104 Main St · Sinking Spring, OH 45172

$120,000

4 bd · 2.5 ba · 3,868 sqft · SingleFamily · 91 Days on market

Built 1920 Fair condition 0.45 ac lot

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Offering a historic building in Sinking Spring, plus a vacant lot across 124. The building was originally built as a Masonic Lodge. The current owner took on another project and it's ready for its next story! Put on your creative cap and make it your own. Could be commercial, residential, or a combination of both. Main level features 14 ft ceilings with fans, many windows, 41 x 23 great room, pass thru to kitchen, 1.5 baths, and laundry room. There are front, back and side entries as well as front and back stairways to second level. The second level has a large family room, 3+ bedrooms, a shower and toilet stalls. The septic system has recently been upgraded and certified by Highland County Health Dept. The friendly village of Sinking Spring is close to many activities, including Fort Hill, Longs Retreat, Paint Creek and Rocky Fork Lake.

Key facts

• Large family room
• Historic building
• 14 ft ceilings

Tags

• HISTORIC BUILDING
• 14 FT CEILINGS
• GREAT ROOM
• FRONT BACK SIDE ENTRIES
• FRONT BACK STAIRWAYS
• LARGE FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#805 in OH) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Adams County Ohio Valley Local (rural): math 48% / reading 51% proficiency, ranked #463 of 656 in OH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; solid renter incomes; 20 units permitted in Highland County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($105k/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 $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Highland County population projected at -21% 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.33%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.98×
• Total profit: $32,891
• Equity at exit: $53,957

10-year hold

• IRR: 18.7%
• Equity multiple: 3.72×
• Total profit: $91,331
• Equity at exit: $83,154

Cash invested: $33,600 (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 45172

• Active inventory: 1
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $289

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 75%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $120,000 Active 91 DOM
2. 2026-06-17
   days on market $120,000 Active 90 DOM
3. 2026-06-16
   days on market $120,000 Active 89 DOM
4. 2026-06-15
   days on market $120,000 Active 88 DOM
5. 2026-06-13
   days on market $120,000 Active 86 DOM
6. 2026-06-12
   days on market $120,000 Active 85 DOM
7. 2026-06-09
   days on market $120,000 Active 82 DOM
8. 2026-06-08
   days on market $120,000 Active 81 DOM
9. 2026-06-07
   days on market $120,000 Active 80 DOM
10. 2026-06-05
    days on market $120,000 Active 78 DOM
11. 2026-06-04
    days on market $120,000 Active 76 DOM
12. 2026-06-02
    days on market $120,000 Active 75 DOM
13. 2026-06-01
    days on market $120,000 Active 74 DOM
14. 2026-05-31
    days on market $120,000 Active 73 DOM
15. 2026-03-17
    listed $120,000 Active 849-char remark

    Show marketing remark (849 chars)

    Offering a historic building in Sinking Spring, plus a vacant lot across 124. The building was originally built as a Masonic Lodge. The current owner took on another project and it's ready for its next story! Put on your creative cap and make it your own. Could be commercial, residential, or a combination of both. Main level features 14 ft ceilings with fans, many windows, 41 x 23 great room, pass thru to kitchen, 1.5 baths, and laundry room. There are front, back and side entries as well as front and back stairways to second level. The second level has a large family room, 3+ bedrooms, a shower and toilet stalls. The septic system has recently been upgraded and certified by Highland County Health Dept. The friendly village of Sinking Spring is close to many activities, including Fort Hill, Longs Retreat, Paint Creek and Rocky Fork Lake.

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,989
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$3,491
• Taxable income: $1,658
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $3,072/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This historic building requires moderate renovations to update the kitchen and bathrooms, paint interior walls, and replace linoleum flooring. Upgrades will significantly improve its resale and rental value.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Moderate HVAC system — basic systems, may need upgrade

Value-add opportunities

• Resale update kitchen appliances — modern appliances increase appeal
• Resale update bathroom fixtures — modern fixtures increase appeal
• Both paint interior walls — fresh paint improves appearance
• Both replace linoleum flooring — new flooring improves appearance and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
HVAC system · basic systems, may need upgrade	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Resale update kitchen appliances — modern appliances increase appeal ↑
• Resale update bathroom fixtures — modern fixtures increase appeal ↑
• Both paint interior walls — fresh paint improves appearance ↑
• Both replace linoleum flooring — new flooring improves appearance and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Adams County Ohio Valley Local
• NCES district ID: 3906190
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $35,314
• Composite: 40.96/100
• National rank: #3603
• State rank: #463 of 656 in OH

Livability — Sinking Spring

• Score: 64/100
• State rank: #805
• US rank: #14824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sinking Spring, OH
• County: Highland · 42,279 people
• City population: 419
• Population (ZIP): 419
• Household income: $105,368
• Rent vs Own: 2.3% rent · 97.7% own

Population outlook (Highland County) Hauer SSP2

• Today (2025): 41,165 people
• By 2030: 39,726 · -3.5%
• By 2040: 36,377 · -11.6%
• By 2050: 32,572 · -20.9%
• By 2075: 23,690 · -42.5%
• By 2100: 16,220 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 12%
• Common ancestry: Romanian 5% Slovak 2% Iranian 1%
• Languages at home: 97% English-only · German/W. Germanic 3%

Political lean MEDSL · Highland

• 2024 margin: Solid R (+63.4) · D 18.1% · R 81.4%
• 2008→2024 swing: -37.0pp toward R · 2008: -26.3pp · 2024: -63.4pp
• All cycles: 2024: R+63.4 2020: R+60.4 2016: R+56.1 2012: R+30.7 2008: R+26.3

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

1 event — show timeline

• 2026-03-17 Listed $120,000 Cincy MLS