522 N College St · Piqua, OH 45356

$199,900

4 bd · 2.0 ba · 1,850 sqft · SingleFamily public records · 24 Days on market

Built 1950 6,534 sqft lot $108/sqft · 8% above area Est $185k · 8% over

---

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 +13.5/30.0
• DSCR +4.1/10.0
• Schools +4.0/10.0
• ARV discount +3.8/15.0
• Livability +3.1/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 4 bed, 2 bath home offers spacious rooms, many updates and a great layout! The welcoming front porch brings you inside to a huge living room with a picture window that give great natural lighting, new flooring that continues into the open eat-in kitchen with newer cabinetry, tiled backsplash, laminate counters, and breakfast bar for additional seating. The main floor also offers a laundry room, 3 generous sized bedrooms with hardwood flooring, plenty of storage, and a full bath with new tub surround. Upstairs features a very large bedroom and another full bath with walk-in shower. Step outside to enjoy a fully fence yard, deck, lots of privacy and fire pit. Great storage throughout the home including a partial basement and detached 2 car garage. Updates include mini split AC, newer windows, roof in 2020, tub surround, owners opened up a wall between the kitchen and living room, new hot water heater, paint, flooring, and more. Tastefully decorated and located within walking distance to beautiful downtown Piqua's shops, restaurants, schools, parks and close to main routes.

Key facts

• Open eat-in kitchen
• Tiled backsplash
• Huge living room

Tags

• WELCOMING FRONT PORCH
• HUGE LIVING ROOM
• OPEN EAT-IN KITCHEN
• NEWER CABINETRY
• TILED BACKSPLASH
• BREAKFAST BAR

Property features AI

Finance

• Financial info: Property is for sale

Exterior

• Parking: Detached two-car garage
• Utilities: Has heating; Has cooling
• Home design: Aluminum siding
• Construction: Aluminum siding construction; Approximately 1,250 sq. ft. of below-grade unfinished area
• Exterior features: Residential zoning; Lot approximately 0.15 acres (150 x 45)

Interior

• Kitchen: Eat-in kitchen (14 x 12)
• Bedrooms: Second-floor bedroom (17 x 16); Main-floor bedroom (10 x 8); Main-floor bedroom (13 x 11); Main-floor bedroom (12 x 10)
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Hot water heating; Steam heating; Window air conditioning units
• Interior features: Partial basement; 7 total rooms
• Laundry & utility: Main-level laundry (10 x 8)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $7 ($89/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (23.2% below list).
• Recommended offer: $154k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 326 units permitted in Miami 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $110k; list at $200k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,606 (23.2% below list)

Questions for the listing agent

1. Built in 1950 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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?
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: 0.77% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

• ARV (median comp): $184,753
• List price: $199,900
• Delta: 8.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 Boone St	0.20mi	4/1.5	1,784 (-4%)	5mo	$112,000	$63	79
806 W High St	0.19mi	4/3.0	1,773 (-4%)	3mo	$183,000	$103	78
522 W North St	0.17mi	3/2.5 (-1)	1,940 (+5%)	2mo	$224,000	$115	76
606 Boone St	0.16mi	4/2.0	1,610 (-13%)	4mo	$110,000	$68	68
508 Park Ave	0.26mi	4/2.0	1,636 (-12%)	4mo	$218,000	$133	65
419 Riverside Dr	0.46mi	3/2.0 (-1)	1,972 (+7%)	2mo	$134,000	$68	61
924 W North St	0.17mi	3/1.0 (-1)	1,612 (-13%)	2mo	$215,000	$133	60
931 Caldwell St	0.42mi	3/2.0 (-1)	1,658 (-10%)	1mo	$210,000	$127	57
1514 Nicklin Ave	0.70mi	3/2.0 (-1)	1,795 (-3%)	1mo	$149,900	$84	57
412 Camp St	0.36mi	3/1.5 (-1)	1,593 (-14%)	2mo	$221,000	$139	52
327 Miami St	0.59mi	4/2.0	2,081 (+12%)	4mo	$165,000	$79	49
1414 Washington Ave	0.73mi	3/1.5 (-1)	1,680 (-9%)	1mo	$229,900	$137	42

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-32,002
• Equity at exit: $29,806

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-27,599
• Equity at exit: $17,284

Cash invested: $55,972 (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 45356

• Active inventory: 139
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $7

Break-even live

Break-even rent $1,527

Max offer price $199,900

Occupancy floor 95%

Sensitivity live

Price	-10% $121	-5% $64	+0% $7	+5% $-49	+10% $-106
Rent	-10% $-114	-5% $-53	+0% $7	+5% $68	+10% $129
Rate	-1.0pp $108	-0.5pp $58	base $7	+0.5pp $-44	+1.0pp $-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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 Ann St Piqua, OH	3.0	1.0	1388	$1,300	$0.94	4d	1	0.33mi
200 E High St Piqua, OH	3.0	1.0	1500	$1,365	$0.91	5d	1	0.60mi

Listing history 12 events

1. 2026-04-26
   listed $199,900 Active 1104-char remark

   Show marketing remark (1104 chars)

   This charming 4 bed, 2 bath home offers spacious rooms, many updates and a great layout! The welcoming front porch brings you inside to a huge living room with a picture window that give great natural lighting, new flooring that continues into the open eat-in kitchen with newer cabinetry, tiled backsplash, laminate counters, and breakfast bar for additional seating. The main floor also offers a laundry room, 3 generous sized bedrooms with hardwood flooring, plenty of storage, and a full bath with new tub surround. Upstairs features a very large bedroom and another full bath with walk-in shower. Step outside to enjoy a fully fence yard, deck, lots of privacy and fire pit. Great storage throughout the home including a partial basement and detached 2 car garage. Updates include mini split AC, newer windows, roof in 2020, tub surround, owners opened up a wall between the kitchen and living room, new hot water heater, paint, flooring, and more. Tastefully decorated and located within walking distance to beautiful downtown Piqua's shops, restaurants, schools, parks and close to main routes.

2. 2026-04-26
   listed $199,900 Active 1102-char remark

   Show marketing remark (1104 chars)

   This charming 4 bed, 2 bath home offers spacious rooms, many updates and a great layout! The welcoming front porch brings you inside to a huge living room with a picture window that give great natural lighting, new flooring that continues into the open eat-in kitchen with newer cabinetry, tiled backsplash, laminate counters, and breakfast bar for additional seating. The main floor also offers a laundry room, 3 generous sized bedrooms with hardwood flooring, plenty of storage, and a full bath with new tub surround. Upstairs features a very large bedroom and another full bath with walk-in shower. Step outside to enjoy a fully fence yard, deck, lots of privacy and fire pit. Great storage throughout the home including a partial basement and detached 2 car garage. Updates include mini split AC, newer windows, roof in 2020, tub surround, owners opened up a wall between the kitchen and living room, new hot water heater, paint, flooring, and more. Tastefully decorated and located within walking distance to beautiful downtown Piqua's shops, restaurants, schools, parks and close to main routes.

3. 2025-10-29
   historical
4. 2025-09-13
   listed $199,900 Active
5. 2020-08-21
   soldstatus $110,000 Sold
6. 2020-08-21
   soldstatus $110,000 Closed
7. 2020-08-21
   soldstatus $110,000
8. 2020-08-19
   status Pending
9. 2020-07-08
   historical Active/Pending
10. 2020-07-01
    listed $99,900 Active
11. 2020-07-01
    listed $99,900
12. 1995-09-21
    soldstatus $69,000

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $2,006 · $167/mo
• Expected delta: +$1,113/yr (+$93/mo · 124.5%)

ⓘ 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 ≥100°F today · 18 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: $18,433
• − Mortgage interest: −$11,198
• − Property taxes: −$893
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$5,815
• Taxable loss: −$3,422
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $911/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• Rent YoY: —
• Metro: Dayton-Kettering, 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

+189.7% since first listed

14 events — show timeline

• 2026-05-20 Pending — WRIST
• 2026-05-20 Pending — Dayton MLS
• 2026-04-26 Listed $199,900 Dayton MLS
• 2026-04-26 Listed $199,900 WRIST
• 2025-10-29 Listing Removed — WRIST
• 2025-09-13 Listed $199,900 WRIST
• 2020-08-21 Sold (MLS) $110,000 WRIST
• 2020-08-21 Sold (MLS) $110,000 Dayton MLS
• 2020-08-21 Sold (MLS) $110,000 Dayton MLS
• 2020-08-19 Pending — Dayton MLS
• 2020-07-08 Contingent — Dayton MLS
• 2020-07-01 Listed $99,900 WRIST
• 2020-07-01 Listed $99,900 Dayton MLS
• 1995-09-21 Sold (Public Records) $69,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $893 · -47.5% YoY. Source: county tax records.