875 W Graceway Dr · Napoleon, OH 43545

$182,200

3 bd · 1.0 ba · 1,898 sqft · SingleFamily public records

Built 1959 Est $209k · 13% under

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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).

• ARV discount +13.2/15.0
• Cash flow +9.7/30.0
• Schools +5.6/10.0
• Livability +3.5/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This 1898 square foot single family home has 4 bedrooms and 1.0 bathrooms. This home is located at 875 W Graceway Dr, Napoleon, OH 43545.

Key facts

• Built 1959

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (26.5% below list).
• Recommended offer: $134k (26.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.8% in Napoleon — 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 70/100 on livability (#484 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Napoleon Area City (town): math 62% / reading 69% proficiency, ranked #208 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Napoleon Elementary School (math 75% / reading 74%, grade A, #272 of 1,584 statewide, top 19%, 975 students, 37% FRL); Napoleon Elementary School (math 75% / reading 74%, grade A, #272 of 1,584 statewide, top 19%, 975 students, 37% FRL); Napoleon Junior/Senior High School (math 49% / reading 64%, grade C, #291 of 781 statewide, top 37%, 787 students, 30% FRL).
• Market conditions: 46 active listings in the ZIP; solid renter incomes; 18 units permitted in Henry 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 $5k of value loss. Plan a longer hold.
• Henry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $23k; list at $182k implies a 698% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,847 (26.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $208,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
948 Daggett Dr	0.19mi	3/2.0	1,852 (-2%)	8mo	$176,800	$95	76
907 Huddle Rd	0.31mi	3/2.0	1,747 (-8%)	2mo	$275,000	$157	66
228 Garden St	0.46mi	2/2.0 (-1)	2,010 (+6%)	1mo	$240,000	$119	59
701 S Perry St	0.42mi	3/1.0	1,660 (-12%)	7mo	$182,500	$110	54
700 W Maumee Ave	0.20mi	3/2.0	2,104 (+11%)	17mo	$220,000	$105	54
214 Meekison St	0.60mi	3/2.0	1,850 (-2%)	12mo	$200,000	$108	54
131 Meekison St	0.55mi	4/2.5 (+1)	1,719 (-9%)	3mo	$160,000	$93	45
503 Appian Ave	0.73mi	3/1.5	1,639 (-14%)	2mo	$191,900	$117	40
432 W Clinton St	0.73mi	3/1.0	1,656 (-13%)	8mo	$140,000	$85	38
723 W Washington St	0.68mi	3/2.0	2,163 (+14%)	5mo	$168,000	$78	37
927 Park St	0.70mi	3/1.5	1,637 (-14%)	13mo	$195,000	$119	31
2 Park Ln	0.62mi	3/2.5	1,663 (-12%)	18mo	$278,000	$167	29

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: -21.0%
• Equity multiple: 0.27×
• Total profit: $-37,199
• Equity at exit: $27,167

10-year hold

• IRR: -14.5%
• Equity multiple: 0.17×
• Total profit: $-42,358
• Equity at exit: $15,753

Cash invested: $51,016 (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 43545

• Home prices YoY: -19.6%
• Active inventory: 46
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,338 medium
• Mortgage (P&I): −$955
• Tax from tax record: −$146 /mo · $1,752/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-120

Break-even live

Break-even rent $1,490

Max offer price $160,996

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-68	+0% $-120	+5% $-172	+10% $-223
Rent	-10% $-226	-5% $-173	+0% $-120	+5% $-67	+10% $-14
Rate	-1.0pp $-28	-0.5pp $-74	base $-120	+0.5pp $-167	+1.0pp $-215

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: $45,550
• Closing costs: $5,466
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-09
   remarks 137-char remark
2. 2026-06-09
   listed $182,200 Under Contract

ⓘ 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: $1,752 · $146/mo
• Projected year-2 tax: $2,297 · $191/mo
• Expected delta: +$545/yr (+$45/mo · 31.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 17 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: $16,062
• − Mortgage interest: −$10,206
• − Property taxes: −$1,752
• − Insurance: −$911
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$5,300
• Taxable loss: −$4,678
• Est. tax savings @ 24.0%: +$1,123
• After-tax cash flow: $-318/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: Napoleon Area City
• NCES district ID: 3904443
• Math proficiency: 62% ▼ -14.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $49,144
• Composite: 55.53/100
• National rank: #1243
• State rank: #208 of 656 in OH

Livability — Napoleon

• Score: 70/100
• State rank: #484
• US rank: #8082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Napoleon, OH
• County: Henry · 27,211 people
• City population: 14,388
• Population (ZIP): 14,388
• Household income: $78,165
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 4.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 27,204 people
• By 2030: 26,657 · -2.0%
• By 2040: 25,149 · -7.6%
• By 2050: 23,361 · -14.1%
• By 2075: 20,409 · -25.0%
• By 2100: 18,199 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+46.7) · D 26.2% · R 72.9%
• 2008→2024 swing: -33.8pp toward R · 2008: -12.9pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+43.5 2016: R+39.8 2012: R+18.6 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.90%
• Current HPI: 212.3599
• 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

+296.1% since first listed

3 events — show timeline

• 2026-06-10 Listed $182,200 FSBO.com
• 1993-06-24 Sold (Public Records) $22,835 Public Records
• 1991-04-19 Sold (Public Records) $46,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,752 · -0.9% YoY. Source: county tax records.