375 Ridge Rd · Springfield, OH 45503

$90,000

3 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 20 Days on market

Built 1923 6,969 sqft lot

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Why this score? — see what drove the C+ 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 +26.7/30.0
• DSCR +9.2/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

ONSITE PUBLIC AUCTION - Monday, June 29 at 11am. Real estate sells at 12noon. This 3 bedroom 1 bath has been in the Spencer family for many years and has always had the best of care. Super clean and nice 2 story home with living room open to dining room, hardwood floors throughout, full basement, updated gas furnace, updated Rheem hot water heater, covered front porch, 12' x 30' detached garage, and private backyard. Appraised at only $90,000. Terms - 10% of the purchase price required at close of auction, balance upon delivery of deed within 40 days. Taxes prorated to day of closing. Possession at closing. Real estate has been appraised at $90,000 and sells to the highest bidder subject to

Key facts

• Updated gas furnace
• Covered front porch
• Private backyard

Tags

• HARDWOOD FLOORS
• FULL BASEMENT
• UPDATED GAS FURNACE
• UPDATED RHEEM HOT WATER HEATER
• COVERED FRONT PORCH
• PRIVATE BACKYARD

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public sewer; Supplied water
• Home design: Single family residence; Residential property; Built in 1923
• Construction: Wood siding; Block foundation
• Exterior features: Porch; Residential lot

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Inoperable fireplace; Hardwood floors; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.8% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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. Crime grade is F 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?
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: 1.30% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $183,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
372 Ridge Rd	0.03mi	2/1.0 (-1)	1,248 (-1%)	3mo	$65,000	$52	89
1221 Terrace Dr	0.11mi	3/1.0	1,206 (-5%)	6mo	$150,000	$124	83
329 Roosevelt Dr	0.20mi	2/1.0 (-1)	1,243 (-2%)	2mo	$180,000	$145	81
617 E Mccreight Ave	0.25mi	2/1.0 (-1)	1,241 (-2%)	0mo	$165,000	$133	80
728 E Northern Ave	0.36mi	3/2.0	1,305 (+3%)	1mo	$234,000	$179	73
836 E Northern Ave	0.44mi	3/1.0	1,255 (-1%)	8mo	$132,000	$105	72
736 E Northern Ave	0.37mi	3/2.0	1,306 (+3%)	3mo	$230,000	$176	71
1009 Elm St	0.29mi	3/1.5	1,353 (+7%)	4mo	$75,000	$55	70
1330 Garfield Ave	0.29mi	3/2.0	1,381 (+9%)	2mo	$227,500	$165	65
301 Chestnut Ave	0.69mi	3/1.0	1,329 (+5%)	4mo	$147,500	$111	56
214 Sunnyside Pl	0.57mi	4/1.5 (+1)	1,116 (-12%)	6mo	$215,500	$193	42
260 Glendale Dr	0.67mi	3/2.5	1,373 (+9%)	8mo	$270,000	$197	42

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,007
• Equity at exit: $13,419

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $21,107
• Equity at exit: $7,782

Cash invested: $25,200 (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 45503

• Active inventory: 142
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,174 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$174 /mo · $2,092/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $244

Break-even live

Break-even rent $866

Max offer price $90,000

Occupancy floor 74%

Sensitivity live

Price	-10% $295	-5% $269	+0% $244	+5% $218	+10% $193
Rent	-10% $151	-5% $198	+0% $244	+5% $290	+10% $337
Rate	-1.0pp $289	-0.5pp $267	base $244	+0.5pp $221	+1.0pp $197

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	2d	1	0.31mi
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	1.20mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	3d	1	1.39mi

Listing history 15 events

1. 2026-06-19
   days on market $90,000 Active 20 DOM
2. 2026-06-18
   days on market $90,000 Active 19 DOM
3. 2026-06-17
   days on market $90,000 Active 18 DOM
4. 2026-06-16
   days on market $90,000 Active 17 DOM
5. 2026-06-15
   days on market $90,000 Active 16 DOM
6. 2026-06-14
   days on market $90,000 Active 14 DOM
7. 2026-06-12
   days on market $90,000 Active 13 DOM
8. 2026-06-09
   days on market $90,000 Active 10 DOM
9. 2026-06-08
   days on market $90,000 Active 9 DOM
10. 2026-06-07
    days on market $90,000 Active 8 DOM
11. 2026-06-05
    days on market $90,000 Active 5 DOM
12. 2026-06-02
    days on market $90,000 Active 3 DOM
13. 2026-06-01
    days on market $90,000 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $90,000 Active 1 DOM

ⓘ 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: $2,092 · $174/mo
• Projected year-2 tax: $2,092 · $174/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,092
• − Mortgage interest: −$5,041
• − Property taxes: −$2,092
• − Insurance: −$450
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,618
• Taxable income: $1,636
• Est. tax owed @ 24.0%: −$393
• After-tax cash flow: $2,534/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• 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

1 event — show timeline

• 2026-05-30 Listed $90,000 WRIST

Property tax history

+8.7%/yr

Latest (2025): $2,092 · +16.3% YoY. Source: county tax records.