885 Mt Vernon Ave · Marion, OH 43302

$219,900

4 bd · 2.0 ba · 2,144 sqft · MultiFamily public records · 63 Days on market

Built 1907 7,405 sqft lot $103/sqft · 47% above area Est $150k · 47% over

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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).

• Cash flow +22.1/30.0
• DSCR +7.1/10.0
• 1% rule +5.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Duplex on east side of city with separate utilities. Off street parking and offering attached double carport in rear. 100% Occupied with same tenants for years. Laundry facilities are shared by both tenants. ;null

Key facts

• 7,405 sq ft lot
• 4 parking spots
• Built 1907

Property features AI

Finance

• Other: Annual tax amount (2025): $2,342
• Financial info: Two-unit property; Net operating income: $13,714; Operating expenses: $2,486

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Public sewer; Natural gas available; Electricity available
• Home design: Duplex; Built in 1907 (effectively updated 2022)
• Construction: Year built 1907; Effective year built 2022
• Exterior features: Lot approximately 0.17 acre; Storm sewer available

Interior

• Heating & cooling: Central Air; Forced Air
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 6.8% in Marion — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Benjamin Harrison Elementary School (math 40% / reading 51%, grade D-, #980 of 1,584 statewide, top 62%, 391 students, 0% FRL); Ulysses S. Grant Middle School (math 22% / reading 25%, grade F, #597 of 654 statewide, top 92%, 998 students, 0% FRL); Harding High School (math 16% / reading 36%, grade F, #636 of 781 statewide, top 82%, 1,050 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 208 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At $2,273/mo this rent would consume 50% of the median local household income ($55k/yr) (locally 1554% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Marion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $109k; list at $220k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 1907 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 8.1

CMA / ARV

• ARV (median comp): $149,535
• List price: $219,900
• Delta: 47.06%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Belmont St	0.71mi	4/—	2,256 (+5%)	14mo	$156,000	$69	46

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-12,994
• Equity at exit: $32,788

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $17,795
• Equity at exit: $19,013

Cash invested: $61,572 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 208
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $2,273 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $356

Break-even live

Break-even rent $1,823

Max offer price $219,900

Occupancy floor 79%

Sensitivity live

Price	-10% $480	-5% $418	+0% $356	+5% $293	+10% $231
Rent	-10% $176	-5% $266	+0% $356	+5% $445	+10% $535
Rate	-1.0pp $466	-0.5pp $412	base $356	+0.5pp $299	+1.0pp $241

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,274
Total (2 units)			$2,273

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $219,900 Active 63 DOM
2. 2026-06-19
   days on market $219,900 Active 61 DOM
3. 2026-06-18
   days on market $219,900 Active 60 DOM
4. 2026-06-17
   days on market $219,900 Active 59 DOM
5. 2026-06-16
   days on market $219,900 Active 58 DOM
6. 2026-06-15
   days on market $219,900 Active 57 DOM
7. 2026-06-14
   days on market $219,900 Active 55 DOM
8. 2026-06-12
   days on market $219,900 Active 54 DOM
9. 2026-06-09
   days on market $219,900 Active 51 DOM
10. 2026-06-08
    days on market $219,900 Active 50 DOM
11. 2026-06-07
    days on market $219,900 Active 49 DOM
12. 2026-06-05
    days on market $219,900 Active 46 DOM
13. 2026-06-03
    days on market $219,900 Active 45 DOM
14. 2026-06-02
    days on market $219,900 Active 44 DOM
15. 2026-06-01
    days on market $219,900 Active 43 DOM
16. 2026-05-31
    days on market $219,900 Active 42 DOM
17. 2026-05-30
    days on market $219,900 Active 41 DOM
18. 2026-04-17
    listed $219,900 Active 266-char remark
19. 2025-02-11
    historical
20. 2024-06-03
    listed $215,000 Active
21. 2021-05-22
    historical

    Show marketing remark (213 chars)

    Duplex on east side of city with separate utilities. Off street parking and offering attached double carport in rear. 100% Occupied with same tenants for years. Laundry facilities are shared by both tenants. ;null

22. 2019-05-15
    soldstatus $108,900 Closed

    Show marketing remark (213 chars)

    Duplex on east side of city with separate utilities. Off street parking and offering attached double carport in rear. 100% Occupied with same tenants for years. Laundry facilities are shared by both tenants. ;null

23. 2018-04-16
    listed $119,900

    Show marketing remark (213 chars)

    Duplex on east side of city with separate utilities. Off street parking and offering attached double carport in rear. 100% Occupied with same tenants for years. Laundry facilities are shared by both tenants. ;null

24. 2005-06-15
    soldstatus $140,000
25. 2001-05-18
    soldstatus $110,000

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,886 · $241/mo
• Expected delta: +$544/yr (+$45/mo · 23.2%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,276
• − Mortgage interest: −$12,318
• − Property taxes: −$2,342
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − Depreciation: −$6,397
• Taxable income: $755
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $4,087/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• 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 · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

+99.9% since first listed

8 events — show timeline

• 2026-04-17 Listed $219,900 CBRMLS
• 2025-02-11 Listing Removed — CBRMLS
• 2024-06-03 Listed $215,000 CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2019-05-15 Sold (MLS) $108,900 CBRMLS
• 2018-04-16 Listed $119,900 CBRMLS
• 2005-06-15 Sold (Public Records) $140,000 Public Records
• 2001-05-18 Sold (Public Records) $110,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,342 · +0.0% YoY. Source: county tax records.