410 Birdcage Walk · Mansfield, OH 44902

$109,900

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 6 Days on market

Built 1971 Est $90k · 22% 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 +20.2/30.0
• Appreciation +9.2/10.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to 410 Birdcage Walk, a 3-bed, 1-bath raised ranch offering 992 sq ft in Mansfield City Schools. This home features vinyl plank flooring throughout the living room, kitchen & hallway and a bright, functional layout. The kitchen includes fridge & stove, and the main level offers a comfortable living space. Enjoy additional living space with a screened-in sunroom off the back, overlooking the fenced-in backyard. The lower level provides great potential for a rec room and includes a sump pump & water heater (2025) for added peace of mind. Additional highlights include vinyl windows throughout, a 1-car attached garage, and a concrete driveway. A great opportunity with

Key facts

• Vinyl windows
• Screened-in sunroom
• Fenced-in backyard

Tags

• VINYL PLANK FLOORING
• SCREENED-IN SUNROOM
• FENCED-IN BACKYARD
• VINYL WINDOWS
• CONCRETE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (7.9% below list).
• Recommended offer: $101k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.2% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D-, amenities D-, employment F.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Malabar Intermediate School (math 17% / reading 29%, grade F, #1,233 of 1,584 statewide, top 78%, 762 students, 0% FRL); Mansfield Middle School (math 18% / reading 30%, grade F, #593 of 654 statewide, top 91%, 427 students, 0% FRL); Mansfield Senior High School (math 22% / reading 32%, grade F, #632 of 781 statewide, top 81%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($760 loan paydown + $9k appreciation (8.4% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $101,201 (7.9% below list)

Questions for the listing agent

1. Built in 1971 — 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 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?
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: 0.92% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $90,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 Birdcage Walk	0.00mi	3/1.0	992 (0%)	1mo	$90,000	$91	100
260 Dale Ave	0.28mi	3/1.0	1,008 (+2%)	2mo	$65,000	$64	82
323 E 1st St	0.46mi	2/1.0 (-1)	984 (-1%)	3mo	$148,000	$150	70
309 Superior St	0.41mi	3/1.0	986 (-1%)	12mo	$49,000	$50	70
353 Home Ave	0.19mi	3/1.0	864 (-13%)	6mo	$129,900	$150	64
302 E First St	0.46mi	3/1.0	973 (-2%)	13mo	$77,000	$79	64
148 Dale Ave	0.50mi	2/1.0 (-1)	988 (-0%)	11mo	$58,000	$59	62
445 Luther St	0.42mi	2/1.0 (-1)	936 (-6%)	13mo	$120,000	$128	55
223 Reform St	0.54mi	3/1.0	1,092 (+10%)	8mo	$135,000	$124	51
273 Hammond Ave	0.68mi	3/1.0	1,092 (+10%)	3mo	$134,900	$124	49
146 E 1st St	0.64mi	3/1.5	1,112 (+12%)	1mo	$41,000	$37	47
606 Woodville Rd	0.58mi	2/1.0 (-1)	854 (-14%)	14mo	$51,500	$60	34

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

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.86×
• Total profit: $57,277
• Equity at exit: $86,894

10-year hold

• IRR: 22.5%
• Equity multiple: 6.19×
• Total profit: $159,727
• Equity at exit: $175,831

Cash invested: $30,772 (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 44902

• Home prices YoY: 2.9%
• Active inventory: 31
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,012 high
• Mortgage (P&I): −$576
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $139

Break-even live

Break-even rent $836

Max offer price $109,900

Occupancy floor 81%

Sensitivity live

Price	-10% $201	-5% $170	+0% $139	+5% $108	+10% $77
Rent	-10% $59	-5% $99	+0% $139	+5% $179	+10% $219
Rate	-1.0pp $194	-0.5pp $167	base $139	+0.5pp $111	+1.0pp $82

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 State St Mansfield, OH	3.0	1.0	1040	$995	$0.96	45d	1	0.83mi
282 Cliffbrook Dr Mansfield, OH	3.0	1.0	912	$1,395	$1.53	45d	1	0.84mi
100 Winwood Dr Mansfield, OH	2.0	1.0	700	$725	$1.04	45d	1	1.11mi
135 E Cook Rd Mansfield, OH	1.0–2.0	1.0	554	$850	$1.53	45d	10	1.14mi
896 Brookfield Dr Mansfield, OH	2.0	1.0	770	$795	$1.03	45d	1	1.24mi

Listing history 2 events

1. 2026-03-30
   status Pending
2. 2026-03-24
   listed $109,900 Active

ⓘ 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: $460 · $38/mo
• Projected year-2 tax: $1,087 · $91/mo
• Expected delta: +$627/yr (+$52/mo · 136.3%)

ⓘ 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 ≥96°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,144
• − Mortgage interest: −$6,156
• − Property taxes: −$460
• − Insurance: −$550
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,197
• Taxable loss: −$162
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $1,707/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 4,876
• Household income: $31,619
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 13.2

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Italian 2% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.45%
• Current HPI: 302.035
• 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

2 events — show timeline

• 2026-03-30 Pending — MARMLS
• 2026-03-24 Listed $109,900 MARMLS

Property tax history

+7.6%/yr

Latest (2025): $460 · +0.0% YoY. Source: county tax records.