551 E Main St · Circleville, OH 43113

$35,000

1 bd · 1.0 ba · 886 sqft · SingleFamily public records · 192 Days on market

Built 1900 0.26 ac lot ↓ 50% since listing

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Why this score? — see what drove the D- 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 +12.7/30.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Online AUCTION, the RESERVE (Minimum Bid) is $35,000. Bidding takes place on the auction website. Go to auction website to submit bids. The auction begins to ends at 7:00 PM, Thursday, April 30th, 2026. BUYERS MUST SIGN ACKNOWLEDGEMENT OF TERMS to bid. Agents, please see 'A2A' for auction terms and conditions. Welcome to 551 E Main Street in Circleville. This early 1900s, 1.5-story home sits on a large 1/4 acre lot near the heart of town, close to shops, dining, and community amenities. With 1 bedroom, 1 full bath, and approximately 886 sq ft of main living space, plus an approximate 350 sq ft of lower level, this home delivers flexibility & functionality. There is a large fenced yard

Key facts

• Large fenced yard
• Handicap ramp
• Walk-up attic

Tags

• LARGE FENCED YARD
• HANDICAP RAMP
• WALK-UP ATTIC
• 10X10 SHED
• MIXED-USE ZONING

Property features AI

Finance

• Other: Property may have commercial, multi-family, or other potential uses
• HOA & community: Sidewalks in the community

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One-and-a-half stories; Built in 1900; No shared/common walls
• Construction: Block foundation
• Exterior features: Fenced yard; Shed on property

Interior

• Bedrooms: 1 main-level bedroom
• Flooring: Wood flooring; Laminate flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air; Window AC units
• Interior features: Partial basement; Insulated windows

🔨 Auction listing. The $35,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $147,962 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $-17 ($-208/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 2.9% in Circleville — 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 71/100 on livability (#437 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Circleville City (town): math 37% / reading 47% proficiency, ranked #533 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 121 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $85k (71%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $147,962
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
551 E Main St	0.00mi	1/1.0	886 (0%)	1mo	$77,825	$88	99
134 Fairview Blvd	0.41mi	2/1.0 (+1)	864 (-2%)	2mo	$140,000	$162	70
419 Faye Ave	0.29mi	2/1.0 (+1)	900 (+2%)	19mo	$179,900	$200	63
549 E Union St	0.23mi	2/1.0 (+1)	802 (-10%)	8mo	$165,000	$206	62
194 Nicholas Dr	0.43mi	2/1.0 (+1)	900 (+2%)	15mo	$150,000	$167	59
518 E Union St	0.27mi	2/1.0 (+1)	972 (+10%)	9mo	$105,000	$108	59
349 Barnes Ave	0.64mi	2/1.0 (+1)	920 (+4%)	1mo	$203,600	$221	58
382 E Franklin St	0.31mi	2/1.0 (+1)	785 (-11%)	6mo	$135,000	$172	56
539 E Mound St	0.19mi	2/1.0 (+1)	950 (+7%)	22mo	$122,000	$128	56
457 Half Ave	0.42mi	2/1.0 (+1)	1,008 (+14%)	1mo	$134,000	$133	52
614 Renick Ave	0.37mi	2/1.0 (+1)	768 (-13%)	7mo	$170,000	$221	50
327 Watt St	0.43mi	2/1.0 (+1)	960 (+8%)	21mo	$95,000	$99	43

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-25,123
• Equity at exit: $22,062

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-23,474
• Equity at exit: $12,793

Cash invested: $41,429 (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 43113

• Active inventory: 121
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-17

Break-even live

Break-even rent $1,169

Max offer price $144,903

Occupancy floor 97%

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: $36,990
• Closing costs: $4,439
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 S Court St Circleville, OH	2.0	1.0	1000	$1,225	$1.23	23d	1	0.80mi
522 Nicholas Sq Circleville, OH	1.0	1.0	680	$1,049	$1.54	1d	1	0.87mi

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-03-25
   price $35,000
3. 2025-11-18
   price $109,000
4. 2025-10-21
   listed $119,900 Active
5. 2019-02-28
   soldstatus $50,000
6. 2007-10-12
   historical
7. 2007-04-13
   listed $69,500

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 4/10 Moderate 7 d/yr ≥100°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: $13,761
• − Mortgage interest: −$8,288
• − Property taxes: −$1,028
• − Insurance: −$740
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$4,304
• Taxable loss: −$2,801
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $464/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: Circleville City
• NCES district ID: 3904376
• Math proficiency: 37% ▼ -19.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $39,318
• Composite: 35.09/100
• National rank: #5021
• State rank: #533 of 656 in OH

Livability — Circleville

• Score: 71/100
• State rank: #437
• US rank: #7237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Circleville, OH
• County: Pickaway · 57,589 people
• Metro: Columbus, OH
• Population (ZIP): 24,314
• Household income: $63,715
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 7.4

Population outlook (Pickaway County) Hauer SSP2

• Today (2025): 59,488 people
• By 2030: 60,400 · +1.5%
• By 2040: 61,498 · +3.4%
• By 2050: 61,478 · +3.3%
• By 2075: 59,696 · +0.3%
• By 2100: 51,458 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Pickaway

• 2024 margin: Solid R (+48.5) · D 25.3% · R 73.8%
• 2008→2024 swing: -26.8pp toward R · 2008: -21.7pp · 2024: -48.5pp
• All cycles: 2024: R+48.5 2020: R+47.0 2016: R+42.6 2012: R+18.7 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.77%
• Current HPI: 241.5556
• 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

-49.6% since first listed

7 events — show timeline

• 2026-05-01 Pending — CBRMLS
• 2026-03-25 Price Changed $35,000 CBRMLS
• 2025-11-18 Price Changed $109,000 CBRMLS
• 2025-10-21 Listed $119,900 CBRMLS
• 2019-02-28 Sold (Public Records) $50,000 Public Records
• 2007-10-12 Listing Removed — CBRMLS
• 2007-04-13 Listed $69,500 CBRMLS

Property tax history

+0.2%/yr

Latest (2025): $1,028 · +0.5% YoY. Source: county tax records.