1355 S Fountain Ave · Springfield, OH 45506

$70,000

4 bd · 2.0 ba · 3,144 sqft · SingleFamily public records · 6 Days on market

Built 1905 0.32 ac 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

Key facts

• 0.32 acre lot
• Garage
• Built 1905

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $868 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 21.2% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $1,711/mo this rent would consume 49% of the median local household income ($42k/yr) (locally 684% of renters already pay >50% of income on rent) — 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1905 — 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 F 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: 2.44% ✓
• Cap rate: 21.17%
• Cash-on-cash: 53.14%
• DSCR: 3.36
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $191,784
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1019 S Limestone St	0.25mi	3/2.5 (-1)	3,364 (+7%)	8mo	$206,000	$61	63
738 S Center St	0.44mi	5/2.0 (+1)	3,260 (+4%)	8mo	$134,800	$41	62

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: 51.2%
• Equity multiple: 3.24×
• Total profit: $43,965
• Equity at exit: $10,437

10-year hold

• IRR: 56.6%
• Equity multiple: 6.59×
• Total profit: $109,573
• Equity at exit: $6,052

Cash invested: $19,600 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,711 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $868

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 44%

Sensitivity live

Price	-10% $916	-5% $892	+0% $868	+5% $844	+10% $820
Rent	-10% $733	-5% $800	+0% $868	+5% $936	+10% $1,003
Rate	-1.0pp $903	-0.5pp $886	base $868	+0.5pp $850	+1.0pp $831

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	44d	1	0.76mi

Listing history 38 events

1. 2024-12-09
   status Pending
2. 2024-12-02
   status Pending
3. 2023-10-17
   historical
4. 2023-10-16
   status Pending 729-char remark

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

5. 2023-10-16
   status Pending

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

6. 2023-10-16
   status Pending

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

7. 2023-10-10
   listed $70,000 Active

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

8. 2023-10-10
   listed $70,000 Active

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

9. 2023-10-10
   listed $70,000 Active 729-char remark

   Show marketing remark (729 chars)

   THE REALTOR IS THE RECEIVER APPOINTED BY THE CLARK COUNTY PROBATE COURT. This vacant historical property presents TWO HOMES and a garage offering a unique opportunity for potential buyers or investors seeking versatile living arrangements, rental income potential, or the ability to accommodate multiple households on a single lot. The main property is 3144 sq. ft., and the brick mother-in-law suite is 1073 sq. ft. These properties provide a solid foundation for customization and personalization according to the new owner's preferences. Due to the court approval process, this is not a quick close. The Receiver requests that all buyers be represented and requests for in-state buyers only. **SEE AGENT TO AGENT REMARKS**

10. 2023-10-02
    historical
11. 2023-10-02
    historical
12. 2023-10-02
    historical
13. 2023-09-11
    price $70,000
14. 2023-09-11
    price $70,000
15. 2023-09-11
    price $70,000
16. 2023-09-05
    price $85,000
17. 2023-09-05
    price $85,000
18. 2023-09-05
    price $85,000
19. 2023-08-28
    price $90,000
20. 2023-08-28
    price $90,000
21. 2023-08-28
    price $90,000
22. 2023-08-14
    price $110,000
23. 2023-08-14
    price $110,000
24. 2023-08-14
    price $110,000
25. 2023-08-01
    price $119,900
26. 2023-08-01
    price $119,900
27. 2023-08-01
    price $119,900
28. 2023-07-24
    price $125,000
29. 2023-07-24
    price $125,000
30. 2023-07-24
    price $125,000
31. 2023-07-19
    price $149,000
32. 2023-07-19
    price $149,000
33. 2023-07-19
    price $149,000
34. 2023-07-06
    listed $159,000 Active
35. 2023-07-06
    listed $159,000 Active
36. 2023-07-06
    listed $159,000 Active
37. 2001-05-29
    soldstatus $75,000
38. 1997-09-08
    soldstatus $55,000

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,533
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$2,036
• Taxable income: $9,890
• Est. tax owed @ 24.0%: −$2,374
• After-tax cash flow: $8,042/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.97%
• Current HPI: 286.2883
• Rent YoY: —
• Metro: Springfield, OH
• 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

+27.3% since first listed

38 events — show timeline

• 2024-12-09 Pending — Dayton MLS
• 2024-12-02 Pending — CBRMLS
• 2023-10-17 Listing Removed — Dayton MLS
• 2023-10-16 Pending — WRIST
• 2023-10-16 Pending — Dayton MLS
• 2023-10-16 Pending — CBRMLS
• 2023-10-10 Listed $70,000 WRIST
• 2023-10-10 Listed $70,000 CBRMLS
• 2023-10-10 Listed $70,000 Dayton MLS
• 2023-10-02 Listing Removed — Dayton MLS
• 2023-10-02 Listing Removed — WRIST
• 2023-10-02 Listing Removed — CBRMLS
• 2023-09-11 Price Changed $70,000 Dayton MLS
• 2023-09-11 Price Changed $70,000 CBRMLS
• 2023-09-11 Price Changed $70,000 WRIST
• 2023-09-05 Price Changed $85,000 Dayton MLS
• 2023-09-05 Price Changed $85,000 CBRMLS
• 2023-09-05 Price Changed $85,000 WRIST
• 2023-08-28 Price Changed $90,000 Dayton MLS
• 2023-08-28 Price Changed $90,000 CBRMLS
• 2023-08-28 Price Changed $90,000 WRIST
• 2023-08-14 Price Changed $110,000 Dayton MLS
• 2023-08-14 Price Changed $110,000 CBRMLS
• 2023-08-14 Price Changed $110,000 WRIST
• 2023-08-01 Price Changed $119,900 Dayton MLS
• 2023-08-01 Price Changed $119,900 CBRMLS
• 2023-08-01 Price Changed $119,900 WRIST
• 2023-07-24 Price Changed $125,000 Dayton MLS
• 2023-07-24 Price Changed $125,000 CBRMLS
• 2023-07-24 Price Changed $125,000 WRIST
• 2023-07-19 Price Changed $149,000 Dayton MLS
• 2023-07-19 Price Changed $149,000 CBRMLS
• 2023-07-19 Price Changed $149,000 WRIST
• 2023-07-06 Listed $159,000 WRIST
• 2023-07-06 Listed $159,000 Dayton MLS
• 2023-07-06 Listed $159,000 CBRMLS
• 2001-05-29 Sold (Public Records) $75,000 Public Records
• 1997-09-08 Sold (Public Records) $55,000 Public Records

Property tax history

+34.3%/yr

Latest (2025): $22,649 · +16.3% YoY. Source: county tax records.