24 Leggett Ave · Chillicothe, OH 45601

$119,900

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 135 Days on market

Built 1953 4,356 sqft lot $77/sqft · 45% above area Est $82k · 45% over ↓ 3% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Looking for a great investment property or a perfect owner-occupied rental. This duplex offers two spacious units with one bedroom, one bath each side, with a carport for off street parking. Conveniently located within the city and close to shopping, dining, highway, and other local amenities.

Key facts

• Spacious 1 bedroom
• Close to dining
• Close to highway

Tags

• SPACIOUS 1 BEDROOM
• CARPORT FOR OFF STREET PARKING
• CONVENIENTLY LOCATED
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO HIGHWAY

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $940 ($11k/yr) — positive. Per door: $470/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 4.2% in Chillicothe — 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 (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 178 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).
• At $2,182/mo this rent would consume 46% of the median local household income ($57k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ross County population projected at -12% 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.60%
• DSCR: 2.49
• GRM: 4.6

CMA / ARV

• ARV (median comp): $82,453
• List price: $119,900
• Delta: 45.42%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.9%
• Equity multiple: 2.20×
• Total profit: $40,438
• Equity at exit: $17,877

10-year hold

• IRR: 36.3%
• Equity multiple: 4.35×
• Total profit: $112,316
• Equity at exit: $10,367

Cash invested: $33,572 (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 45601

• Active inventory: 178
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,182 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$105 /mo · $1,262/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $940

Break-even live

Break-even rent $992

Max offer price $119,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,008	-5% $974	+0% $940	+5% $906	+10% $872
Rent	-10% $768	-5% $854	+0% $940	+5% $1,026	+10% $1,112
Rate	-1.0pp $1,000	-0.5pp $970	base $940	+0.5pp $909	+1.0pp $877

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,182
Total (2 units)			$2,182

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $119,900 Active 135 DOM
2. 2026-06-17
   days on market $119,900 Active 134 DOM
3. 2026-06-16
   days on market $119,900 Active 133 DOM
4. 2026-06-15
   days on market $119,900 Active 132 DOM
5. 2026-06-13
   days on market $119,900 Active 130 DOM
6. 2026-06-12
   days on market $119,900 Active 129 DOM
7. 2026-06-09
   days on market $119,900 Active 126 DOM
8. 2026-06-08
   days on market $119,900 Active 125 DOM
9. 2026-06-08
   days on market $119,900 Active 124 DOM
10. 2026-06-07
    days on market $119,900 Active 123 DOM
11. 2026-06-04
    days on market $119,900 Active 120 DOM
12. 2026-06-03
    price $119,900 Active 119 DOM
13. 2026-06-02
    days on market $124,900 Active 119 DOM
14. 2026-06-01
    days on market $124,900 Active 118 DOM
15. 2026-05-31
    days on market $124,900 Active 117 DOM
16. 2026-03-18
    price $124,900 294-char remark

    Show marketing remark (294 chars)

    Looking for a great investment property or a perfect owner-occupied rental. This duplex offers two spacious units with one bedroom, one bath each side, with a carport for off street parking. Conveniently located within the city and close to shopping, dining, highway, and other local amenities.

17. 2026-03-18
    price $124,900 294-char remark

    Show marketing remark (294 chars)

    Looking for a great investment property or a perfect owner-occupied rental. This duplex offers two spacious units with one bedroom, one bath each side, with a carport for off street parking. Conveniently located within the city and close to shopping, dining, highway, and other local amenities.

18. 2026-02-03
    listed $134,900 Active 294-char remark

    Show marketing remark (294 chars)

    Looking for a great investment property or a perfect owner-occupied rental. This duplex offers two spacious units with one bedroom, one bath each side, with a carport for off street parking. Conveniently located within the city and close to shopping, dining, highway, and other local amenities.

19. 2026-02-02
    listed $134,900 Active 294-char remark

    Show marketing remark (294 chars)

    Looking for a great investment property or a perfect owner-occupied rental. This duplex offers two spacious units with one bedroom, one bath each side, with a carport for off street parking. Conveniently located within the city and close to shopping, dining, highway, and other local amenities.

20. 2025-10-09
    soldstatus $100,000
21. 2025-09-11
    soldstatus $100,000 Closed
22. 2025-09-11
    soldstatus $100,000 Closed
23. 2025-08-16
    status Pending
24. 2025-08-15
    historical
25. 2025-07-01
    listed $129,000 Active
26. 2025-06-30
    listed $129,000

ⓘ 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: $1,262 · $105/mo
• Projected year-2 tax: $1,566 · $131/mo
• Expected delta: +$304/yr (+$25/mo · 24.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $26,184
• − Mortgage interest: −$6,716
• − Property taxes: −$1,262
• − Insurance: −$600
• − Repairs & maintenance: −$2,095
• − Management: −$2,095
• − Depreciation: −$3,488
• Taxable income: $9,929
• Est. tax owed @ 24.0%: −$2,383
• After-tax cash flow: $8,896/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: Chillicothe City
• NCES district ID: 3904374
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $37,990
• Composite: 34.55/100
• National rank: #5174
• State rank: #535 of 656 in OH

Livability — Chillicothe

• Score: 62/100
• State rank: #909
• US rank: #17195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chillicothe, OH
• County: Ross · 75,517 people
• Population (ZIP): 56,453
• Household income: $57,430
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 10.6

Population outlook (Ross County) Hauer SSP2

• Today (2025): 75,482 people
• By 2030: 74,035 · -1.9%
• By 2040: 70,702 · -6.3%
• By 2050: 66,706 · -11.6%
• By 2075: 55,398 · -26.6%
• By 2100: 42,197 · -44.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ross

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -32.1pp toward R · 2008: -7.2pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+35.2 2016: R+27.4 2012: R+2.4 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.40%
• Current HPI: 205.7051
• 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

-3.2% since first listed

11 events — show timeline

• 2026-03-18 Price Changed $124,900 CBRMLS
• 2026-03-18 Price Changed $124,900 SVAR
• 2026-02-03 Listed $134,900 SVAR
• 2026-02-02 Listed $134,900 CBRMLS
• 2025-10-09 Sold (Public Records) $100,000 Public Records
• 2025-09-11 Sold (MLS) $100,000 CBRMLS
• 2025-09-11 Sold (MLS) $100,000 SVAR
• 2025-08-16 Pending — SVAR
• 2025-08-15 Listing Removed — CBRMLS
• 2025-07-01 Listed $129,000 SVAR
• 2025-06-30 Listed $129,000 CBRMLS

Property tax history

-1.5%/yr

Latest (2025): $1,262 · +24.0% YoY. Source: county tax records.