into. This home has been a used bookstore for the last 20+ years. Great fix and flip opportunity or renovate and keep as a rental in your portfolio. This home needs an entire renovation and is sold As-Is, no repairs will be made by the seller. Also, the book inventory from the store of approximately 60k books is included in the sale.

25. 2023-02-17
    listed $45,000 Active 581-char remark

    Show marketing remark (581 chars)

    Welcome to this charming 2 bedroom, 1 bath fixer-upper home in need of a complete renovation. Located on Granville Street, this home offers incredible potential for those seeking a blank canvas to make their own, or investors to breathe new life into. This home has been a used bookstore for the last 20+ years. Great fix and flip opportunity or renovate and keep as a rental in your portfolio. This home needs an entire renovation and is sold As-Is, no repairs will be made by the seller. Also, the book inventory from the store of approximately 60k books is included in the sale.

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

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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,390
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$2,182
• Taxable income: $5,045
• Est. tax owed @ 24.0%: −$1,211
• After-tax cash flow: $4,728/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 · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation and repair, including exterior siding, interior drywall, flooring, bathrooms, and HVAC. It presents significant potential for a complete rehab, making it a great fix-and-flip or rental opportunity.

Repairs flagged

• Major Exterior siding — Severe weathering and missing shingles
• Major Interior drywall — Exposed beams and insulation
• Major Flooring — Worn carpet and exposed subfloor
• Major Bathroom fixtures — Exposed plumbing and missing fixtures
• Major Roof — Exposed rafters and missing shingles
• Major HVAC components — Exposed and missing insulation

Value-add opportunities

• Both Exterior siding and roof repair — Improves curb appeal and structural integrity
• Both Interior drywall and flooring replacement — Enhances living space and value
• Both Bathroom fixtures and plumbing repair — Restores functionality and aesthetics
• Both HVAC system replacement — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe weathering and missing shingles	Major	$15,000–50,000
Interior drywall · Exposed beams and insulation	Major	$15,000–50,000
Flooring · Worn carpet and exposed subfloor	Major	$15,000–50,000
Bathroom fixtures · Exposed plumbing and missing fixtures	Major	$15,000–50,000
Roof · Exposed rafters and missing shingles	Major	$15,000–50,000
HVAC components · Exposed and missing insulation	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Exterior siding and roof repair — Improves curb appeal and structural integrity ↑
• Both Interior drywall and flooring replacement — Enhances living space and value ↑
• Both Bathroom fixtures and plumbing repair — Restores functionality and aesthetics ↑
• Both HVAC system replacement — Improves comfort and energy efficiency ↑

ⓘ 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: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, OH
• 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

+66.7% since first listed

11 events — show timeline

• 2026-05-15 Listed $75,000 CBRMLS
• 2026-01-05 Price Changed $75,000 CBRMLS
• 2025-12-21 Relisted — CBRMLS
• 2025-12-05 Pending — CBRMLS
• 2025-12-05 Listing Removed — CBRMLS
• 2025-10-06 Price Changed $109,900 CBRMLS
• 2025-05-05 Price Changed $99,900 CBRMLS
• 2025-04-08 Listed $120,000 CBRMLS
• 2023-03-29 Sold (MLS) $40,000 CBRMLS
• 2023-02-20 Pending — CBRMLS
• 2023-02-17 Listed $45,000 CBRMLS