116 Grover St · Mansfield, OH 44903

$134,500

6 bd · 4.0 ba · — sqft · MultiFamily · 22 Days on market

Built 1920 Fair condition

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Excellent rental history - Separate gas & electric - 3 car garage - Newer siding & windows - Well maintained property - Ideal to purchase together with adjoining property at 172 Lexington Ave

Key facts

• Garage
• Built 1920
• Listed 22 days

Property features AI

Exterior

• Parking: Garage door opener
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family; 2 stories
• Construction: Vinyl siding; Wood siding
• Exterior features: Concrete parking; Public water; Public sewer

Interior

• Kitchen: Range
• Bedrooms: One 2-bedroom unit; One 1-bedroom unit
• Flooring: Carpet
• Bathrooms: One 1-bath unit; One 1-bath unit
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $134k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive. Per door: $318/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $132k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.2% in Mansfield — 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 (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 145 units permitted in Richland 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 $930 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Richland County population projected at -18% 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 $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $70k; list at $134k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $132,482 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 11.96%
• Cash-on-cash: 20.25%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
188 S Franklin Ave	0.46mi	6/2.0	—	3mo	$80,000	—	56
51 Glessner Ave	0.34mi	6/2.0	—	13mo	$115,000	—	53
117 Blymyer Ave	0.52mi	6/2.0	—	20mo	$75,000	—	38
125 Blymyer Ave	0.49mi	5/1.5 (-1)	—	19mo	$32,000	—	34
459 Glessner Ave	0.70mi	5/2.5 (-1)	—	12mo	$180,250	—	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: 12.5%
• Equity multiple: 1.50×
• Total profit: $18,710
• Equity at exit: $20,054

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $68,531
• Equity at exit: $11,629

Cash invested: $37,660 (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 44903

• Home prices YoY: -27.7%
• Active inventory: 122
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$705
• Tax est. 1.5%: −$168 /mo · $2,018/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $635

Break-even live

Break-even rent $1,177

Max offer price $134,500

Occupancy floor 63%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,980
Total (2 units)			$1,981

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: $33,625
• Closing costs: $4,035
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Florence Ave #41 Mansfield, OH	5.0	1.0	1236	$800	$0.65	43d	1	0.18mi

Listing history 20 events

1. 2026-06-18
   days on market $134,500 Active 22 DOM
2. 2026-06-17
   days on market $134,500 Active 21 DOM
3. 2026-06-16
   days on market $134,500 Active 20 DOM
4. 2026-06-15
   days on market $134,500 Active 19 DOM
5. 2026-06-14
   days on market $134,500 Active 17 DOM
6. 2026-06-12
   days on market $134,500 Active 16 DOM
7. 2026-06-09
   days on market $134,500 Active 13 DOM
8. 2026-06-08
   days on market $134,500 Active 12 DOM
9. 2026-06-07
   days on market $134,500 Active 11 DOM
10. 2026-06-05
    days on market $134,500 Active 8 DOM
11. 2026-06-03
    days on market $134,500 Active 7 DOM
12. 2026-06-02
    days on market $134,500 Active 6 DOM
13. 2026-06-01
    days on market $134,500 Active 5 DOM
14. 2026-05-31
    days on market $134,500 Active 4 DOM
15. 2026-05-30
    days on market $134,500 Active 3 DOM
16. 2026-05-27
    listed $134,500 Active
17. 2025-09-30
    price $137,500
18. 2025-07-10
    listed $149,900 Active
19. 2020-11-19
    soldstatus $70,000 203-char remark

    Show marketing remark (203 chars)

    Excellent rental history - Separate gas & electric - 3 car garage - Newer siding & windows - Well maintained property - Ideal to purchase together with adjoining property at 172 Lexington Ave

20. 2020-09-24
    listed $74,900 203-char remark

    Show marketing remark (203 chars)

    Excellent rental history - Separate gas & electric - 3 car garage - Newer siding & windows - Well maintained property - Ideal to purchase together with adjoining property at 172 Lexington Ave

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,772
• − Mortgage interest: −$7,534
• − Property taxes: −$2,018
• − Insurance: −$672
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − Depreciation: −$3,913
• Taxable income: $5,832
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $6,226/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 · 3 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its curb appeal and interior condition, enhancing its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls — Peeling paint
• Major flooring — Worn carpet

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace carpet — New carpet improves comfort and reduces maintenance
• Both repair exterior siding — Fresh siding improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace carpet — New carpet improves comfort and reduces maintenance ↑
• Both repair exterior siding — Fresh siding improves curb appeal and structural integrity ↑

ⓘ 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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 26,804
• Household income: $65,421
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 9.5

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 (80%)
• Race & ethnicity: White 80% Two or more races 9% Black 9% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -92.50%
• Current HPI: 241.9342
• 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

+79.6% since first listed

5 events — show timeline

• 2026-05-27 Listed $134,500 MARMLS
• 2025-09-30 Price Changed $137,500 MARMLS
• 2025-07-10 Listed $149,900 MARMLS
• 2020-11-19 Sold (MLS) $70,000 MARMLS
• 2020-09-24 Listed $74,900 MARMLS