600 E Somers St · Eaton, OH 45320

$99,000

2 bd · 2.0 ba · 1,314 sqft · MultiFamily public records · 48 Days on market

Built 1890 9,702 sqft lot $75/sqft · 36% below area Est $155k · 36% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Schools +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

Key facts

• Steady cash flow
• Huge backyard
• 9,702 sq ft lot

Tags

• HUGE BACKYARD
• SEPARATE ELECTRIC METERS
• STEADY CASH FLOW

🏷️ Possibly a rental listed for sale. The $99,000 price doesn't fit this home's estimated sale value (~$154,549) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 2.2% in Eaton — 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 78/100 on livability (#180 in OH, #2,768 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Eaton Community City (town): math 67% / reading 68% proficiency, ranked #184 of 656 in OH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 88 active listings in the ZIP; 55 units permitted in Preble County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $99k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 A-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. 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 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: 1.48% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.75%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $154,549
• List price: $99,000
• Delta: -35.94%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 E Somers St	0.00mi	2/2.0	1,314 (0%)	1mo	$84,000	$64	99

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: 15.6%
• Equity multiple: 1.63×
• Total profit: $17,424
• Equity at exit: $14,761

10-year hold

• IRR: 24.3%
• Equity multiple: 3.10×
• Total profit: $58,239
• Equity at exit: $8,560

Cash invested: $27,720 (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 45320

• Home prices YoY: -29.4%
• Active inventory: 88
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,466 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$72 /mo · $865/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $526

Break-even live

Break-even rent $801

Max offer price $99,000

Occupancy floor 59%

Sensitivity live

Price	-10% $582	-5% $554	+0% $526	+5% $498	+10% $470
Rent	-10% $410	-5% $468	+0% $526	+5% $584	+10% $641
Rate	-1.0pp $575	-0.5pp $551	base $526	+0.5pp $500	+1.0pp $474

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,466
Total (2 units)			$1,466

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-13
   status Pending 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

2. 2026-05-05
   price $99,000 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

3. 2026-04-27
   status Active 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

4. 2026-04-10
   status Pending 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

5. 2026-03-31
   price $103,000 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

6. 2026-03-16
   price $108,000 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

7. 2026-03-09
   listed $115,000 Active 452-char remark

   Show marketing remark (452 chars)

   Great investment opportunity with this small multi-family property featuring a 1-bedroom, 1-bath apartment on each side. The property offers a huge backyard and separate electric meters for each unit, while the current owner covers the water. Both units are occupied by long-term tenants who would like to stay, currently generating a total of $1,000 per month in rental income. This property provides steady cash flow with potential for future upside.

8. 2023-06-28
   soldstatus $62,500
9. 2011-05-01
   historical
10. 2010-12-31
    historical
11. 2010-07-28
    listed $45,000
12. 2010-05-02
    listed $49,900
13. 2007-07-12
    historical
14. 2007-04-11
    listed $75,900
15. 2000-07-28
    soldstatus $30,000
16. 1995-04-24
    soldstatus $20,000
17. 1986-09-05
    soldstatus $17,000

ⓘ 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: $865 · $72/mo
• Projected year-2 tax: $1,205 · $100/mo
• Expected delta: +$339/yr (+$28/mo · 39.2%)

ⓘ 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 ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,592
• − Mortgage interest: −$5,546
• − Property taxes: −$865
• − Insurance: −$495
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$2,880
• Taxable income: $4,991
• Est. tax owed @ 24.0%: −$1,198
• After-tax cash flow: $5,109/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: Eaton Community City
• NCES district ID: 3904393
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 68% ▼ -5.00%
• Median HH income: $46,677
• Composite: 56.98/100
• National rank: #1108
• State rank: #184 of 656 in OH

Livability — Eaton

• Score: 78/100
• State rank: #180
• US rank: #2768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eaton, OH
• County: Preble · 42,634 people
• Population (ZIP): 15,402
• Household income: $68,740
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 16.4

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 3%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Tagalog/Filipino 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: ▼ -91.15%
• Current HPI: 218.4233
• 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

+482.4% since first listed

17 events — show timeline

• 2026-05-13 Pending — Dayton MLS
• 2026-05-05 Price Changed $99,000 Dayton MLS
• 2026-04-27 Relisted — Dayton MLS
• 2026-04-10 Pending — Dayton MLS
• 2026-03-31 Price Changed $103,000 Dayton MLS
• 2026-03-16 Price Changed $108,000 Dayton MLS
• 2026-03-09 Listed $115,000 Dayton MLS
• 2023-06-28 Sold (Public Records) $62,500 Public Records
• 2011-05-01 Listing Removed — Dayton MLS
• 2010-12-31 Listing Removed — Dayton MLS
• 2010-07-28 Listed $45,000 Dayton MLS
• 2010-05-02 Listed $49,900 Dayton MLS
• 2007-07-12 Listing Removed — Cincy MLS
• 2007-04-11 Listed $75,900 Cincy MLS
• 2000-07-28 Sold (Public Records) $30,000 Public Records
• 1995-04-24 Sold (Public Records) $20,000 Public Records
• 1986-09-05 Sold (Public Records) $17,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $865 · +1.1% YoY. Source: county tax records.