226 E Main St · Freeport, OH 43973

$34,500

1 bd · 2.0 ba · 850 sqft · SingleFamily public records · 19 Days on market

Built 1920 7,187 sqft lot $41/sqft · 35% below area Est $53k · 35% under ↓ 23% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.3/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Dreaming of a place near the water? This cozy one-bedroom, one-bath home may need some TLC, but it's full of potential! Perfect for DIY enthusiasts or anyone looking for a rewarding project. With a detached one-car garage and a location close to multiple lakes for great fishing and outdoor fun, this could be your ideal retreat ? Just bring your vision and make it shine! The home has a new Gibson heating/central air, metal roof, updated electric in 2019, public water, and public sewer was installed in 2025. The property offers a spacious backyard as well as a detached one car garage.

Key facts

• Outdoor fun
• Detached garage
• 7,187 sq ft lot

Tags

• DETACHED GARAGE
• LOCATION CLOSE TO LAKES
• OUTDOOR FUN

Property features AI

Finance

• HOA & community: Sidewalks; Nearby fishing

Exterior

• Parking: Driveway; Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-story; Fixer condition
• Construction: Metal roof; Vinyl and wood siding; Block foundation; Built (year per public records)
• Exterior features: Awning(s); Side porch; Few trees; Paved lot; Has view

Interior

• Kitchen: Breakfast bar connected to counter; Counter bar / eat-in area; Access to pantry
• Bedrooms: One main-level bedroom
• Flooring: Carpet in living room and bedroom; Laminate in dining room; Hardwood in family room
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas heating; Central air (electric)
• Interior features: Breakfast bar; Built-in features; Pantry; Unfinished basement; Laundry room
• Laundry & utility: Main-level laundry room; Utility room on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($835 rent vs $34k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,029 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, crime D, employment D.
• Harrison Hills City (rural): math 35% / reading 51% proficiency, ranked #522 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 1 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $2k of equity ($239 loan paydown + $2k appreciation (4.5% local appreciation)).
• Harrison County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,982 (1.5% below list)

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. Crime grade is D 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. 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 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: 2.42% ✓
• Cap rate: 20.40%
• Cash-on-cash: 50.39%
• DSCR: 3.24
• GRM: 3.4

CMA / ARV

• ARV (median comp): $52,719
• List price: $34,500
• Delta: -34.56%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.4%
• Equity multiple: 4.41×
• Total profit: $32,913
• Equity at exit: $18,599

10-year hold

• IRR: 55.6%
• Equity multiple: 9.04×
• Total profit: $77,657
• Equity at exit: $31,340

Cash invested: $9,660 (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 43973

• Home prices YoY: 2.8%
• Active inventory: 10
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $835 medium
• Mortgage (P&I): −$181
• Tax from tax record: −$59 /mo · $709/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $406

Break-even live

Break-even rent $322

Max offer price $34,500

Occupancy floor 46%

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: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-04
   statusdays on market $34,500 Pending 19 DOM
2. 2026-06-02
   days on market $34,500 Active 18 DOM
3. 2026-06-01
   days on market $34,500 Active 17 DOM
4. 2026-05-31
   days on market $34,500 Active 16 DOM
5. 2026-05-15
   listed $34,500 Active 590-char remark
6. 2026-05-06
   historical
7. 2026-01-29
   price $48,000
8. 2025-11-06
   listed $52,500 Active
9. 2020-05-11
   soldstatus $45,000

ⓘ 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: $709 · $59/mo
• Projected year-2 tax: $709 · $59/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 · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,025
• − Mortgage interest: −$1,933
• − Property taxes: −$709
• − Insurance: −$172
• − Repairs & maintenance: −$802
• − Management: −$802
• − Depreciation: −$1,004
• Taxable income: $4,603
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $3,762/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: Harrison Hills City
• NCES district ID: 3904524
• Math proficiency: 35% ▼ -24.00%
• Reading proficiency: 51% ▼ -12.00%
• Median HH income: $39,642
• Composite: 35.93/100
• National rank: #4803
• State rank: #522 of 656 in OH

Livability — Freeport

• Score: 59/100
• State rank: #1029
• US rank: #20449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, OH
• County: Harrison · 13,333 people
• Population (ZIP): 2,341
• Household income: $70,833
• Rent vs Own: 15.0% rent · 85.0% own

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 14,537 people
• By 2030: 13,961 · -4.0%
• By 2040: 12,753 · -12.3%
• By 2050: 11,607 · -20.2%
• By 2075: 9,299 · -36.0%
• By 2100: 7,447 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3%
• Common ancestry: Iranian 11% Romanian 4% Serbian 1%
• Foreign-born: 0%
• Languages at home: 93% English-only · German/W. Germanic 6% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+55.2) · D 21.9% · R 77.1%
• 2008→2024 swing: -52.8pp toward R · 2008: -2.4pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.6 2016: R+48.3 2012: R+14.9 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.54%
• Current HPI: 164.5633
• Rent YoY: —
• Metro: —
• 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

-23.3% since first listed

6 events — show timeline

• 2026-06-03 Pending — MLSNOW
• 2026-05-15 Listed $34,500 MLSNOW
• 2026-05-06 Listing Removed — MLSNOW
• 2026-01-29 Price Changed $48,000 MLSNOW
• 2025-11-06 Listed $52,500 MLSNOW
• 2020-05-11 Sold (Public Records) $45,000 Public Records

Property tax history

+23.1%/yr

Latest (2025): $709 · +0.1% YoY. Source: county tax records.