122 W Orchard St · West Manchester, OH 45382

$69,900

2 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 21 Days on market

Built 1946 8,276 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

perfect property for the investor! property needs work but is priced to sell! one story layout that is perfect for downsizing or a small family. Quiet location but near amenities. Small garage and a nice enclosed porch.

Key facts

• One story layout
• Enclosed porch
• Quiet location

Tags

• ONE STORY LAYOUT
• QUIET LOCATION
• ENCLOSED PORCH

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; No common walls; Built in 1946
• Construction: Block foundation
• Exterior features: Lot on approximately 0.19 acres

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Interior features: Crawl space basement; Living area approximately 1,026

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#884 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• National Trail Local (rural): math 53% / reading 59% proficiency, ranked #352 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: National Trail Elementary School (math 77% / reading 72%, grade A, #272 of 1,584 statewide, top 19%, 349 students, 0% FRL); National Trail Middle School (math 49% / reading 55%, grade C+, #386 of 654 statewide, top 61%, 305 students, 47% FRL); National Trail High School (math 37% / reading 57%, grade D-, #435 of 781 statewide, top 59%, 277 students, 93% FRL) — zoned schools average 47% FRL vs 62% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; solid renter incomes; 55 units permitted in Preble County in 2024 (0 in 5+ unit buildings).
• This rent is only 13% of the median local income ($88k/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 $3k of equity ($483 loan paydown + $2k appreciation (3.0% local appreciation)).
• Preble County population projected at -17% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $70k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.41% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.10%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $35,910
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 E Orchard St	0.21mi	3/1.0 (+1)	1,132 (+10%)	19mo	$40,000	$35	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.39×
• Total profit: $27,235
• Equity at exit: $31,430

10-year hold

• IRR: 25.3%
• Equity multiple: 4.61×
• Total profit: $70,637
• Equity at exit: $48,437

Cash invested: $19,572 (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 45382

• Active inventory: 3
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $295

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 65%

Sensitivity live

Price	-10% $343	-5% $319	+0% $295	+5% $271	+10% $247
Rent	-10% $217	-5% $256	+0% $295	+5% $334	+10% $373
Rate	-1.0pp $330	-0.5pp $313	base $295	+0.5pp $277	+1.0pp $259

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $69,900 Active 21 DOM
2. 2026-06-18
   days on market $69,900 Active 20 DOM
3. 2026-06-17
   days on market $69,900 Active 19 DOM
4. 2026-06-17
   price $69,900 Active 18 DOM
5. 2026-06-16
   days on market $79,900 Active 18 DOM
6. 2026-06-15
   days on market $79,900 Active 17 DOM
7. 2026-06-14
   days on market $79,900 Active 15 DOM
8. 2026-06-12
   days on market $79,900 Active 14 DOM
9. 2026-06-09
   days on market $79,900 Active 11 DOM
10. 2026-06-08
    days on market $79,900 Active 10 DOM
11. 2026-06-07
    pricedays on market $79,900 Active 9 DOM
12. 2026-06-03
    days on market $119,900 Active 5 DOM
13. 2026-06-02
    days on market $119,900 Active 4 DOM
14. 2026-06-01
    days on market $119,900 Active 3 DOM
15. 2026-05-31
    days on market $119,900 Active 2 DOM
16. 2026-05-28
    listed $119,900 Active 220-char remark

    Show marketing remark (220 chars)

    perfect property for the investor! property needs work but is priced to sell! one story layout that is perfect for downsizing or a small family. Quiet location but near amenities. Small garage and a nice enclosed porch.

17. 2026-05-28
    listed $119,900 Active

    Show marketing remark (220 chars)

    perfect property for the investor! property needs work but is priced to sell! one story layout that is perfect for downsizing or a small family. Quiet location but near amenities. Small garage and a nice enclosed porch.

18. 1991-05-06
    soldstatus $27,000

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,821
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$946
• − Management: −$946
• − Depreciation: −$2,033
• Taxable income: $2,583
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $2,922/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: National Trail Local
• NCES district ID: 3904927
• Math proficiency: 53% ▼ -13.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $48,311
• Composite: 47.58/100
• National rank: #2262
• State rank: #352 of 656 in OH

Livability — West Manchester

• Score: 62/100
• State rank: #884
• US rank: #16720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Manchester, OH
• County: Preble · 42,634 people
• Population (ZIP): 1,139
• Household income: $88,125
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 7.4

Population outlook (Preble County) Hauer SSP2

• Today (2025): 39,711 people
• By 2030: 38,511 · -3.0%
• By 2040: 35,783 · -9.9%
• By 2050: 33,006 · -16.9%
• By 2075: 27,067 · -31.8%
• By 2100: 21,255 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Preble

• 2024 margin: Solid R (+59.1) · D 20.1% · R 79.2%
• 2008→2024 swing: -27.9pp toward R · 2008: -31.2pp · 2024: -59.1pp
• All cycles: 2024: R+59.1 2020: R+57.5 2016: R+54.0 2012: R+36.7 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+344.1% since first listed

3 events — show timeline

• 2026-05-28 Listed $119,900 CBRMLS
• 2026-05-28 Listed $119,900 Dayton MLS
• 1991-05-06 Sold (Public Records) $27,000 Public Records

Property tax history

+21.9%/yr

Latest (2025): $3,824 · +7.8% YoY. Source: county tax records.