301 Locust St · Mount Vernon, OH 43050

$174,900

3 bd · 1.5 ba · 1,845 sqft · SingleFamily public records · 56 Days on market

Built 1900 0.28 ac lot Est $234k · 25% 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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.1/10.0
• Schools +4.9/10.0
• 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

Opportunity awaits with this 4-bedroom, 1.5-bath home offering great space in a convenient location. This home features a very large family room with a patio door leading to the deck -- ideal for relaxing or entertaining -- along with a good size fenced rear yard. Sizable bedrooms provide comfortable living, and plenty of windows fill the home with natural light. The kitchen is equipped with a stainless-steel refrigerator, gas range, dishwasher, and microwave. A nice 2-car garage adds everyday convenience and storage. The property is being sold ''as is'' with nice potential.

Key facts

• Large family room
• Dishwasher
• Microwave

Tags

• LARGE FAMILY ROOM
• FENCED REAR YARD
• STAINLESS-STEEL REFRIGERATOR
• GAS RANGE
• DISHWASHER
• MICROWAVE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Built in 1900; No common walls
• Construction: Block and stone foundation
• Exterior features: Patio; Deck; Fenced yard

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement with walk-up access, cellar area, and partial finish; Living area approximately 1,845

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.0% in Mount Vernon — 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 (#227 in OH, #3,542 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Mount Vernon City (town): math 55% / reading 62% proficiency, ranked #321 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mount Vernon Middle School (math 53% / reading 55%, grade B-, #352 of 654 statewide, top 55%, 836 students, 42% FRL); Mount Vernon High School (math 37% / reading 70%, grade C-, #334 of 781 statewide, top 43%, 1,036 students, 40% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 163 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Knox County population projected at -14% 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 $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1900 — 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: 1.11% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $234,315
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 Cooper St	0.06mi	3/2.0	1,578 (-14%)	2mo	$155,000	$98	69
406 N Sandusky St	0.26mi	4/1.0 (+1)	1,778 (-4%)	12mo	$199,000	$112	65
907 W High St	0.67mi	3/1.5	1,788 (-3%)	1mo	$189,000	$106	63
306 E Burgess St	0.70mi	3/2.5	1,843 (-0%)	6mo	$281,900	$153	59
119 E Sugar St	0.60mi	3/1.5	1,744 (-6%)	9mo	$230,000	$132	55
403 N Gay St Unit 1/2	0.40mi	3/1.5	1,656 (-10%)	13mo	$261,000	$158	53
205 E Chestnut St	0.71mi	2/1.5 (-1)	1,740 (-6%)	1mo	$215,000	$124	52
116 Wooster Rd	0.38mi	3/2.0	2,084 (+13%)	12mo	$150,000	$72	49
801 W Sugar St	0.59mi	4/2.0 (+1)	1,632 (-12%)	5mo	$195,000	$119	42
300 W Walnut St	0.56mi	3/1.5	1,596 (-14%)	11mo	$202,000	$127	42
124 E Sugar St	0.64mi	3/2.0	1,656 (-10%)	13mo	$245,000	$148	40
218 E Sugar St	0.72mi	3/2.5	1,686 (-9%)	12mo	$223,000	$132	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: 0.1%
• Equity multiple: 1.00×
• Total profit: $116
• Equity at exit: $26,078

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $36,628
• Equity at exit: $15,122

Cash invested: $48,972 (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 43050

• Active inventory: 163
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $447

Break-even live

Break-even rent $1,384

Max offer price $174,900

Occupancy floor 72%

Sensitivity live

Price	-10% $546	-5% $497	+0% $447	+5% $398	+10% $348
Rent	-10% $293	-5% $370	+0% $447	+5% $524	+10% $602
Rate	-1.0pp $536	-0.5pp $492	base $447	+0.5pp $402	+1.0pp $356

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Taylor Rd Mount Vernon, OH	4.0	1.5	2180	$1,950	$0.89	45d	1	0.68mi
407 E Burgess St Mount Vernon, OH	4.0	2.0	1668	$1,950	$1.17	3d	1	0.74mi

Listing history 23 events

1. 2026-06-14
   statusdays on marketlisting id $174,900 Pending 56 DOM
2. 2026-06-13
   days on market $174,900 Contingent 109 DOM
3. 2026-06-12
   days on market $174,900 Contingent 108 DOM
4. 2026-06-09
   days on market $174,900 Contingent 105 DOM
5. 2026-06-08
   days on market $174,900 Contingent 104 DOM
6. 2026-06-08
   days on market $174,900 Contingent 103 DOM
7. 2026-06-07
   days on market $174,900 Contingent 102 DOM
8. 2026-06-04
   days on market $174,900 Contingent 99 DOM
9. 2026-06-02
   days on market $174,900 Contingent 98 DOM
10. 2026-06-01
    days on market $174,900 Contingent 97 DOM
11. 2026-05-31
    days on market $174,900 Contingent 96 DOM
12. 2026-04-21
    status Pending 581-char remark

    Show marketing remark (581 chars)

    Opportunity awaits with this 4-bedroom, 1.5-bath home offering great space in a convenient location. This home features a very large family room with a patio door leading to the deck -- ideal for relaxing or entertaining -- along with a good size fenced rear yard. Sizable bedrooms provide comfortable living, and plenty of windows fill the home with natural light. The kitchen is equipped with a stainless-steel refrigerator, gas range, dishwasher, and microwave. A nice 2-car garage adds everyday convenience and storage. The property is being sold ''as is'' with nice potential.

13. 2026-04-21
    historical Contingent

    Show marketing remark (581 chars)

    Opportunity awaits with this 4-bedroom, 1.5-bath home offering great space in a convenient location. This home features a very large family room with a patio door leading to the deck -- ideal for relaxing or entertaining -- along with a good size fenced rear yard. Sizable bedrooms provide comfortable living, and plenty of windows fill the home with natural light. The kitchen is equipped with a stainless-steel refrigerator, gas range, dishwasher, and microwave. A nice 2-car garage adds everyday convenience and storage. The property is being sold ''as is'' with nice potential.

14. 2026-02-24
    listed $174,900 Active 581-char remark

    Show marketing remark (581 chars)

    Opportunity awaits with this 4-bedroom, 1.5-bath home offering great space in a convenient location. This home features a very large family room with a patio door leading to the deck -- ideal for relaxing or entertaining -- along with a good size fenced rear yard. Sizable bedrooms provide comfortable living, and plenty of windows fill the home with natural light. The kitchen is equipped with a stainless-steel refrigerator, gas range, dishwasher, and microwave. A nice 2-car garage adds everyday convenience and storage. The property is being sold ''as is'' with nice potential.

15. 2026-02-24
    listed $174,900 Active

    Show marketing remark (581 chars)

    Opportunity awaits with this 4-bedroom, 1.5-bath home offering great space in a convenient location. This home features a very large family room with a patio door leading to the deck -- ideal for relaxing or entertaining -- along with a good size fenced rear yard. Sizable bedrooms provide comfortable living, and plenty of windows fill the home with natural light. The kitchen is equipped with a stainless-steel refrigerator, gas range, dishwasher, and microwave. A nice 2-car garage adds everyday convenience and storage. The property is being sold ''as is'' with nice potential.

16. 2021-03-16
    soldstatus $160,000
17. 2021-03-15
    soldstatus $160,000 522-char remark

    Show marketing remark (522 chars)

    Wow! The family home you've been watching for is here! Completely remodeled & featuring 4 bedrooms, HUGE family room and 2 car garage! Updated throughout: oak kitchen loaded with cabinets and decked out with gorgeous stainless appliances; new carpet, flooring and paint in every room. New concrete front entry. In rear, find a large shaded fenced yard with deck, new multi-level patio, kennel area, and horseshoe area. Turn-key and ready for new owners! Seller is a licensed real estate agent in State of Ohio.

18. 2021-02-12
    listed $150,000 522-char remark

    Show marketing remark (522 chars)

    Wow! The family home you've been watching for is here! Completely remodeled & featuring 4 bedrooms, HUGE family room and 2 car garage! Updated throughout: oak kitchen loaded with cabinets and decked out with gorgeous stainless appliances; new carpet, flooring and paint in every room. New concrete front entry. In rear, find a large shaded fenced yard with deck, new multi-level patio, kennel area, and horseshoe area. Turn-key and ready for new owners! Seller is a licensed real estate agent in State of Ohio.

19. 2020-05-01
    historical
20. 2019-12-13
    listed $119,000
21. 2000-12-18
    soldstatus $68,085
22. 1994-09-12
    soldstatus $40,000
23. 1987-07-29
    soldstatus $23,000

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,982 · $165/mo
• Expected delta: +$746/yr (+$62/mo · 60.4%)

ⓘ 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 ≥97°F today · 17 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,400
• − Mortgage interest: −$9,797
• − Property taxes: −$1,236
• − Insurance: −$874
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$5,088
• Taxable income: $2,661
• Est. tax owed @ 24.0%: −$639
• After-tax cash flow: $4,731/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: Mount Vernon City
• NCES district ID: 3910012
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $44,253
• Composite: 49.26/100
• National rank: #2029
• State rank: #321 of 656 in OH

Livability — Mount Vernon

• Score: 76/100
• State rank: #227
• US rank: #3542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, OH
• County: Knox · 63,297 people
• City population: 30,360
• Population (ZIP): 30,360
• Household income: $65,044
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 12.7

Population outlook (Knox County) Hauer SSP2

• Today (2025): 60,036 people
• By 2030: 58,670 · -2.3%
• By 2040: 54,963 · -8.4%
• By 2050: 51,353 · -14.5%
• By 2075: 43,196 · -28.0%
• By 2100: 34,514 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+44.9) · D 27.1% · R 72.0%
• 2008→2024 swing: -25.0pp toward R · 2008: -19.9pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.8 2016: R+38.2 2012: R+24.3 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.50%
• Current HPI: 304.4254
• 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

+660.4% since first listed

12 events — show timeline

• 2026-04-21 Pending — MLSNOW
• 2026-04-21 Contingent — CBRMLS
• 2026-02-24 Listed $174,900 CBRMLS
• 2026-02-24 Listed $174,900 MLSNOW
• 2021-03-16 Sold (Public Records) $160,000 Public Records
• 2021-03-15 Sold (MLS) $160,000 CBRMLS
• 2021-02-12 Listed $150,000 CBRMLS
• 2020-05-01 Listing Removed — CBRMLS
• 2019-12-13 Listed $119,000 CBRMLS
• 2000-12-18 Sold (Public Records) $68,085 Public Records
• 1994-09-12 Sold (Public Records) $40,000 Public Records
• 1987-07-29 Sold (Public Records) $23,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,236 · -2.2% YoY. Source: county tax records.