93 W College Ave · Johnstown, OH 43031

$115,000

3 bd · 1.0 ba · 1,682 sqft · MultiFamily public records · 1 Days on market

Built 1920 6,534 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

POTENTIAL INVESTMENT IN THE VILLAGE OF JOHNSTOWN. GREAT LOCATION! THISCAN BE SPLIT FOR 2 FAMILY. 1 SIDE IS 1 BDRM AND THE OTHER SIDE IS 2 BDRM. NEWER CARPET, ROOF, VINYL SIDING & WINDOWS.

Key facts

• 6,534 sq ft lot
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 17.0% vs local median 3.8% in Johnstown — 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 77/100 on livability (#186 in OH, #2,873 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Johnstown-Monroe Local (town): math 70% / reading 79% proficiency, ranked #85 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 29y 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 $76k; list at $115k implies a 50% 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 $115,000

Questions for the listing agent

1. Built in 1920 — 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. 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?
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 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: 2.06% ✓
• Cap rate: 16.97%
• Cash-on-cash: 38.12%
• DSCR: 2.70
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $265,756
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206-208 Edwards Rd	0.59mi	4/— (+1)	1,664 (-1%)	10mo	$263,000	$158	57

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: 34.2%
• Equity multiple: 2.45×
• Total profit: $46,584
• Equity at exit: $17,147

10-year hold

• IRR: 41.1%
• Equity multiple: 4.87×
• Total profit: $124,737
• Equity at exit: $9,943

Cash invested: $32,200 (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 43031

• Active inventory: 66
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $1,023

Break-even live

Break-even rent $1,076

Max offer price $115,000

Occupancy floor 52%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 S Williams St Johnstown, OH	2.0	1.0	1312	$1,100	$0.84	16d	1	0.19mi
291 S Main St Johnstown, OH	4.0	2.0	1712	$2,700	$1.58	10d	1	0.21mi
291 S Main St Johnstown, OH	4.0	2.0	1712	$2,700	$1.58	43d	1	0.21mi
304 Gray Fox Ct Johnstown, OH	3.0	2.5	1710	$2,599	$1.52	4d	1	1.03mi

Listing history 11 events

1. 2024-12-02
   status Pending
2. 2010-07-27
   historical
3. 2010-07-13
   listed $115,000
4. 1998-04-09
   soldstatus $76,500 193-char remark

   Show marketing remark (193 chars)

   POTENTIAL INVESTMENT IN THE VILLAGE OF JOHNSTOWN. GREAT LOCATION! THISCAN BE SPLIT FOR 2 FAMILY. 1 SIDE IS 1 BDRM AND THE OTHER SIDE IS 2 BDRM. NEWER CARPET, ROOF, VINYL SIDING & WINDOWS.

5. 1998-03-03
   historical 193-char remark

   Show marketing remark (193 chars)

   POTENTIAL INVESTMENT IN THE VILLAGE OF JOHNSTOWN. GREAT LOCATION! THISCAN BE SPLIT FOR 2 FAMILY. 1 SIDE IS 1 BDRM AND THE OTHER SIDE IS 2 BDRM. NEWER CARPET, ROOF, VINYL SIDING & WINDOWS.

6. 1998-01-08
   listed $84,900 193-char remark

   Show marketing remark (193 chars)

   POTENTIAL INVESTMENT IN THE VILLAGE OF JOHNSTOWN. GREAT LOCATION! THISCAN BE SPLIT FOR 2 FAMILY. 1 SIDE IS 1 BDRM AND THE OTHER SIDE IS 2 BDRM. NEWER CARPET, ROOF, VINYL SIDING & WINDOWS.

7. 1998-01-06
   historical
8. 1997-11-03
   listed $89,900
9. 1997-10-29
   historical
10. 1997-09-04
    listed $89,921
11. 1986-04-24
    soldstatus $11,000

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $2,385 · $199/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 ≥97°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,445
• − Mortgage interest: −$6,442
• − Property taxes: −$2,385
• − Insurance: −$575
• − Repairs & maintenance: −$2,276
• − Management: −$2,276
• − Depreciation: −$3,345
• Taxable income: $11,147
• Est. tax owed @ 24.0%: −$2,675
• After-tax cash flow: $9,600/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: Johnstown-Monroe Local
• NCES district ID: 3904798
• Math proficiency: 70% ▼ -4.00%
• Reading proficiency: 79% ▲ 1.00%
• Median HH income: $69,411
• Composite: 64.92/100
• National rank: #510
• State rank: #85 of 656 in OH

Livability — Johnstown

• Score: 77/100
• State rank: #186
• US rank: #2873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnstown, OH
• County: Licking County · 109,194 people
• City population: 13,876
• Metro: Columbus, OH
• Population (ZIP): 13,876
• Household income: $110,930
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 216.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Italian 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 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: ▼ -310.19%
• Current HPI: 280.5337
• Rent YoY: —
• 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

+945.5% since first listed

11 events — show timeline

• 2024-12-02 Pending — CBRMLS
• 2010-07-27 Listing Removed — CBRMLS
• 2010-07-13 Listed $115,000 CBRMLS
• 1998-04-09 Sold (MLS) $76,500 CBRMLS
• 1998-03-03 Listing Removed — CBRMLS
• 1998-01-08 Listed $84,900 CBRMLS
• 1998-01-06 Listing Removed — CBRMLS
• 1997-11-03 Listed $89,900 CBRMLS
• 1997-10-29 Listing Removed — CBRMLS
• 1997-09-04 Listed $89,921 CBRMLS
• 1986-04-24 Sold (Public Records) $11,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,385 · +0.9% YoY. Source: county tax records.