329 S Western Ave · Springfield, OH 45506

$160,000

3 bd · 1.5 ba · 1,518 sqft · SingleFamily public records · 9 Days on market

Built 1912 Est $143k · 12% over

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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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +5.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 3-bedroom, 1-bathroom home, ideally located on a rare double lot that provides ample space for outdoor living and added privacy. The property includes a detached garage with room for three or more vehicles--perfect for parking, hobbies, or additional storage--as well as a fully fenced yard complete with a shed, ideal for gardening, pets, or entertaining. Inside, you'll find a spacious family room designed for both relaxing and hosting, along with a dining area and a dedicated office space. The basement offers additional storage to meet your needs. Step outside to enjoy the covered patio, a great spot for entertaining guests or unwinding during quiet evenings. Recent

Key facts

• Double lot
• Covered patio
• Fully fenced yard

Tags

• DOUBLE LOT
• DETACHED GARAGE
• FULLY FENCED YARD
• COVERED PATIO
• DEDICATED OFFICE SPACE
• ADDITIONAL STORAGE

Property features AI

Exterior

• Parking: Attached garage with 3 spaces
• Utilities: Public sewer; Supplied water
• Home design: Single-family residence; Residential property type; Built in 1912; Lot dimensions approximately 0.26
• Construction: Vinyl siding; Block foundation
• Exterior features: Porch and patio; Shed(s) on property; Residential lot

Interior

• Kitchen: Dishwasher, Range, Refrigerator
• Bathrooms: 2 bathrooms total (1 full, 1 half)
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Dishwasher, Range, Refrigerator; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 9.1% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $1,686/mo this rent would consume 48% of the median local household income ($42k/yr) (locally 684% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $24k; list at $160k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1912 — 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. Crime grade is F 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?
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: 1.05% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.95%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $142,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
833 W Mulberry St	0.11mi	3/1.5	1,448 (-5%)	7mo	$154,500	$107	82
1374 W Mulberry St	0.32mi	4/1.0 (+1)	1,519 (+0%)	2mo	$70,000	$46	76
1537 W Pleasant St	0.48mi	3/1.0	1,463 (-4%)	2mo	$74,000	$51	68
1618 W Pleasant St	0.53mi	3/1.5	1,432 (-6%)	1mo	$78,000	$54	65
306 N Western Ave	0.58mi	3/1.0	1,460 (-4%)	4mo	$157,000	$108	61
1207 W Pleasant St	0.18mi	2/1.0 (-1)	1,328 (-12%)	4mo	$134,900	$102	60
1417 W Main St	0.46mi	3/1.0	1,668 (+10%)	3mo	$142,500	$85	58
311 N Shaffer St	0.61mi	3/2.0	1,610 (+6%)	4mo	$152,000	$94	56
1212 W Pleasant St	0.17mi	4/2.0 (+1)	1,300 (-14%)	6mo	$164,000	$126	56
410 W Liberty St	0.64mi	3/2.5	1,380 (-9%)	0mo	$130,000	$94	51
770 W State St	0.66mi	3/1.5	1,328 (-12%)	2mo	$105,000	$79	47
1323 Broadway St	0.66mi	2/1.0 (-1)	1,356 (-11%)	5mo	$140,000	$103	40

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,322
• Equity at exit: $23,857

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $28,196
• Equity at exit: $13,834

Cash invested: $44,800 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$839
• Tax from tax record: −$54 /mo · $653/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $372

Break-even live

Break-even rent $1,215

Max offer price $160,000

Occupancy floor 73%

Sensitivity live

Price	-10% $462	-5% $417	+0% $372	+5% $326	+10% $281
Rent	-10% $238	-5% $305	+0% $372	+5% $438	+10% $505
Rate	-1.0pp $452	-0.5pp $412	base $372	+0.5pp $330	+1.0pp $288

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	11d	1	0.39mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	11d	1	0.40mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	11d	1	0.41mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	11d	1	0.41mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	24d	1	0.44mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	44d	1	0.54mi
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	3d	1	0.64mi
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	3d	1	0.65mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	19d	1	1.11mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	22d	1	1.25mi
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	1.31mi

Listing history 3 events

1. 2026-04-11
   status Pending
2. 2026-04-01
   listed $160,000 Active
3. 1988-03-16
   soldstatus $24,000

ⓘ 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: $653 · $54/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$921/yr (+$77/mo · 141.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,230
• − Mortgage interest: −$8,962
• − Property taxes: −$653
• − Insurance: −$800
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$4,655
• Taxable income: $1,923
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $3,998/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.97%
• Current HPI: 286.2883
• Rent YoY: —
• Metro: Springfield, 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

+566.7% since first listed

3 events — show timeline

• 2026-04-11 Pending — WRIST
• 2026-04-01 Listed $160,000 WRIST
• 1988-03-16 Sold (Public Records) $24,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $653 · +84.9% YoY. Source: county tax records.