32717 Water St · Richwood, OH 43344

$14,900

3 bd · 1.0 ba · 1,630 sqft · SingleFamily public records · 7 Days on market

Built 1900 0.37 ac lot ↓ 39% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The property is sold As-Is, Where-Is. Seller has no knowledge, buyer should perform their due diligence and make their own assessments.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Tax information available (annual tax noted)

Exterior

• Parking: Detached 2-car garage
• Utilities: Private sewer; Well water
• Home design: Single-family home; One-and-a-half stories; Built in 1900; No shared/common walls
• Construction: Built in 1900; Block foundation
• Exterior features: Block foundation; Lot roughly 0.37 acres

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom
• Interior features: Approximately 1,630 total living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).

Location & tenants

• Location reads 65/100 on livability (#695 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Union Local School District (rural): math 58% / reading 64% proficiency, ranked #267 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 28 active listings in the ZIP; solid renter incomes; 1,498 units permitted in Union County in 2024 (831 in 5+ unit buildings).
• This rent is only 15% of the median local income ($80k/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 $103 of loan paydown is wiped out by about $447 of value loss. Plan a longer hold.
• Union County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,900

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 6.84% ✓
• Cap rate: 62.81%
• Cash-on-cash: 201.84%
• DSCR: 9.98
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 11.14×
• Total profit: $42,296
• Equity at exit: $2,222

10-year hold

• IRR: —
• Equity multiple: 23.64×
• Total profit: $94,444
• Equity at exit: $1,288

Cash invested: $4,172 (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 43344

• Active inventory: 28
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$78
• Tax est. 1.5%: −$19 /mo · $224/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $702

Break-even live

Break-even rent $130

Max offer price $14,900

Occupancy floor 26%

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: $3,725
• Closing costs: $447
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-09
   status $14,900 Pending 7 DOM
2. 2026-06-08
   days on market $14,900 Active 7 DOM
3. 2026-06-07
   days on market $14,900 Active 6 DOM
4. 2026-06-03
   days on market $14,900 Active 2 DOM
5. 2026-06-02
   remarks 135-char remark
6. 2026-06-02
   listed $14,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,224
• − Mortgage interest: −$835
• − Property taxes: −$224
• − Insurance: −$74
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$433
• Taxable income: $8,702
• Est. tax owed @ 24.0%: −$2,088
• After-tax cash flow: $6,333/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: North Union Local School District
• NCES district ID: 3905033
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $54,673
• Composite: 52.33/100
• National rank: #1591
• State rank: #267 of 656 in OH

Livability — Richwood

• Score: 65/100
• State rank: #695
• US rank: #12419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Union · 46,985 people
• Metro: Columbus, OH
• Population (ZIP): 6,049
• Household income: $80,087
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 12.0

Population outlook (Union County) Hauer SSP2

• Today (2025): 58,316 people
• By 2030: 60,024 · +2.9%
• By 2040: 62,846 · +7.8%
• By 2050: 64,195 · +10.1%
• By 2075: 65,468 · +12.3%
• By 2100: 60,748 · +4.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Union

• 2024 margin: Strong R (+29.6) · D 34.7% · R 64.3% · Other 1.0%
• 2008→2024 swing: -1.6pp toward R · 2008: -28.0pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+31.5 2016: R+38.0 2012: R+29.7 2008: R+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.39%
• Current HPI: 258.5854
• 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

-38.9% since first listed

4 events — show timeline

• 2026-06-01 Listed $14,900 CBRMLS
• 2026-02-24 Listing Removed — CBRMLS
• 2026-02-06 Listed $26,000 CBRMLS
• 2004-07-15 Sold (Public Records) $24,400 Public Records

Property tax history

+13.2%/yr

Latest (2025): $1,176 · +19.0% YoY. Source: county tax records.