447 St. Rt. 603 · Shiloh, OH 44878

$180,000

1 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 6 Days on market

Built 1954 0.57 ac lot

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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 +26.5/30.0
• DSCR +9.1/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Just starting out or downsizing? This may be the perfect place for you! This property features 2 bedrooms, 1 full bath and has been nicely updated. Newer paint, flooring, kitchen, roof and patio are just a few of its highlights. Outside is a 36x42 shed that is perfect for storage and plenty of space to garden on just over a half of an acre lot. Call today to schedule a showing! Contingent on seller closing on home of choice which is already in contract.

Key facts

• 36x42 outbuilding
• Radiant floor heat
• Outdoor wood burner

Tags

• RADIANT FLOOR HEAT
• OUTDOOR WOOD BURNER
• 36X42 OUTBUILDING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.5% vs local median 4.7% in Shiloh — 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 66/100 on livability (#639 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Plymouth-Shiloh Local (rural): math 52% / reading 55% proficiency, ranked #391 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.7% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $142k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,000

Questions for the listing agent

1. Built in 1954 — 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. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 2.79×
• Total profit: $90,115
• Equity at exit: $121,421

10-year hold

• IRR: 24.2%
• Equity multiple: 5.75×
• Total profit: $239,412
• Equity at exit: $227,705

Cash invested: $50,400 (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 44878

• Home prices YoY: 3.2%
• Active inventory: 9
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $478

Break-even live

Break-even rent $1,390

Max offer price $180,000

Occupancy floor 71%

Sensitivity live

Price	-10% $580	-5% $529	+0% $478	+5% $427	+10% $376
Rent	-10% $320	-5% $399	+0% $478	+5% $557	+10% $635
Rate	-1.0pp $568	-0.5pp $524	base $478	+0.5pp $431	+1.0pp $384

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 Lattimer Rd W Shiloh, OH	2.0	1.0	1321	$1,995	$1.51	44d	1	1.47mi

Listing history 8 events

1. 2026-04-04
   status Pending
2. 2026-03-28
   listed $180,000 Active
3. 2024-11-07
   soldstatus $142,000
4. 2024-11-05
   soldstatus $142,000 Closed 457-char remark

   Show marketing remark (457 chars)

   Just starting out or downsizing? This may be the perfect place for you! This property features 2 bedrooms, 1 full bath and has been nicely updated. Newer paint, flooring, kitchen, roof and patio are just a few of its highlights. Outside is a 36x42 shed that is perfect for storage and plenty of space to garden on just over a half of an acre lot. Call today to schedule a showing! Contingent on seller closing on home of choice which is already in contract.

5. 2024-09-18
   listed $164,900 Active 457-char remark

   Show marketing remark (457 chars)

   Just starting out or downsizing? This may be the perfect place for you! This property features 2 bedrooms, 1 full bath and has been nicely updated. Newer paint, flooring, kitchen, roof and patio are just a few of its highlights. Outside is a 36x42 shed that is perfect for storage and plenty of space to garden on just over a half of an acre lot. Call today to schedule a showing! Contingent on seller closing on home of choice which is already in contract.

6. 2018-08-14
   soldstatus $70,000
7. 2013-04-12
   soldstatus $42,500
8. 2011-06-06
   soldstatus $23,500

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,880 · $157/mo
• Expected delta: +$928/yr (+$77/mo · 97.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $23,940
• − Mortgage interest: −$10,083
• − Property taxes: −$951
• − Insurance: −$900
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$5,236
• Taxable income: $2,939
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $5,029/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: Plymouth-Shiloh Local
• NCES district ID: 3904946
• Math proficiency: 52% ▼ -16.00%
• Reading proficiency: 55% ▼ -11.00%
• Median HH income: $48,546
• Composite: 45.54/100
• National rank: #2603
• State rank: #391 of 656 in OH

Livability — Shiloh

• Score: 66/100
• State rank: #639
• US rank: #11281

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

• County: Richland · 128,966 people
• Metro: Mansfield, OH
• Population (ZIP): 2,943
• Household income: $79,620
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 3.8

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 1% Romanian 1%
• Languages at home: 77% English-only · German/W. Germanic 23%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.72%
• Current HPI: 217.7934
• 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

+666.0% since first listed

8 events — show timeline

• 2026-04-04 Pending — ABOR
• 2026-03-28 Listed $180,000 ABOR
• 2024-11-07 Sold (Public Records) $142,000 Public Records
• 2024-11-05 Sold (MLS) $142,000 ABOR
• 2024-09-18 Listed $164,900 ABOR
• 2018-08-14 Sold (Public Records) $70,000 Public Records
• 2013-04-12 Sold (Public Records) $42,500 Public Records
• 2011-06-06 Sold (Public Records) $23,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $951 · -2.6% YoY. Source: county tax records.