825 Eastern Ave · Bellefontaine, OH 43311

$65,000

3 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 80 Days on market

Built 1920 0.30 ac lot $52/sqft · 70% below area ↓ 16% since listing

---

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
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover an unparalleled opportunity to craft your dream home or optimize your investment in Bellefontaine, where solid foundations meet limitless potential. This residence, spanning two stories with 1244 square feet of living space on a generous 0.3-acre lot, presents a blank canvas for investors, contractors, and renovation enthusiasts. With its structure taken down to the studs, it eagerly awaits a vision to transform its inherent character into a masterpiece, offering a substantial return on investment. The property previously featured three spacious bedrooms, two full baths, a comfortable living room, a distinct dining room, and a functional kitchen, ready to be reimagined. The expansive 50x236 lot provides ample space for creative landscaping or potential expansions, enhancing its appeal and value. A charming patio offers an outdoor retreat, perfect for relaxation or entertaining. Strategically located, this home boasts exceptional neighborhood appeal, placing downtown shopping, vibrant restaurants, and beautiful parks within easy walking distance. This prime location ensures a lifestyle of convenience and community engagement. Envision the possibilities and seize the chance to restore and revitalize this promising address into a cherished home.

Key facts

• Expansive lot
• Blank canvas
• Vibrant restaurants

Tags

• SOLID FOUNDATIONS
• BLANK CANVAS
• EXPANSIVE LOT
• REAR DECK
• PROXIMITY TO DOWNTOWN SHOPPING
• VIBRANT RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 3.7% in Bellefontaine — 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 (#213 in OH, #3,316 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Bellefontaine City (town): math 55% / reading 59% proficiency, ranked #348 of 656 in OH (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 152 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Logan County population projected at -15% 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 30% 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.91% ✓
• Cap rate: 15.68%
• Cash-on-cash: 33.53%
• DSCR: 2.49
• GRM: 4.4

CMA / ARV

• ARV (median comp): $217,266
• List price: $65,000
• Delta: -70.08%
• 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
113 Pleasant Dr	0.15mi	3/1.5	1,196 (-4%)	7mo	$210,000	$176	79
104 Organ St	0.20mi	3/2.0	1,336 (+7%)	6mo	$280,000	$210	69
552 Cooper Ave	0.46mi	2/1.0 (-1)	1,339 (+8%)	8mo	$206,000	$154	54
1441 County Road 10	0.43mi	2/1.0 (-1)	1,340 (+8%)	10mo	$245,000	$183	54
780 E Sandusky Ave	0.57mi	3/2.0	1,326 (+7%)	6mo	$240,000	$181	53
813 Cooper Ave	0.19mi	2/1.5 (-1)	1,430 (+15%)	7mo	$239,900	$168	53
437 Washington Ave	0.68mi	3/1.0	1,182 (-5%)	10mo	$189,900	$161	51
313 Ludlow Rd	0.56mi	3/1.0	1,111 (-11%)	8mo	$190,000	$171	50
313 E Auburn Ave	0.73mi	2/1.0 (-1)	1,184 (-5%)	12mo	$175,000	$148	43
315 Linden St	0.63mi	2/1.0 (-1)	1,082 (-13%)	4mo	$199,000	$184	41
332 E Auburn Ave	0.69mi	4/1.0 (+1)	1,424 (+14%)	4mo	$225,000	$158	35
132 N Stanley St	0.64mi	3/2.0	1,426 (+15%)	9mo	$202,000	$142	35

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: 28.8%
• Equity multiple: 2.20×
• Total profit: $21,894
• Equity at exit: $9,692

10-year hold

• IRR: 36.2%
• Equity multiple: 4.35×
• Total profit: $60,913
• Equity at exit: $5,620

Cash invested: $18,200 (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 43311

• Active inventory: 152
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,243 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$105 /mo · $1,263/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $509

Break-even live

Break-even rent $599

Max offer price $65,000

Occupancy floor 54%

Sensitivity live

Price	-10% $545	-5% $527	+0% $509	+5% $490	+10% $472
Rent	-10% $410	-5% $460	+0% $509	+5% $558	+10% $607
Rate	-1.0pp $541	-0.5pp $525	base $509	+0.5pp $492	+1.0pp $475

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 S Main St Bellefontaine, OH	2.0	1.5	808	$1,349	$1.67	3d	1	1.01mi
904 N Main St Bellefontaine, OH	2.0	1.0	850	$1,171	$1.38	45d	1	1.43mi
904 N Main St Unit 5 Bellefontaine, OH	2.0	1.0	850	$1,171	$1.38	45d	1	1.43mi

Listing history 21 events

1. 2026-06-13
   status $65,000 Pending 80 DOM
2. 2026-06-12
   days on market $65,000 Active 80 DOM
3. 2026-06-09
   days on market $65,000 Active 77 DOM
4. 2026-06-08
   days on market $65,000 Active 76 DOM
5. 2026-06-07
   days on market $65,000 Active 75 DOM
6. 2026-06-07
   days on market $65,000 Active 74 DOM
7. 2026-06-04
   days on market $65,000 Active 71 DOM
8. 2026-06-02
   days on market $65,000 Active 70 DOM
9. 2026-06-01
   days on market $65,000 Active 69 DOM
10. 2026-05-31
    days on market $65,000 Active 68 DOM
11. 2026-05-02
    price $70,000 1271-char remark

    Show marketing remark (1311 chars)

    Discover an unparalleled opportunity to craft your dream home or optimize your investment in Bellefontaine, where solid foundations meet limitless potential. This residence, spanning two stories with 1244 square feet of living space on a generous 0.3-acre lot, presents a blank canvas for investors, contractors, and renovation enthusiasts. With its structure taken down to the studs, it eagerly awaits a vision to transform its inherent character into a masterpiece, offering a substantial return on investment. The property previously featured three spacious bedrooms, two full baths, a comfortable living room, a distinct dining room, and a functional kitchen, and is ready to be reimagined. The expansive 50x236 lot provides ample space for creative landscaping, gardening, or potential expansions, enhancing its appeal and value. A rear deck offers an outdoor retreat, perfect for relaxation or entertaining. Strategically located, this home boasts exceptional neighborhood appeal and in close proximity to downtown shopping, vibrant restaurants, and beautiful parks that are within easy walking distance. This prime location ensures a lifestyle of convenience and community engagement. Envision the possibilities and seize the chance to restore and revitalize this promising address into a cherished home.

12. 2026-05-02
    price $70,000 1311-char remark

    Show marketing remark (1311 chars)

    Discover an unparalleled opportunity to craft your dream home or optimize your investment in Bellefontaine, where solid foundations meet limitless potential. This residence, spanning two stories with 1244 square feet of living space on a generous 0.3-acre lot, presents a blank canvas for investors, contractors, and renovation enthusiasts. With its structure taken down to the studs, it eagerly awaits a vision to transform its inherent character into a masterpiece, offering a substantial return on investment. The property previously featured three spacious bedrooms, two full baths, a comfortable living room, a distinct dining room, and a functional kitchen, and is ready to be reimagined. The expansive 50x236 lot provides ample space for creative landscaping, gardening, or potential expansions, enhancing its appeal and value. A rear deck offers an outdoor retreat, perfect for relaxation or entertaining. Strategically located, this home boasts exceptional neighborhood appeal and in close proximity to downtown shopping, vibrant restaurants, and beautiful parks that are within easy walking distance. This prime location ensures a lifestyle of convenience and community engagement. Envision the possibilities and seize the chance to restore and revitalize this promising address into a cherished home.

13. 2026-03-24
    listed $75,000 Active 1271-char remark

    Show marketing remark (1311 chars)

    Discover an unparalleled opportunity to craft your dream home or optimize your investment in Bellefontaine, where solid foundations meet limitless potential. This residence, spanning two stories with 1244 square feet of living space on a generous 0.3-acre lot, presents a blank canvas for investors, contractors, and renovation enthusiasts. With its structure taken down to the studs, it eagerly awaits a vision to transform its inherent character into a masterpiece, offering a substantial return on investment. The property previously featured three spacious bedrooms, two full baths, a comfortable living room, a distinct dining room, and a functional kitchen, and is ready to be reimagined. The expansive 50x236 lot provides ample space for creative landscaping, gardening, or potential expansions, enhancing its appeal and value. A rear deck offers an outdoor retreat, perfect for relaxation or entertaining. Strategically located, this home boasts exceptional neighborhood appeal and in close proximity to downtown shopping, vibrant restaurants, and beautiful parks that are within easy walking distance. This prime location ensures a lifestyle of convenience and community engagement. Envision the possibilities and seize the chance to restore and revitalize this promising address into a cherished home.

14. 2026-03-24
    listed $75,000 Active 1311-char remark

    Show marketing remark (1311 chars)

    Discover an unparalleled opportunity to craft your dream home or optimize your investment in Bellefontaine, where solid foundations meet limitless potential. This residence, spanning two stories with 1244 square feet of living space on a generous 0.3-acre lot, presents a blank canvas for investors, contractors, and renovation enthusiasts. With its structure taken down to the studs, it eagerly awaits a vision to transform its inherent character into a masterpiece, offering a substantial return on investment. The property previously featured three spacious bedrooms, two full baths, a comfortable living room, a distinct dining room, and a functional kitchen, and is ready to be reimagined. The expansive 50x236 lot provides ample space for creative landscaping, gardening, or potential expansions, enhancing its appeal and value. A rear deck offers an outdoor retreat, perfect for relaxation or entertaining. Strategically located, this home boasts exceptional neighborhood appeal and in close proximity to downtown shopping, vibrant restaurants, and beautiful parks that are within easy walking distance. This prime location ensures a lifestyle of convenience and community engagement. Envision the possibilities and seize the chance to restore and revitalize this promising address into a cherished home.

15. 2024-07-12
    soldstatus $50,000 Closed
16. 2024-07-12
    soldstatus $50,000 Closed
17. 2024-07-02
    status Pending
18. 2024-07-01
    status Pending
19. 2024-06-27
    listed $54,500 Active
20. 2024-06-27
    listed $54,500 Active
21. 2002-05-06
    soldstatus $83,000

ⓘ 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: $1,263 · $105/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,913
• − Mortgage interest: −$3,641
• − Property taxes: −$1,263
• − Insurance: −$325
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$1,891
• Taxable income: $5,407
• Est. tax owed @ 24.0%: −$1,298
• After-tax cash flow: $4,805/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: Bellefontaine City
• NCES district ID: 3904358
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $43,270
• Composite: 47.94/100
• National rank: #2207
• State rank: #348 of 656 in OH

Livability — Bellefontaine

• Score: 76/100
• State rank: #213
• US rank: #3316

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellefontaine, OH
• County: Logan · 47,256 people
• City population: 20,074
• Population (ZIP): 20,074
• Household income: $64,217
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 10.1

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.18%
• Current HPI: 243.9954
• 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

-15.7% since first listed

11 events — show timeline

• 2026-05-02 Price Changed $70,000 Dayton MLS
• 2026-05-02 Price Changed $70,000 WRIST
• 2026-03-24 Listed $75,000 WRIST
• 2026-03-24 Listed $75,000 Dayton MLS
• 2024-07-12 Sold (MLS) $50,000 WRIST
• 2024-07-12 Sold (MLS) $50,000 CBRMLS
• 2024-07-02 Pending — CBRMLS
• 2024-07-01 Pending — WRIST
• 2024-06-27 Listed $54,500 WRIST
• 2024-06-27 Listed $54,500 CBRMLS
• 2002-05-06 Sold (Public Records) $83,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,263 · +31.9% YoY. Source: county tax records.