926 Us Rt 224 · Sullivan, OH 44859

$178,000

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 30 Days on market

Built 1925 0.45 ac lot Est $132k · 34% over

---

Why this score? — see what drove the C 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 +23.2/30.0
• Appreciation +10.0/10.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

This two story home has had many of the major expense items recently replaced - New metal roof on dwelling in 2024 and new roof on garage replaced approximately 2020; new double hung windows in 2023; new furnace and central air in 2022 along with a new storm door on the side of the home * There are transferrable warranties available to a buyer on the furnace, A/C and windows * All natural woodwork throughout and even a pocket door between the dining room and living room! * Oversized two car garage with concrete floor, a ventless gas heater and a wall A/C unit provides shelter for vehicles and sufficient area for a workshop * For additional storage, there is a 22 x 28 barn with a lof

Key facts

• Natural woodwork
• Metal roof
• Double hung windows

Tags

• METAL ROOF
• DOUBLE HUNG WINDOWS
• FURNACE
• CENTRAL AIR
• STORM DOOR
• NATURAL WOODWORK

Property features AI

Exterior

• Parking: Detached heated garage with garage door opener (2.5 garage spaces)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; 2 stories
• Construction: Vinyl siding; Metal roof; Home warranty included
• Exterior features: Front porch; Level lot; State road frontage; Barn on property

Interior

• Kitchen: Eat-in kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air central heating; Natural gas heating
• Interior features: Eat-in kitchen; Crawl space and full basement with sump pump; 6 total rooms
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• Recommended offer: $175k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Mapleton Local (rural): math 46% / reading 60% proficiency, ranked #392 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; solid renter incomes; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $178k implies a 324% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,330 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $132,496
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
270 St Rt 511	0.22mi	3/1.0	1,394 (-4%)	2mo	$120,000	$86	79
906 Us 224	0.21mi	3/2.0	1,394 (-4%)	14mo	$170,000	$122	69
261 State Route 511	0.15mi	2/1.0 (-1)	1,316 (-10%)	4mo	$139,000	$106	67
267 State Route 511	0.19mi	3/1.0	1,642 (+13%)	16mo	$140,000	$85	54
953 US Rt 224	0.23mi	2/1.5 (-1)	1,656 (+14%)	19mo	$150,000	$91	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.36×
• Total profit: $117,391
• Equity at exit: $160,357

10-year hold

• IRR: 25.9%
• Equity multiple: 7.61×
• Total profit: $329,504
• Equity at exit: $345,815

Cash invested: $49,840 (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 44859

• Home prices YoY: 9.6%
• Active inventory: 5
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,823 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $322

Break-even live

Break-even rent $1,416

Max offer price $178,000

Occupancy floor 77%

Sensitivity live

Price	-10% $422	-5% $372	+0% $322	+5% $271	+10% $221
Rent	-10% $178	-5% $250	+0% $322	+5% $394	+10% $466
Rate	-1.0pp $411	-0.5pp $367	base $322	+0.5pp $276	+1.0pp $229

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $178,000 Active 30 DOM
2. 2026-06-18
   days on market $178,000 Active 29 DOM
3. 2026-06-17
   days on market $178,000 Active 28 DOM
4. 2026-06-16
   days on market $178,000 Active 27 DOM
5. 2026-06-15
   days on market $178,000 Active 26 DOM
6. 2026-06-14
   days on market $178,000 Active 24 DOM
7. 2026-06-12
   days on market $178,000 Active 23 DOM
8. 2026-06-09
   days on market $178,000 Active 20 DOM
9. 2026-06-08
   days on market $178,000 Active 19 DOM
10. 2026-06-07
    days on market $178,000 Active 18 DOM
11. 2026-06-05
    days on market $178,000 Active 15 DOM
12. 2026-06-02
    days on market $178,000 Active 13 DOM
13. 2026-06-01
    days on market $178,000 Active 12 DOM
14. 2026-05-31
    days on market $178,000 Active 11 DOM
15. 2026-05-30
    days on market $178,000 Active 10 DOM
16. 2026-05-20
    listed $178,000 Active
17. 1991-12-19
    soldstatus $42,000

ⓘ 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: $1,335 · $111/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: +$721/yr (+$60/mo · 54.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,882
• − Mortgage interest: −$9,971
• − Property taxes: −$1,335
• − Insurance: −$890
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$5,178
• Taxable income: $1,007
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $3,619/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: Mapleton Local
• NCES district ID: 3904583
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 60% ▼ -4.00%
• Median HH income: $53,107
• Composite: 45.52/100
• National rank: #2607
• State rank: #392 of 656 in OH

Livability — Sullivan

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Ashland · 50,679 people
• City population: 3,131
• Population (ZIP): 1,781
• Household income: $85,688
• Rent vs Own: 0.0% rent · 100.0% own

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Hungarian 14% Romanian 11% Slovak 7%
• Foreign-born: 1%
• Languages at home: 85% English-only · French/Haitian/Cajun 14% German/W. Germanic 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.68%
• Current HPI: 259.8037
• 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

+323.8% since first listed

2 events — show timeline

• 2026-05-20 Listed $178,000 ABOR
• 1991-12-19 Sold (Public Records) $42,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,335 · -0.6% YoY. Source: county tax records.