406 Sherman Pl · Mansfield, OH 44903

$100,000

3 bd · 1.0 ba · 1,596 sqft · SingleFamily public records · 30 Days on market

Built 1915 Est $139k · 28% under

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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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Maintained rental property with 1,596 sq ft plus full basement with the potential to easily convert an additional finished space into a fourth bedroom to suit your needs. Gas log fireplace, double-pane windows, and new appliances added in 2025. Open deck and covered porch. Property is being made Metro-approved. Tenant in place at $1,125/mo great for immediate income. Clean , solid, and conveniently located. Due to a tenant being in place, we will be offering an open house in place of showings.

Key facts

• Covered porch
• Open deck
• Full basement

Tags

• FULL BASEMENT
• GAS LOG FIREPLACE
• DOUBLE-PANE WINDOWS
• NEW APPLIANCES
• OPEN DECK
• COVERED PORCH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction
• Exterior features: Composition roof

Interior

• Kitchen: Refrigerator; Oven; Range
• Bathrooms: 1 full bathroom
• Interior features: Gas log fireplace (one); Full basement
• Laundry & utility: Laundry in basement; Gas water heater

🏷️ Possibly a rental listed for sale. The $100,000 price doesn't fit this home's estimated sale value (~$138,852) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.2% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $100k implies a 1150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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. 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?
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: 1.07% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $138,852
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
568 Garfield Pl	0.31mi	4/1.0 (+1)	1,613 (+1%)	1mo	$140,000	$87	78
212 Penn Ave	0.21mi	4/2.0 (+1)	1,655 (+4%)	3mo	$121,000	$73	73
220 Atcheson Ave	0.24mi	3/1.0	1,408 (-12%)	1mo	$132,500	$94	68
282 W 5th St	0.29mi	3/2.0	1,480 (-7%)	5mo	$85,000	$57	66
114 Vennum Ave	0.41mi	4/1.0 (+1)	1,724 (+8%)	4mo	$50,000	$29	59
108 S Stewart Ave	0.53mi	3/1.0	1,404 (-12%)	1mo	$85,000	$61	55
31 Parkwood Blvd	0.52mi	3/1.0	1,387 (-13%)	2mo	$170,000	$123	52
78 Glenwood Blvd	0.54mi	4/1.5 (+1)	1,756 (+10%)	4mo	$224,900	$128	48
189 Westwood Ave	0.65mi	3/2.0	1,752 (+10%)	3mo	$169,000	$96	47
175 Bennet St	0.66mi	3/1.0	1,425 (-11%)	5mo	$119,900	$84	47
487 Davey Ave	0.67mi	3/1.0	1,408 (-12%)	4mo	$136,000	$97	46
282 Vennum Ave	0.73mi	3/1.5	1,416 (-11%)	3mo	$94,000	$66	42

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,277
• Equity at exit: $14,910

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $13,760
• Equity at exit: $8,646

Cash invested: $28,000 (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 44903

• Home prices YoY: -27.7%
• Active inventory: 122
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $203

Break-even live

Break-even rent $817

Max offer price $100,000

Occupancy floor 76%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
243 W 1st St Mansfield, OH	4.0	1.0	1470	$1,195	$0.81	43d	1	0.48mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	43d	1	0.91mi
640 King St Mansfield, OH	1.0–3.0	1.0	938	$1,100	$1.17	43d	11	0.95mi
147 Ford St Mansfield, OH	3.0	1.5	1286	$995	$0.77	43d	1	1.36mi

Listing history 43 events

1. 2026-06-19
   days on market $100,000 Active 30 DOM
2. 2026-06-18
   days on market $100,000 Active 29 DOM
3. 2026-06-17
   days on market $100,000 Active 28 DOM
4. 2026-06-17
   remarks 498-char remark
5. 2026-06-17
   price $100,000 Active 27 DOM
6. 2026-06-16
   days on market $110,000 Active 27 DOM
7. 2026-06-15
   days on market $110,000 Active 26 DOM
8. 2026-06-14
   days on market $110,000 Active 24 DOM
9. 2026-06-12
   days on market $110,000 Active 23 DOM
10. 2026-06-09
    days on market $110,000 Active 20 DOM
11. 2026-06-08
    days on market $110,000 Active 19 DOM
12. 2026-06-07
    days on market $110,000 Active 18 DOM
13. 2026-06-05
    days on market $110,000 Active 15 DOM
14. 2026-06-03
    days on market $110,000 Active 14 DOM
15. 2026-06-02
    days on market $110,000 Active 13 DOM
16. 2026-06-01
    days on market $110,000 Active 12 DOM
17. 2026-05-31
    days on market $110,000 Active 11 DOM
18. 2026-05-30
    days on market $110,000 Active 10 DOM
19. 2026-05-20
    listed $115,000 Active
20. 2025-12-11
    historical $1,125
21. 2025-10-25
    listed $1,125
22. 2025-09-22
    price $84,900
23. 2025-08-08
    price $70,000
24. 2025-07-30
    price $72,000
25. 2025-07-09
    price $76,000
26. 2025-06-16
    price $79,900
27. 2025-06-05
    listed $85,900 Active
28. 2025-05-04
    historical $910
29. 2025-04-12
    listed $910
30. 2025-04-01
    status Active
31. 2025-03-06
    status Pending
32. 2025-03-01
    price $79,900
33. 2025-02-05
    price $84,900
34. 2024-12-20
    listed $90,000 Active
35. 2023-09-06
    status Active
36. 2023-08-10
    historical
37. 2023-08-01
    listed $65,000 Active
38. 2016-05-02
    soldstatus $8,000
39. 2016-03-09
    listed $8,500
40. 2006-01-19
    soldstatus $47,000
41. 2004-12-01
    historical
42. 2004-06-25
    listed $49,900
43. 1992-04-30
    soldstatus $23,000

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,255 · $105/mo
• Expected delta: +$305/yr (+$25/mo · 32.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 17 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: $12,888
• − Mortgage interest: −$5,602
• − Property taxes: −$951
• − Insurance: −$500
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,909
• Taxable income: $865
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,230/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 26,804
• Household income: $65,421
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 9.5

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Black 9% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.50%
• Current HPI: 241.9342
• 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

+400.0% since first listed

25 events — show timeline

• 2026-05-20 Listed $115,000 MARMLS
• 2025-12-11 Rental Removed $1,125 APPFOLIO
• 2025-10-25 Listed for Rent $1,125 APPFOLIO
• 2025-09-22 Price Changed $84,900 MARMLS
• 2025-08-08 Price Changed $70,000 MARMLS
• 2025-07-30 Price Changed $72,000 MARMLS
• 2025-07-09 Price Changed $76,000 MARMLS
• 2025-06-16 Price Changed $79,900 MARMLS
• 2025-06-05 Listed $85,900 MARMLS
• 2025-05-04 Rental Removed $910 APPFOLIO
• 2025-04-12 Listed for Rent $910 APPFOLIO
• 2025-04-01 Relisted — MARMLS
• 2025-03-06 Pending — MARMLS
• 2025-03-01 Price Changed $79,900 MARMLS
• 2025-02-05 Price Changed $84,900 MARMLS
• 2024-12-20 Listed $90,000 MARMLS
• 2023-09-06 Relisted — MARMLS
• 2023-08-10 Delisted — MARMLS
• 2023-08-01 Listed $65,000 MARMLS
• 2016-05-02 Sold (MLS) $8,000 MARMLS
• 2016-03-09 Listed $8,500 MARMLS
• 2006-01-19 Sold (Public Records) $47,000 Public Records
• 2004-12-01 Listing Removed — CBRMLS
• 2004-06-25 Listed $49,900 CBRMLS
• 1992-04-30 Sold (Public Records) $23,000 Public Records

Property tax history

+23.3%/yr

Latest (2025): $951 · +0.0% YoY. Source: county tax records.