424 W 1st St · Springfield, OH 45504

$151,000

2 bd · 1.0 ba · 1,436 sqft · SingleFamily public records · 15 Days on market

Built 1967 $105/sqft · 13% below area Est $174k · 13% under ↓ 20% since listing

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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 +13.4/15.0
• Cash flow +8.5/30.0
• Livability +2.8/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

VERY NICE LOT WITH DECK OUT BACK. NEWER WINDOWS AND VINYL SIDING. UPDATED ELECTRIC & NEWER CARPET. CONVENIENTLY LOCATED.

Key facts

• Built 1967
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $151k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (23.7% below list).
• Recommended offer: $115k (23.7% below list) — sets the bar for 1% rule.

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: 93 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 232 units permitted in Clark County in 2024 (116 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.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask is 116% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $69k; list at $151k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $115,139 (23.7% 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 1967 — 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. 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?
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: 0.76% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $173,595
• List price: $151,000
• Delta: -13.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 W 1st St	0.07mi	3/1.0 (+1)	1,362 (-5%)	1mo	$160,000	$117	83
624 Snowhill Blvd	0.21mi	3/2.0 (+1)	1,492 (+4%)	7mo	$217,000	$145	69
716 W Second St	0.32mi	3/1.0 (+1)	1,345 (-6%)	4mo	$180,000	$134	66
720 W Harding Rd	0.51mi	3/2.0 (+1)	1,426 (-1%)	3mo	$231,000	$162	64
260 Glendale Dr	0.25mi	3/2.5 (+1)	1,373 (-4%)	8mo	$270,000	$197	64
607 N Tanglewood Dr	0.29mi	3/1.5 (+1)	1,550 (+8%)	7mo	$255,000	$165	60
1330 Garfield Ave	0.53mi	3/2.0 (+1)	1,381 (-4%)	2mo	$227,500	$165	58
827 Snowhill Blvd	0.40mi	2/1.0	1,240 (-14%)	2mo	$195,900	$158	57
264 S Broadmoor Blvd	0.71mi	3/1.5 (+1)	1,416 (-1%)	2mo	$274,900	$194	56
311 Dover Rd	0.60mi	3/1.0 (+1)	1,248 (-13%)	7mo	$154,000	$123	39
110 E Madison Ave	0.72mi	3/1.0 (+1)	1,602 (+12%)	8mo	$80,000	$50	36
259 N Broadmoor Blvd	0.74mi	3/2.0 (+1)	1,612 (+12%)	7mo	$275,000	$171	30

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: -22.7%
• Equity multiple: 0.22×
• Total profit: $-32,966
• Equity at exit: $22,515

10-year hold

• IRR: -16.9%
• Equity multiple: 0.06×
• Total profit: $-39,600
• Equity at exit: $13,056

Cash invested: $42,280 (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 45504

• Active inventory: 93
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$792
• Tax from tax record: −$189 /mo · $2,262/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-134

Break-even live

Break-even rent $1,321

Max offer price $127,384

Occupancy floor —

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: $37,750
• Closing costs: $4,530
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	3d	1	0.79mi
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	2d	1	0.93mi
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	3d	1	1.09mi
147 S Shaffer St Springfield, OH	1.0	1.0	900	$875	$0.97	19d	1	1.32mi

Listing history 8 events

1. 2026-05-12
   listed $151,000 Active 146-char remark
2. 2016-11-04
   historical
3. 2009-10-29
   soldstatus $68,900
4. 2009-10-27
   soldstatus $68,900

   Show marketing remark (124 chars)

   VERY NICE LOT WITH DECK OUT BACK. NEWER WINDOWS AND VINYL SIDING. UPDATED ELECTRIC & NEWER CARPET. CONVENIENTLY LOCATED.

5. 2009-09-12
   listed $69,900

   Show marketing remark (124 chars)

   VERY NICE LOT WITH DECK OUT BACK. NEWER WINDOWS AND VINYL SIDING. UPDATED ELECTRIC & NEWER CARPET. CONVENIENTLY LOCATED.

6. 2007-04-06
   historical
7. 2006-10-16
   listed $86,500
8. 2006-10-06
   listed $86,500

ⓘ 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: $2,262 · $189/mo
• Projected year-2 tax: $2,309 · $192/mo
• Expected delta: +$47/yr (+$4/mo · 2.1%)

ⓘ 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 ≥100°F today · 18 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,817
• − Mortgage interest: −$8,458
• − Property taxes: −$2,262
• − Insurance: −$755
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$4,393
• Taxable loss: −$4,262
• Est. tax savings @ 24.0%: +$1,023
• After-tax cash flow: $-581/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 · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 16,654
• Household income: $67,334
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 6.4

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: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -138.72%
• Current HPI: 240.7049
• 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

-20.3% since first listed

7 events — show timeline

• 2016-11-04 Listing Removed — WRIST
• 2009-10-29 Sold (Public Records) $68,900 Public Records
• 2009-10-27 Sold (MLS) $68,900 WRIST
• 2009-09-12 Listed $69,900 WRIST
• 2007-04-06 Listing Removed — WRIST
• 2006-10-16 Listed $86,500 WRIST
• 2006-10-06 Listed $86,500 WRIST

Property tax history

+2.3%/yr

Latest (2025): $2,262 · +29.5% YoY. Source: county tax records.