17 N 7th St · Newark, OH 43055

$109,900

3 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 34 Days on market

Built 1920 5,227 sqft lot Est $202k · 46% under ↓ 45% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 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: 2 units. confirmed

Listing remarks

Great opportunity to own this Newark duplex. One main front entrance, two separate interior doors. Perfect to add to any investors portfolio or live in one side and rent the other. AGENTS - See A2A remarks

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 34 days

Property features AI

Finance

• Other: Property listed as Real Estate Owned
• Financial info: 2025 annual taxes listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Built in 1920
• Construction: Wood-frame construction (typical for 1920 vintage)
• Exterior features: Lot approximately 0.12 acre

Interior

• Interior features: Duplex (two-unit building)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $625/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.9% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).
• At $2,482/mo this rent would consume 47% of the median local household income ($64k/yr) (locally 2269% 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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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 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: 2.26% ✓
• Cap rate: 19.95%
• Cash-on-cash: 48.77%
• DSCR: 3.17
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $201,960
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
273 W Locust St	0.30mi	4/— (+1)	1,946 (-5%)	7mo	$192,000	$99	67
242 W Main St	0.07mi	4/— (+1)	1,779 (-13%)	6mo	$125,000	$70	65
193 Central Ave	0.38mi	2/— (-1)	1,870 (-8%)	10mo	$240,000	$128	55

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 44.8%
• Equity multiple: 2.90×
• Total profit: $58,471
• Equity at exit: $16,386

10-year hold

• IRR: 50.1%
• Equity multiple: 5.55×
• Total profit: $140,030
• Equity at exit: $9,502

Cash invested: $30,772 (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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,482 high
• Mortgage (P&I): −$576
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,251

Break-even live

Break-even rent $899

Max offer price $109,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,313	-5% $1,282	+0% $1,251	+5% $1,219	+10% $1,188
Rent	-10% $1,054	-5% $1,153	+0% $1,251	+5% $1,349	+10% $1,447
Rate	-1.0pp $1,306	-0.5pp $1,278	base $1,251	+0.5pp $1,222	+1.0pp $1,193

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,482
Total (2 units)			$2,482

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 N 8th St Unit 2 Newark, OH	3.0	1.0	1400	$1,400	$1.00	24d	1	0.04mi
308 Wilson St Newark, OH	4.0	1.0	1508	$1,400	$0.93	24d	1	0.40mi
150 N 1st St Newark, OH	3.0	1.0	1467	$1,300	$0.89	18d	1	0.67mi
55 N Fulton Ave Newark, OH	4.0	1.0	1616	$1,525	$0.94	24d	1	0.72mi
27 N Buena Vista St Newark, OH	3.0	2.0	1500	$1,300	$0.87	12d	1	0.94mi
39 Charles St Newark, OH	3.0	1.5	1450	$1,649	$1.14	24d	1	1.18mi
5 Cottage St Newark, OH	3.0	2.0	1719	$1,649	$0.96	24d	1	1.41mi

Listing history 24 events

1. 2026-06-18
   days on market $109,900 Active 34 DOM
2. 2026-06-17
   pricedays on market $109,900 Active 33 DOM
3. 2026-06-16
   days on market $119,900 Active 32 DOM
4. 2026-06-15
   days on market $119,900 Active 31 DOM
5. 2026-06-13
   days on market $119,900 Active 29 DOM
6. 2026-06-13
   days on market $119,900 Active 28 DOM
7. 2026-06-09
   days on market $119,900 Active 25 DOM
8. 2026-06-08
   days on market $119,900 Active 24 DOM
9. 2026-06-07
   days on market $119,900 Active 23 DOM
10. 2026-06-05
    days on market $119,900 Active 20 DOM
11. 2026-06-03
    days on market $119,900 Active 19 DOM
12. 2026-06-02
    days on market $119,900 Active 18 DOM
13. 2026-06-01
    days on market $119,900 Active 17 DOM
14. 2026-05-31
    days on market $119,900 Active 16 DOM
15. 2026-05-15
    listed $119,900 Active
16. 2024-04-16
    historical Contingent Finance and Inspection
17. 2024-04-16
    historical
18. 2024-03-27
    status Active
19. 2024-02-01
    historical
20. 2023-10-31
    price $180,000
21. 2023-09-13
    listed $159,900 Active
22. 2022-03-18
    soldstatus $77,500
23. 1993-01-28
    soldstatus $80,000
24. 1991-03-15
    soldstatus $218,000

ⓘ 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: $1,057 · $88/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$329/yr (+$27/mo · 31.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 18 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,784
• − Mortgage interest: −$6,156
• − Property taxes: −$1,057
• − Insurance: −$550
• − Repairs & maintenance: −$2,383
• − Management: −$2,383
• − Depreciation: −$3,197
• Taxable income: $14,058
• Est. tax owed @ 24.0%: −$3,374
• After-tax cash flow: $11,632/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: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, 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

-45.0% since first listed

10 events — show timeline

• 2026-05-15 Listed $119,900 CBRMLS
• 2024-04-16 Contingent — CBRMLS
• 2024-04-16 Listing Removed — CBRMLS
• 2024-03-27 Relisted — CBRMLS
• 2024-02-01 Listing Removed — CBRMLS
• 2023-10-31 Price Changed $180,000 CBRMLS
• 2023-09-13 Listed $159,900 CBRMLS
• 2022-03-18 Sold (Public Records) $77,500 Public Records
• 1993-01-28 Sold (Public Records) $80,000 Public Records
• 1991-03-15 Sold (Public Records) $218,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,057 · -95.8% YoY. Source: county tax records.