237 E 9th St · Ashland, OH 44805

$60,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 103 Days on market

Built 1901 $58/sqft · 58% below area

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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 +5.8/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable living in Ashland! This home features a dining room, breakfast bar, and a two-car garage.

Key facts

• Dining room
• Breakfast bar
• 2 garage spots

Tags

• DINING ROOM
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 3.8% in Ashland — 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 72/100 on livability (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 125 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $60k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 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 1901 — 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: 1.86% ✓
• Cap rate: 16.00%
• Cash-on-cash: 34.67%
• DSCR: 2.54
• GRM: 4.5

CMA / ARV

• ARV (median comp): $141,701
• List price: $60,000
• Delta: -57.66%
• 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
1000 Union St	0.12mi	3/1.0	1,056 (+2%)	6mo	$140,000	$133	87
917 Union St	0.08mi	2/1.0 (-1)	1,064 (+2%)	1mo	$120,000	$113	86
302 E 8th St	0.08mi	3/1.0	936 (-10%)	2mo	$145,000	$155	78
255 E 9th St	0.04mi	2/1.0 (-1)	1,112 (+7%)	6mo	$145,000	$130	76
318 Miller Rear St	0.37mi	2/1.0 (-1)	998 (-4%)	3mo	$75,000	$75	69
318 Miller Street Rear St	0.37mi	2/1.0 (-1)	998 (-4%)	3mo	$75,000	$75	69
422 Snader Ave	0.54mi	3/1.0	1,100 (+6%)	1mo	$165,000	$150	64
101 W 12th St	0.37mi	2/1.0 (-1)	1,100 (+6%)	6mo	$129,000	$117	63
219 W Washington St	0.67mi	3/1.0	1,004 (-4%)	1mo	$115,000	$115	62
1499 Troy Rd	0.61mi	3/1.0	1,092 (+5%)	4mo	$179,000	$164	60
406 E Liberty St	0.65mi	3/1.0	1,090 (+5%)	5mo	$155,000	$142	57
426 Diamond St	0.75mi	3/1.5	1,087 (+4%)	5mo	$167,900	$154	52

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.55×
• Total profit: $25,970
• Equity at exit: $8,946

10-year hold

• IRR: 43.5%
• Equity multiple: 5.98×
• Total profit: $83,732
• Equity at exit: $5,188

Cash invested: $16,800 (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 44805

• Rents YoY: 7.1%
• Active inventory: 125
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,118 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$59 /mo · $702/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $485

Break-even live

Break-even rent $504

Max offer price $60,000

Occupancy floor 52%

Sensitivity live

Price	-10% $519	-5% $502	+0% $485	+5% $468	+10% $451
Rent	-10% $397	-5% $441	+0% $485	+5% $530	+10% $574
Rate	-1.0pp $516	-0.5pp $501	base $485	+0.5pp $470	+1.0pp $454

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	44d	1	0.06mi
222 E Walnut St Unit 212 Ashland, OH	2.0	1.0	970	$900	$0.93	44d	1	0.59mi
318 Quarry St Unit 4 Ashland, OH	2.0	1.0	750	$800	$1.07	44d	1	0.71mi
332 Sloan Ave Ashland, OH	3.0	1.5	1120	$1,300	$1.16	44d	1	1.24mi

Listing history 20 events

1. 2026-06-21
   days on market $60,000 Active 103 DOM
2. 2026-06-19
   days on market $60,000 Active 101 DOM
3. 2026-06-18
   days on market $60,000 Active 100 DOM
4. 2026-06-17
   days on market $60,000 Active 99 DOM
5. 2026-06-16
   days on market $60,000 Active 98 DOM
6. 2026-06-15
   days on market $60,000 Active 97 DOM
7. 2026-06-14
   days on market $60,000 Active 95 DOM
8. 2026-06-12
   days on market $60,000 Active 94 DOM
9. 2026-06-09
   days on market $60,000 Active 91 DOM
10. 2026-06-08
    days on market $60,000 Active 90 DOM
11. 2026-06-07
    days on market $60,000 Active 89 DOM
12. 2026-06-02
    days on market $60,000 Active 84 DOM
13. 2026-06-01
    days on market $60,000 Active 83 DOM
14. 2026-05-31
    days on market $60,000 Active 82 DOM
15. 2026-05-30
    days on market $60,000 Active 81 DOM
16. 2026-05-05
    price $64,900 100-char remark

    Show marketing remark (100 chars)

    Affordable living in Ashland! This home features a dining room, breakfast bar, and a two-car garage.

17. 2026-04-15
    price $64,900 101-char remark

    Show marketing remark (101 chars)

    Affordable living in Ashland! This home features a dining room, breakfast bar, and a two-car garage.

18. 2026-03-11
    listed $74,900 Active 100-char remark

    Show marketing remark (101 chars)

    Affordable living in Ashland! This home features a dining room, breakfast bar, and a two-car garage.

19. 2026-03-11
    listed $74,900 Active 101-char remark

    Show marketing remark (101 chars)

    Affordable living in Ashland! This home features a dining room, breakfast bar, and a two-car garage.

20. 1975-09-22
    soldstatus $10,000

ⓘ 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: $702 · $59/mo
• Projected year-2 tax: $819 · $68/mo
• Expected delta: +$117/yr (+$10/mo · 16.6%)

ⓘ 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 ≥97°F today · 16 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: $13,422
• − Mortgage interest: −$3,361
• − Property taxes: −$702
• − Insurance: −$300
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$1,745
• Taxable income: $5,166
• Est. tax owed @ 24.0%: −$1,240
• After-tax cash flow: $4,586/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, OH
• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, 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

+549.0% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $64,900 ABOR
• 2026-04-15 Price Changed $64,900 MARMLS
• 2026-03-11 Listed $74,900 MARMLS
• 2026-03-11 Listed $74,900 ABOR
• 1975-09-22 Sold (Public Records) $10,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $702 · -11.9% YoY. Source: county tax records.