874 Brice St · Newark, OH 43055

$100,000

3 bd · 1.0 ba · 1,728 sqft · SingleFamily public records · 33 Days on market

Built 1924 Fair condition 10,018 sqft lot Est $162k · 38% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

LIVE, ONSITE, NON-DISCLOSED RESERVE AUCTION, Saturday, April 25, 2026 at 10:00 AM. This property is being offered at auction. The list price is the starting bid, this is the starting bid. Located in East Newark, this 2-story home features a covered front porch leading into the living room. The main floor includes a dining room and kitchen. Range, microwave, and refrigerator will convey. The second floor offers 3 bedrooms and 1 full bath. Full basement with walk-up access from both the kitchen and exterior side entrance. Stackable washer and dryer will remain. Situated on a 0.23-acre lot with a backyard. Convenient access to State Route 16 with an easy commute to Downtown Newark, Heath, Colu

Key facts

• Covered front porch
• Backyard
• Easy commute

Tags

• COVERED FRONT PORCH
• FULL BASEMENT
• BACKYARD
• EASY COMMUTE

Property features AI

Finance

• Other: Auction listing condition

Exterior

• Parking: Detached 2-car garage; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family home; Two-story
• Construction: Built in 1924; Block foundation
• Exterior features: Deck

Interior

• Flooring: Wood flooring; Carpet; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Insulated and storm windows; Full basement with walk-up access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1924 — 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: 1.55% ✓
• Cap rate: 12.73%
• Cash-on-cash: 22.98%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $162,432
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 N Hazelwood Ave	0.39mi	3/1.5	1,614 (-7%)	4mo	$225,000	$139	65
64 Fairmont Ave	0.58mi	4/1.5 (+1)	1,786 (+3%)	5mo	$168,000	$94	56
212 Obannon Ave	0.16mi	3/2.0	1,493 (-14%)	14mo	$225,000	$151	54
665 E Main St	0.49mi	4/2.0 (+1)	1,902 (+10%)	4mo	$159,900	$84	48
914 E Main Pkwy	0.21mi	3/2.0	1,952 (+13%)	20mo	$185,000	$95	48
836 E Main St	0.22mi	3/2.5	1,476 (-15%)	15mo	$120,000	$81	47
468 Garfield Ave	0.72mi	2/2.0 (-1)	1,580 (-9%)	1mo	$225,000	$142	43
228 Wing St	0.65mi	3/2.0	1,606 (-7%)	23mo	$210,000	$131	35
112 Oakwood Ave	0.73mi	4/2.0 (+1)	1,490 (-14%)	0mo	$140,000	$94	34
69 Wing St	0.71mi	4/2.0 (+1)	1,652 (-4%)	23mo	$155,000	$94	32
79 Wing St	0.70mi	4/1.5 (+1)	1,572 (-9%)	18mo	$140,000	$89	30

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: 14.4%
• Equity multiple: 1.57×
• Total profit: $15,870
• Equity at exit: $14,910

10-year hold

• IRR: 22.1%
• Equity multiple: 2.77×
• Total profit: $49,490
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$118 /mo · $1,420/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $536

Break-even live

Break-even rent $866

Max offer price $100,000

Occupancy floor 60%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Monroe Ave Newark, OH	4.0	1.5	1512	$1,889	$1.25	43d	1	0.51mi
388 Indiana St Newark, OH	2.0	1.0	1200	$1,100	$0.92	1d	1	0.91mi
27 N Buena Vista St Newark, OH	3.0	2.0	1500	$1,300	$0.87	11d	1	1.41mi

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-16
   price $100,000
3. 2026-03-25
   listed $1 Active

ⓘ 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: $1,420 · $118/mo
• Projected year-2 tax: $1,490 · $124/mo
• Expected delta: +$70/yr (+$6/mo · 4.9%)

ⓘ 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 ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $18,542
• − Mortgage interest: −$5,602
• − Property taxes: −$1,420
• − Insurance: −$500
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$2,909
• Taxable income: $5,145
• Est. tax owed @ 24.0%: −$1,235
• After-tax cash flow: $5,201/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 · 13 photos

Fair 45/100 Moderate rehab

This 2-story home requires moderate renovations to improve its curb appeal and functionality. Upgrading the kitchen, bathroom, and exterior can significantly increase its value.

Repairs flagged

• Minor Swing — The swing is in good condition and does not require repair.
• Minor Front porch swing — The swing is in good condition and does not require repair.
• Moderate Landscaping — The front yard is overgrown and needs trimming and planting.
• Moderate Exterior siding — The siding appears aged and may need repainting or replacement.
• Moderate Kitchen cabinets — The cabinets are in good condition but may need updating or refinishing.
• Moderate Bathroom fixtures — The bathroom appears dated and may need updating or replacement.
• Moderate Flooring — The carpeted floors may need cleaning or replacement.
• Moderate Paint — The walls may need repainting to refresh the appearance.
• Minor Ceiling fans — The fans are in good condition and do not require repair.
• Minor Mounted TV — The TV is mounted and does not require repair.
• Minor Ceiling light — The ceiling light is in good condition and does not require repair.

Value-add opportunities

• Both Landscaping and front porch swing — Refreshing the front yard and porch swing can improve curb appeal and attract potential buyers.
• Both Kitchen cabinets and flooring — Updating the kitchen cabinets and flooring can improve the overall look and functionality of the home.
• Both Paint and exterior siding — Repainting the exterior and updating the siding can improve the home's curb appeal and increase its value.
• Both Bathroom fixtures — Updating the bathroom fixtures can improve the home's functionality and increase its value.
• Both Ceiling fans and mounted TV — Updating the ceiling fans and mounted TV can improve the home's functionality and increase its value.
• Both Swing and front porch swing — Refreshing the front yard and porch swing can improve curb appeal and attract potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Swing · The swing is in good condition and does not require repair.	Minor	$500–3,000
Front porch swing · The swing is in good condition and does not require repair.	Minor	$500–3,000
Landscaping · The front yard is overgrown and needs trimming and planting.	Moderate	$3,000–15,000
Exterior siding · The siding appears aged and may need repainting or replacement.	Moderate	$3,000–15,000
Kitchen cabinets · The cabinets are in good condition but may need updating or refinishing.	Moderate	$3,000–15,000
Bathroom fixtures · The bathroom appears dated and may need updating or replacement.	Moderate	$3,000–15,000
Flooring · The carpeted floors may need cleaning or replacement.	Moderate	$3,000–15,000
Paint · The walls may need repainting to refresh the appearance.	Moderate	$3,000–15,000
Ceiling fans · The fans are in good condition and do not require repair.	Minor	$500–3,000
Mounted TV · The TV is mounted and does not require repair.	Minor	$500–3,000
Ceiling light · The ceiling light is in good condition and does not require repair.	Minor	$500–3,000
Total estimated repair cost · 11 items		$20,500–105,000

Value-add ROI direction

• Both Landscaping and front porch swing — Refreshing the front yard and porch swing can improve curb appeal and attract potential buyers. ↑
• Both Kitchen cabinets and flooring — Updating the kitchen cabinets and flooring can improve the overall look and functionality of the home. ↑
• Both Paint and exterior siding — Repainting the exterior and updating the siding can improve the home's curb appeal and increase its value. ↑
• Both Bathroom fixtures — Updating the bathroom fixtures can improve the home's functionality and increase its value. ↑
• Both Ceiling fans and mounted TV — Updating the ceiling fans and mounted TV can improve the home's functionality and increase its value. ↑
• Both Swing and front porch swing — Refreshing the front yard and porch swing can improve curb appeal and attract potential buyers. ↑

ⓘ 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

3 events — show timeline

• 2026-04-28 Pending — CBRMLS
• 2026-04-16 Price Changed $100,000 CBRMLS
• 2026-03-25 Listed $1 CBRMLS

Property tax history

+9.8%/yr

Latest (2025): $1,420 · +2.6% YoY. Source: county tax records.