67 Sherman Ave · Shelby, OH 44875

$59,900

1 bd · 1.0 ba · 672 sqft · Other · 181 Days on market

Built 1986 $89/sqft · 43% above area Est $42k · 43% over

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential at 67 Sherman Ave — a 0.66-acre property in Shelby offering endless possibilities. The existing 1-bedroom, 1-bath mobile home hasn't been lived in for some time and was previously used for storage, making this a prime opportunity for those looking to build their dream home or start fresh. Two impressive outbuildings elevate the value with a 2-car detached garage with electric and a spacious 2+ car pole barn, also equipped with electric and a convenient half bath. Whether you're seeking extra space for hobbies, storage, or potential rental income, this property is full of versatility. A rare find with room to grow—bring your vision and make it your own. Schedule your showing today!

Key facts

• Half bath
• 0.66-acre property
• 2 garage spots

Tags

• 0.66-ACRE PROPERTY
• 2-CAR DETACHED GARAGE
• SPACIOUS 2+ CAR POLE BARN
• HALF BATH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($718 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.7% in Shelby — 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 74/100 on livability (#301 in OH, #4,837 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: commute D+, employment D, amenities F.
• Shelby City (town): math 62% / reading 62% proficiency, ranked #269 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 58 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 is only 14% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $60k implies a 328% gain — meaningful room to come down on a strong offer.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.79%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (median comp): $41,814
• List price: $59,900
• Delta: 43.25%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $2,553
• Equity at exit: $8,931

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $17,972
• Equity at exit: $5,179

Cash invested: $16,772 (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 44875

• Home prices YoY: -26.2%
• Active inventory: 58
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $718 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$35 /mo · $423/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$151
• Net cashflow: $193

Break-even live

Break-even rent $474

Max offer price $59,900

Occupancy floor 68%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 1/2 2nd St Unit 62 UP Shelby, OH	1.0	1.0	652	$695	$1.07	44d	1	1.19mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $59,900 Pending 181 DOM
2. 2026-06-03
   days on market $59,900 Active 177 DOM
3. 2026-06-02
   days on market $59,900 Active 176 DOM
4. 2026-06-01
   days on market $59,900 Active 175 DOM
5. 2026-05-31
   days on market $59,900 Active 174 DOM
6. 2026-05-30
   days on market $59,900 Active 173 DOM
7. 2026-03-20
   price $59,900 724-char remark

   Show marketing remark (724 chars)

   Discover the potential at 67 Sherman Ave — a 0.66-acre property in Shelby offering endless possibilities. The existing 1-bedroom, 1-bath mobile home hasn't been lived in for some time and was previously used for storage, making this a prime opportunity for those looking to build their dream home or start fresh. Two impressive outbuildings elevate the value with a 2-car detached garage with electric and a spacious 2+ car pole barn, also equipped with electric and a convenient half bath. Whether you're seeking extra space for hobbies, storage, or potential rental income, this property is full of versatility. A rare find with room to grow—bring your vision and make it your own. Schedule your showing today!

8. 2026-01-08
   price $64,900 724-char remark

   Show marketing remark (724 chars)

   Discover the potential at 67 Sherman Ave — a 0.66-acre property in Shelby offering endless possibilities. The existing 1-bedroom, 1-bath mobile home hasn't been lived in for some time and was previously used for storage, making this a prime opportunity for those looking to build their dream home or start fresh. Two impressive outbuildings elevate the value with a 2-car detached garage with electric and a spacious 2+ car pole barn, also equipped with electric and a convenient half bath. Whether you're seeking extra space for hobbies, storage, or potential rental income, this property is full of versatility. A rare find with room to grow—bring your vision and make it your own. Schedule your showing today!

9. 2025-12-08
   listed $69,900 Active 724-char remark

   Show marketing remark (724 chars)

   Discover the potential at 67 Sherman Ave — a 0.66-acre property in Shelby offering endless possibilities. The existing 1-bedroom, 1-bath mobile home hasn't been lived in for some time and was previously used for storage, making this a prime opportunity for those looking to build their dream home or start fresh. Two impressive outbuildings elevate the value with a 2-car detached garage with electric and a spacious 2+ car pole barn, also equipped with electric and a convenient half bath. Whether you're seeking extra space for hobbies, storage, or potential rental income, this property is full of versatility. A rare find with room to grow—bring your vision and make it your own. Schedule your showing today!

10. 2013-03-29
    soldstatus $14,000 308-char remark

    Show marketing remark (308 chars)

    This property has a mobil home on it that has not been lived in for some time --all utilities are off-BUT has a very large building/garage PLUS a two car garage. This has a very large lot and many possibilities. PRICED TO SELL!!!! all city utilities available. If you need extra storage DON'T pass this up!!!

11. 2013-02-26
    listed $16,000 308-char remark

    Show marketing remark (308 chars)

    This property has a mobil home on it that has not been lived in for some time --all utilities are off-BUT has a very large building/garage PLUS a two car garage. This has a very large lot and many possibilities. PRICED TO SELL!!!! all city utilities available. If you need extra storage DON'T pass this up!!!

ⓘ 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: $423 · $35/mo
• Projected year-2 tax: $678 · $57/mo
• Expected delta: +$256/yr (+$21/mo · 60.6%)

ⓘ 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 0% 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: $8,613
• − Mortgage interest: −$3,355
• − Property taxes: −$423
• − Insurance: −$300
• − Repairs & maintenance: −$689
• − Management: −$689
• − Depreciation: −$1,743
• Taxable income: $1,415
• Est. tax owed @ 24.0%: −$339
• After-tax cash flow: $1,973/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: Shelby City
• NCES district ID: 3910009
• Math proficiency: 62% ▼ -12.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $44,197
• Composite: 52.19/100
• National rank: #1609
• State rank: #269 of 656 in OH

Livability — Shelby

• Score: 74/100
• State rank: #301
• US rank: #4837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelby, OH
• County: Richland County · 43,943 people
• City population: 14,144
• Metro: Mansfield, OH
• Population (ZIP): 14,144
• Household income: $61,276
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 284.0

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 (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 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: ▼ -78.08%
• Current HPI: 220.0577
• Rent YoY: —
• Metro: Mansfield, 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

+274.4% since first listed

5 events — show timeline

• 2026-03-20 Price Changed $59,900 MARMLS
• 2026-01-08 Price Changed $64,900 MARMLS
• 2025-12-08 Listed $69,900 MARMLS
• 2013-03-29 Sold (MLS) $14,000 MARMLS
• 2013-02-26 Listed $16,000 MARMLS

Property tax history

+0.2%/yr

Latest (2025): $423 · -0.0% YoY. Source: county tax records.