137 Prospect St · Oak Harbor, OH 43449

$83,334

4 bd · 1.5 ba · 1,878 sqft · SingleFamily public records · 39 Days on market

Built 1920 0.26 ac lot ↓ 44% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

Key facts

• Formal dining
• Open staircase
• Large corner lot

Tags

• LARGE CORNER LOT
• FORMAL DINING
• LIVING ROOM FEATURES FIREPLACE
• SUNROOM WITH FRENCH DOORS
• OPEN STAIRCASE
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 2.3% in Oak Harbor — 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 (#211 in OH, #3,308 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Benton Carroll Salem Local (town): math 79% / reading 76% proficiency, ranked #74 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Oak Harbor High School (math 75% / reading 80%, grade A-, #52 of 781 statewide, top 7%, 673 students, 25% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 128 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $576 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ottawa County population projected at -19% 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 $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,833 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 1.67% ✓
• Cap rate: 13.85%
• Cash-on-cash: 27.00%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $242,262
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 E Water St	0.13mi	4/1.5	1,730 (-8%)	16mo	$151,000	$87	67
119 W Park St	0.44mi	4/2.0	1,820 (-3%)	12mo	$245,000	$135	62
209 N Benton St	0.63mi	4/1.5	1,936 (+3%)	11mo	$250,000	$129	56
224 N Locust St	0.35mi	4/3.0	1,940 (+3%)	22mo	$210,500	$109	54
172 Red Hawk Run	0.62mi	4/2.5	2,016 (+7%)	7mo	$385,000	$191	50
341 E Ottawa St	0.37mi	4/2.0	1,656 (-12%)	18mo	$255,000	$154	46
220 W Ottawa St	0.41mi	4/1.5	1,598 (-15%)	15mo	$38,000	$24	44
408 W Oak St	0.58mi	3/2.0 (-1)	1,738 (-8%)	23mo	$169,900	$98	34

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: 20.9%
• Equity multiple: 1.86×
• Total profit: $19,950
• Equity at exit: $12,425

10-year hold

• IRR: 29.1%
• Equity multiple: 3.59×
• Total profit: $60,508
• Equity at exit: $7,205

Cash invested: $23,334 (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 43449

• Home prices YoY: -29.3%
• Active inventory: 43
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,393 medium
• Mortgage (P&I): −$437
• Tax est. 1.5%: −$104 /mo · $1,250/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $525

Break-even live

Break-even rent $729

Max offer price $83,334

Occupancy floor 57%

Sensitivity live

Price	-10% $583	-5% $554	+0% $525	+5% $496	+10% $467
Rent	-10% $415	-5% $470	+0% $525	+5% $580	+10% $635
Rate	-1.0pp $567	-0.5pp $546	base $525	+0.5pp $503	+1.0pp $481

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: $20,834
• Closing costs: $2,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-03-28
   status Pending
2. 2026-02-17
   listed $83,334 Active
3. 2025-10-14
   price $144,000 389-char remark

   Show marketing remark (389 chars)

   LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

4. 2024-10-03
   price $165,000
5. 2021-12-07
   soldstatus $144,000
6. 2021-12-06
   soldstatus $144,000 Closed 389-char remark

   Show marketing remark (389 chars)

   LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

7. 2021-12-06
   soldstatus $144,000

   Show marketing remark (389 chars)

   LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

8. 2021-10-02
   historical Contingent 389-char remark

   Show marketing remark (389 chars)

   LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

9. 2021-09-18
   status Active 389-char remark

   Show marketing remark (389 chars)

   LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

10. 2021-08-28
    historical Contingent 389-char remark

    Show marketing remark (389 chars)

    LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

11. 2021-08-19
    listed $149,900 Active 389-char remark

    Show marketing remark (389 chars)

    LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

12. 2021-08-19
    listed $149,900

    Show marketing remark (389 chars)

    LOTS OF ROOM! 4 Bedrooms, 1.5 bath, 1800+sqft situated an large corner lot. Kitchen with stainless steel stove, microwave and dishwasher. Formal dining. Living room features fireplace. Sunroom with French doors. Beautiful open staircase. Full basement. Shed. Hardwood flooring under carpeting. Built in hallway storage. Attic. New water heater 2021, furnace and A/C 2020. Fenced side yard.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $16,722
• − Mortgage interest: −$4,668
• − Property taxes: −$1,250
• − Insurance: −$417
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$2,424
• Taxable income: $5,287
• Est. tax owed @ 24.0%: −$1,269
• After-tax cash flow: $5,030/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: Benton Carroll Salem Local
• NCES district ID: 3904892
• Math proficiency: 79% ▼ -6.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $55,133
• Composite: 66.1/100
• National rank: #438
• State rank: #74 of 656 in OH

Livability — Oak Harbor

• Score: 76/100
• State rank: #211
• US rank: #3308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Harbor, OH
• County: Ottawa · 37,113 people
• Metro: Sandusky, OH
• Population (ZIP): 8,053
• Household income: $71,496
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 11.2

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 39,548 people
• By 2030: 38,297 · -3.2%
• By 2040: 35,070 · -11.3%
• By 2050: 31,956 · -19.2%
• By 2075: 27,454 · -30.6%
• By 2100: 23,596 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+25.1) · D 37.0% · R 62.1%
• 2008→2024 swing: -31.3pp toward R · 2008: 6.3pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+23.4 2016: R+19.6 2012: D+4.1 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.76%
• Current HPI: 192.8443
• 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

-44.4% since first listed

12 events — show timeline

• 2026-03-28 Pending — NORIS
• 2026-02-17 Listed $83,334 NORIS
• 2025-10-14 Price Changed $144,000 NORIS
• 2024-10-03 Price Changed $165,000 FAOR
• 2021-12-07 Sold (Public Records) $144,000 Public Records
• 2021-12-06 Sold (MLS) $144,000 FAOR
• 2021-12-06 Sold (MLS) $144,000 NORIS
• 2021-10-02 Contingent — NORIS
• 2021-09-18 Relisted — NORIS
• 2021-08-28 Contingent — NORIS
• 2021-08-19 Listed $149,900 FAOR
• 2021-08-19 Listed $149,900 NORIS

Property tax history

+12.0%/yr

Latest (2025): $5,130 · +121.2% YoY. Source: county tax records.