1407 Cottage St · Ashland, OH 44805

$64,900

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 7 Days on market

Built 1901 7,522 sqft lot $47/sqft · 41% below area Est $110k · 41% under ↓ 23% since listing

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Why this score? — see what drove the A- 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 +5.8/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special!! 3-bedroom, 2 full bath home ready for your vision! The first floor has already been gutted with plaster removed, offering a head start on renovations. Several major updates have been completed including some new electrical ran, furnace, central air, water heater and front door. Great opportunity for investors, flippers, or buyers looking to build sweat equity. Bring your ideas and restore this home to its full potential!!

Key facts

• First floor gutted
• Water heater
• New electrical ran

Tags

• FIRST FLOOR GUTTED
• NEW ELECTRICAL RAN
• MAJOR UPDATES COMPLETED
• FURNACE
• CENTRAL AIR
• WATER HEATER

Property features AI

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story home; Combination foundation
• Construction: Block, plaster and vinyl siding construction; Shingle roof; Built (year per public records)
• Exterior features: Enclosed patio/porch and porch; Irregular lot

Interior

• Bedrooms: Total of 6 rooms (bedrooms not specifically itemized)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Aluminum frame windows; Partial basement
• Laundry & utility: Laundry on main level

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 $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 17.5% vs local median 3.8% in Ashland — 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 72/100 on livability (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 125 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 61 units permitted in Ashland 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.
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $50k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1901 — 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. 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?
4. 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.
5. 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.
6. 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: 1.97% ✓
• Cap rate: 17.49%
• Cash-on-cash: 39.99%
• DSCR: 2.78
• GRM: 4.2

CMA / ARV

• ARV (median comp): $110,196
• List price: $64,900
• Delta: -41.10%
• 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
1407 Cottage St	0.00mi	3/2.0	1,368 (0%)	1mo	$50,000	$37	95
410 Ohio St	0.35mi	3/1.5	1,288 (-6%)	6mo	$150,000	$116	67
803 Myers Ave	0.43mi	3/2.0	1,414 (+3%)	4mo	$151,000	$107	67
1210 Cottage St	0.13mi	4/2.0 (+1)	1,564 (+14%)	4mo	$72,500	$46	58
1115 Cottage St	0.19mi	2/2.0 (-1)	1,522 (+11%)	8mo	$112,500	$74	57
1022 Union St	0.44mi	3/1.5	1,248 (-9%)	7mo	$152,000	$122	57
605 Evergreen St	0.64mi	3/1.0	1,276 (-7%)	2mo	$160,000	$125	57
857 Sandusky St	0.59mi	3/2.0	1,296 (-5%)	4mo	$204,000	$157	56
1438 Peachtree Dr	0.64mi	3/1.5	1,416 (+4%)	7mo	$215,000	$152	56
846 Sandusky St	0.55mi	3/1.5	1,482 (+8%)	3mo	$219,900	$148	56
122 Lindale Ave	0.72mi	3/2.0	1,316 (-4%)	2mo	$125,000	$95	54
1411 Orange Rd	0.54mi	3/1.5	1,550 (+13%)	2mo	$218,000	$141	49

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: 40.7%
• Equity multiple: 2.84×
• Total profit: $33,502
• Equity at exit: $9,677

10-year hold

• IRR: 48.8%
• Equity multiple: 6.68×
• Total profit: $103,150
• Equity at exit: $5,611

Cash invested: $18,172 (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 44805

• Rents YoY: 7.1%
• Active inventory: 125
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,279 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $606

Break-even live

Break-even rent $513

Max offer price $64,900

Occupancy floor 48%

Sensitivity live

Price	-10% $642	-5% $624	+0% $606	+5% $587	+10% $569
Rent	-10% $505	-5% $555	+0% $606	+5% $656	+10% $707
Rate	-1.0pp $638	-0.5pp $622	base $606	+0.5pp $589	+1.0pp $572

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	44d	1	0.61mi
200 Race St Unit 200 Ashland, OH	2.0	1.0	1532	$735	$0.48	44d	1	0.70mi
510 Broad St Ashland, OH	3.0	1.0	1681	$1,650	$0.98	45d	1	0.98mi
222 E Walnut St Unit 212 Ashland, OH	2.0	1.0	970	$900	$0.93	44d	1	1.07mi
606 Edgehill Ave Ashland, OH	4.0	2.0	1858	$1,850	$1.00	44d	1	1.33mi

Listing history 4 events

1. 2026-05-18
   status Pending 444-char remark

   Show marketing remark (444 chars)

   Investor Special!! 3-bedroom, 2 full bath home ready for your vision! The first floor has already been gutted with plaster removed, offering a head start on renovations. Several major updates have been completed including some new electrical ran, furnace, central air, water heater and front door. Great opportunity for investors, flippers, or buyers looking to build sweat equity. Bring your ideas and restore this home to its full potential!!

2. 2026-05-18
   status Pending 443-char remark

   Show marketing remark (444 chars)

   Investor Special!! 3-bedroom, 2 full bath home ready for your vision! The first floor has already been gutted with plaster removed, offering a head start on renovations. Several major updates have been completed including some new electrical ran, furnace, central air, water heater and front door. Great opportunity for investors, flippers, or buyers looking to build sweat equity. Bring your ideas and restore this home to its full potential!!

3. 2026-05-08
   listed $64,900 Active 444-char remark

   Show marketing remark (444 chars)

   Investor Special!! 3-bedroom, 2 full bath home ready for your vision! The first floor has already been gutted with plaster removed, offering a head start on renovations. Several major updates have been completed including some new electrical ran, furnace, central air, water heater and front door. Great opportunity for investors, flippers, or buyers looking to build sweat equity. Bring your ideas and restore this home to its full potential!!

4. 2026-05-08
   listed $64,900 Active 443-char remark

   Show marketing remark (444 chars)

   Investor Special!! 3-bedroom, 2 full bath home ready for your vision! The first floor has already been gutted with plaster removed, offering a head start on renovations. Several major updates have been completed including some new electrical ran, furnace, central air, water heater and front door. Great opportunity for investors, flippers, or buyers looking to build sweat equity. Bring your ideas and restore this home to its full potential!!

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $732 · $61/mo
• Expected delta: +$281/yr (+$23/mo · 62.2%)

ⓘ 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 ≥97°F today · 16 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: $15,351
• − Mortgage interest: −$3,635
• − Property taxes: −$451
• − Insurance: −$324
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$1,888
• Taxable income: $6,596
• Est. tax owed @ 24.0%: −$1,583
• After-tax cash flow: $5,685/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, OH
• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 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: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, 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

-23.0% since first listed

6 events — show timeline

• 2026-05-29 Sold (MLS) $50,000 MLSNOW
• 2026-05-29 Sold (MLS) $50,000 ABOR
• 2026-05-18 Pending — ABOR
• 2026-05-18 Pending — MLSNOW
• 2026-05-08 Listed $64,900 MLSNOW
• 2026-05-08 Listed $64,900 ABOR

Property tax history

-3.5%/yr

Latest (2025): $451 · -38.8% YoY. Source: county tax records.