323 W Bigelow Ave · Findlay, OH 45840

$175,000

3 bd · 1.0 ba · 1,263 sqft · SingleFamily public records · 112 Days on market

Built 1967 8,250 sqft lot $139/sqft · 24% below area Est $229k · 24% 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.9/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

Key facts

• Workshop space
• Fenced in backyard
• Raised garden beds

Tags

• CONVERTED ATTACHED GARAGE
• TWO ADDITIONAL SUNROOMS
• METAL BUILDING GARAGE
• WORKSHOP SPACE
• FENCED IN BACKYARD
• RAISED GARDEN BEDS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.0% in Findlay — 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 81/100 on livability (#98 in OH, #1,496 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Findlay City (town): math 56% / reading 56% proficiency, ranked #357 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $175k implies a 126% gain — meaningful room to come down on a strong offer.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.09% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (median comp): $229,403
• List price: $175,000
• Delta: -23.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
323 W Bigelow Ave	0.00mi	3/1.0	1,263 (0%)	0mo	$170,000	$135	100
245 Edinborough Dr	0.23mi	3/1.0	1,275 (+1%)	2mo	$176,900	$139	86
2616 Eton Pl	0.18mi	3/1.5	1,300 (+3%)	4mo	$215,000	$165	81
120 W Melrose Ave	0.53mi	3/2.0	1,284 (+2%)	2mo	$219,900	$171	67
2418 Hollybrook Dr	0.33mi	3/1.5	1,136 (-10%)	1mo	$242,000	$213	65
3315 Crosshill Dr	0.49mi	3/1.5	1,347 (+7%)	1mo	$224,900	$167	64
2419 Hollybrook Dr	0.36mi	3/1.5	1,107 (-12%)	1mo	$255,000	$230	60
2215 Beecher St	0.47mi	3/2.0	1,383 (+10%)	1mo	$254,000	$184	57
643 Edith Ave	0.62mi	3/2.0	1,212 (-4%)	4mo	$190,000	$157	56
528 Rector Ave	0.74mi	3/2.0	1,221 (-3%)	2mo	$188,200	$154	54
2100 Candlewick Dr	0.74mi	3/2.0	1,218 (-4%)	4mo	$195,275	$160	52
201 Bell Ave	0.47mi	3/2.0	1,420 (+12%)	4mo	$219,900	$155	51

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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,435
• Equity at exit: $26,093

10-year hold

• IRR: 11.5%
• Equity multiple: 2.01×
• Total profit: $49,500
• Equity at exit: $15,131

Cash invested: $49,000 (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 45840

• Rents YoY: 5.7%
• Active inventory: 219
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$175 /mo · $2,096/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $340

Break-even live

Break-even rent $1,475

Max offer price $175,000

Occupancy floor 77%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Heartland Ct Findlay, OH	2.0–3.0	2.0–2.5	1455	$2,650	$1.82	23d	12	1.13mi
1231 Crystal Glen Blvd Findlay, OH	1.0–2.0	1.0–1.5	753	$1,110	$1.47	13d	13	1.47mi

Listing history 23 events

1. 2026-06-14
   statusdays on market $175,000 Pending 112 DOM
2. 2026-06-12
   days on market $175,000 Contingent 111 DOM
3. 2026-06-09
   days on market $175,000 Contingent 108 DOM
4. 2026-06-08
   days on market $175,000 Contingent 107 DOM
5. 2026-06-07
   days on market $175,000 Contingent 106 DOM
6. 2026-06-05
   days on market $175,000 Contingent 103 DOM
7. 2026-06-02
   days on market $175,000 Contingent 101 DOM
8. 2026-06-01
   days on market $175,000 Contingent 100 DOM
9. 2026-05-31
   days on market $175,000 Contingent 99 DOM
10. 2026-05-30
    days on market $175,000 Contingent 98 DOM
11. 2026-05-17
    historical Contingent 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

12. 2026-04-30
    price $175,000 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

13. 2026-04-23
    status Active 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

14. 2026-04-13
    historical Contingent 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

15. 2026-04-13
    status Active 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

16. 2026-04-13
    status Pending 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

17. 2026-03-17
    price $185,000 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

18. 2026-02-21
    listed $189,000 Active 612-char remark

    Show marketing remark (612 chars)

    A unique opportunity for additional living space in this quaint home with a converted attached garage (with wall heater) and two additional sunrooms. An added bonus for more space is a 24 x 32 metal building/garage plus workshop space with electric service. Enjoy the fenced in backyard and raised garden beds. Many updates! HVAC serviced Feb 2026 and new thermostat. Electric panel updated to 200 amp. Updated plumbing. Tile installed around perimeter of house and inside foundation. Updated gutters and soffits. Sump pump in crawl, with back-up sump. Newer windows in bedrooms and bathroom. SS appliances 2023.

19. 2011-07-27
    soldstatus $77,500 656-char remark

    Show marketing remark (656 chars)

    ERA LISTING. WELL MAINTAINED NORTHEND BRICK RANCH WITH MANY UPDATES. GREAT HOME FOR FIRST TIME HOMEOWNERS OR DOWNSIZERS. UPDATES INCLUDE NEW KITCHEN CABINETS, COUNTERTOPS, SINK, AND GARBAGE DISPOSAL 2006. BATHROOM REMODELED 2006. NEW ROOF 2008. NEW HOT WATER HEATER 2008. NEW FURNACE MOTOR 2008. NEW CARPET THROUGHOUT. RECREATION ROOM WAS ONCE A GARAGE AND COULD EASILY BE CONVERTED BACK TO GARAGE. SELLER IS OFFERING $1500 ALLOWANCE INCENTIVE TO PURCHASER FOR THE RECONSTRUCTION OF GARAGE DOOR OR MISCELLANEOUS HOME IMPROVEMENTS. SELLER PROVIDING HOME WARRANTY FOR FIRST YEAR. CONTACT LEISA HERNANDEZ 419-350-1406 FOR YOUR PERSONAL TOUR TODAY.

20. 2011-07-27
    soldstatus $77,500

    Show marketing remark (656 chars)

    ERA LISTING. WELL MAINTAINED NORTHEND BRICK RANCH WITH MANY UPDATES. GREAT HOME FOR FIRST TIME HOMEOWNERS OR DOWNSIZERS. UPDATES INCLUDE NEW KITCHEN CABINETS, COUNTERTOPS, SINK, AND GARBAGE DISPOSAL 2006. BATHROOM REMODELED 2006. NEW ROOF 2008. NEW HOT WATER HEATER 2008. NEW FURNACE MOTOR 2008. NEW CARPET THROUGHOUT. RECREATION ROOM WAS ONCE A GARAGE AND COULD EASILY BE CONVERTED BACK TO GARAGE. SELLER IS OFFERING $1500 ALLOWANCE INCENTIVE TO PURCHASER FOR THE RECONSTRUCTION OF GARAGE DOOR OR MISCELLANEOUS HOME IMPROVEMENTS. SELLER PROVIDING HOME WARRANTY FOR FIRST YEAR. CONTACT LEISA HERNANDEZ 419-350-1406 FOR YOUR PERSONAL TOUR TODAY.

21. 2010-04-21
    listed $77,500 656-char remark

    Show marketing remark (656 chars)

    ERA LISTING. WELL MAINTAINED NORTHEND BRICK RANCH WITH MANY UPDATES. GREAT HOME FOR FIRST TIME HOMEOWNERS OR DOWNSIZERS. UPDATES INCLUDE NEW KITCHEN CABINETS, COUNTERTOPS, SINK, AND GARBAGE DISPOSAL 2006. BATHROOM REMODELED 2006. NEW ROOF 2008. NEW HOT WATER HEATER 2008. NEW FURNACE MOTOR 2008. NEW CARPET THROUGHOUT. RECREATION ROOM WAS ONCE A GARAGE AND COULD EASILY BE CONVERTED BACK TO GARAGE. SELLER IS OFFERING $1500 ALLOWANCE INCENTIVE TO PURCHASER FOR THE RECONSTRUCTION OF GARAGE DOOR OR MISCELLANEOUS HOME IMPROVEMENTS. SELLER PROVIDING HOME WARRANTY FOR FIRST YEAR. CONTACT LEISA HERNANDEZ 419-350-1406 FOR YOUR PERSONAL TOUR TODAY.

22. 2010-04-21
    listed $79,500

    Show marketing remark (656 chars)

    ERA LISTING. WELL MAINTAINED NORTHEND BRICK RANCH WITH MANY UPDATES. GREAT HOME FOR FIRST TIME HOMEOWNERS OR DOWNSIZERS. UPDATES INCLUDE NEW KITCHEN CABINETS, COUNTERTOPS, SINK, AND GARBAGE DISPOSAL 2006. BATHROOM REMODELED 2006. NEW ROOF 2008. NEW HOT WATER HEATER 2008. NEW FURNACE MOTOR 2008. NEW CARPET THROUGHOUT. RECREATION ROOM WAS ONCE A GARAGE AND COULD EASILY BE CONVERTED BACK TO GARAGE. SELLER IS OFFERING $1500 ALLOWANCE INCENTIVE TO PURCHASER FOR THE RECONSTRUCTION OF GARAGE DOOR OR MISCELLANEOUS HOME IMPROVEMENTS. SELLER PROVIDING HOME WARRANTY FOR FIRST YEAR. CONTACT LEISA HERNANDEZ 419-350-1406 FOR YOUR PERSONAL TOUR TODAY.

23. 2005-01-28
    soldstatus $91,000

ⓘ 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: $2,096 · $175/mo
• Projected year-2 tax: $2,413 · $201/mo
• Expected delta: +$317/yr (+$26/mo · 15.1%)

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

Taxation est. · year 1

• Rental income: $22,863
• − Mortgage interest: −$9,803
• − Property taxes: −$2,096
• − Insurance: −$875
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$5,091
• Taxable income: $1,340
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $3,757/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: Findlay City
• NCES district ID: 3910000
• Math proficiency: 56% ▼ -11.00%
• Reading proficiency: 56% ▼ -9.00%
• Median HH income: $45,261
• Composite: 47.31/100
• National rank: #2300
• State rank: #357 of 656 in OH

Livability — Findlay

• Score: 81/100
• State rank: #98
• US rank: #1496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Findlay, OH
• County: Hancock County · 54,559 people
• City population: 54,559
• Metro: Findlay, OH
• Population (ZIP): 54,559
• Household income: $68,083
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1540.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,526 people
• By 2030: 77,777 · +0.3%
• By 2040: 76,976 · -0.7%
• By 2050: 74,479 · -3.9%
• By 2075: 65,741 · -15.2%
• By 2100: 52,942 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+38.4) · D 30.2% · R 68.7% · Other 1.1%
• 2008→2024 swing: -15.3pp toward R · 2008: -23.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+37.5 2016: R+40.8 2012: R+28.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.43%
• Current HPI: 194.9132
• Rent YoY: ▲ 5.68%
• Metro: Findlay, 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

+92.3% since first listed

13 events — show timeline

• 2026-05-17 Contingent — NORIS
• 2026-04-30 Price Changed $175,000 NORIS
• 2026-04-23 Relisted — NORIS
• 2026-04-13 Contingent — NORIS
• 2026-04-13 Relisted — NORIS
• 2026-04-13 Pending — NORIS
• 2026-03-17 Price Changed $185,000 NORIS
• 2026-02-21 Listed $189,000 NORIS
• 2011-07-27 Sold (MLS) $77,500 NORIS
• 2011-07-27 Sold (MLS) $77,500 NORIS
• 2010-04-21 Listed $79,500 NORIS
• 2010-04-21 Listed $77,500 NORIS
• 2005-01-28 Sold (Public Records) $91,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,096 · +7.9% YoY. Source: county tax records.