361 Granville St · Newark, OH 43055

$65,000

4 bd · 4.0 ba · 2,639 sqft · MultiFamily public records · 5 Days on market

Built 1885 10,454 sqft lot ↓ 43% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

This 4 unit property needs some TLC after fire damage. Each unit is 1 bed 1 bath.

Key facts

• 4 unit property
• Fire damage
• 0.24 acre lot

Tags

• 4 UNIT PROPERTY
• FIRE DAMAGE

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $533/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $65k).
• Cap rate 45.6% vs local median 3.2% in Newark — 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 69/100 on livability (#493 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D+, amenities F, commute F.
• Newark City (suburban): math 48% / reading 56% proficiency, ranked #431 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).
• At $3,481/mo this rent would consume 65% of the median local household income ($64k/yr) (locally 2269% 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 $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 5.36% ✓
• Cap rate: 45.65%
• Cash-on-cash: 140.56%
• DSCR: 7.25
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $229,593
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326-328 W Church St	0.45mi	4/—	2,650 (+0%)	15mo	$230,000	$87	66
55 N 7th St	0.63mi	3/— (-1)	2,364 (-10%)	16mo	$170,000	$72	34

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.63×
• Total profit: $120,667
• Equity at exit: $9,692

10-year hold

• IRR: —
• Equity multiple: 15.38×
• Total profit: $261,649
• 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 43055

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,481 high
• Mortgage (P&I): −$341
• Tax from tax record: −$250 /mo · $3,002/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $2,132

Break-even live

Break-even rent $782

Max offer price $65,000

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$3,480
Total (4 units)			$3,481

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 N Buena Vista St Unit 1 Newark, OH	5.0	1.0	1850	$1,200	$0.65	3d	1	1.42mi

Listing history 5 events

1. 2024-12-02
   status Pending
2. 2024-06-18
   soldstatus $65,000
3. 2024-06-05
   status Pending
4. 2024-05-30
   listed $65,000 Active
5. 2004-03-25
   soldstatus $115,000

ⓘ 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: $3,002 · $250/mo
• Projected year-2 tax: $3,002 · $250/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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,772
• − Mortgage interest: −$3,641
• − Property taxes: −$3,002
• − Insurance: −$325
• − Repairs & maintenance: −$3,342
• − Management: −$3,342
• − Depreciation: −$1,891
• Taxable income: $26,229
• Est. tax owed @ 24.0%: −$6,295
• After-tax cash flow: $19,287/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: Newark City
• NCES district ID: 3904445
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $38,662
• Composite: 43.33/100
• National rank: #3034
• State rank: #431 of 656 in OH

Livability — Newark

• Score: 69/100
• State rank: #493
• US rank: #8263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, OH
• County: Licking County · 109,194 people
• City population: 63,281
• Metro: Columbus, OH
• Population (ZIP): 63,281
• Household income: $63,974
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2269.0

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• 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 · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.54%
• Current HPI: 247.9425
• Rent YoY: ▲ 1.63%
• Metro: Columbus, 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

-43.5% since first listed

5 events — show timeline

• 2024-12-02 Pending — CBRMLS
• 2024-06-18 Sold (Public Records) $65,000 Public Records
• 2024-06-05 Pending — CBRMLS
• 2024-05-30 Listed $65,000 CBRMLS
• 2004-03-25 Sold (Public Records) $115,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,002 · +33.5% YoY. Source: county tax records.