507 3rd St · Marietta, OH 45750

$209,000

4 bd · 2.0 ba · 1,772 sqft · MultiFamily public records · 10 Days on market

Built 1900 4,051 sqft lot

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Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Nestled on a historic street, this home immediately draws you in with it's inviting covered front porch—perfect for relaxing evenings or morning coffee. There is also a great covered porch to the back of the home, off of the kitchen. Inside, you’ll find four spacious bedrooms, stunning hardwood floors, updated kitchen, along with a spacious layout designed for comfortable living and entertaining. Also a convenient first floor office. Plenty of storage in the large attic or basement. Many modern updates, but also a lot of character with things like pocket doors and even a skeleton key! With it's charming curb appeal, welcoming atmosphere, and prime location close to everything M

Key facts

• Covered front porch
• First floor office
• Pocket doors

Tags

• COVERED FRONT PORCH
• FIRST FLOOR OFFICE
• LARGE ATTIC
• LARGE BASEMENT
• POCKET DOORS
• SKELETON KEY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $209k.

Deal economics

• At list price, monthly cash flow is $990 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Cap rate 12.3% vs local median 6.3% in Marietta — 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 80/100 on livability (#127 in OH, #1,845 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment D-.
• Marietta City (town): math 35% / reading 49% proficiency, ranked #534 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• At $2,914/mo this rent would consume 58% of the median local household income ($60k/yr) (locally 727% 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 $6k of value loss. Plan a longer hold.
• Washington County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y 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 $110k; list at $209k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.44%
• DSCR: 1.95
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $116,952
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
435 Third St	0.05mi	4/1.5	1,978 (+12%)	18mo	$130,000	$66	61

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: 12.5%
• Equity multiple: 1.50×
• Total profit: $29,152
• Equity at exit: $31,163

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $106,428
• Equity at exit: $18,071

Cash invested: $58,520 (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 45750

• Home prices YoY: -32.4%
• Active inventory: 118
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,914 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$87
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $990

Break-even live

Break-even rent $1,661

Max offer price $209,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,108	-5% $1,049	+0% $990	+5% $931	+10% $872
Rent	-10% $760	-5% $875	+0% $990	+5% $1,105	+10% $1,220
Rate	-1.0pp $1,095	-0.5pp $1,043	base $990	+0.5pp $936	+1.0pp $881

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,914
Total (2 units)			$2,914

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 3rd St Marietta, OH	3.0	2.0	1659	$2,000	$1.21	44d	1	0.53mi
621 Virginia St #5 Marietta, OH	3.0	2.0	1240	$1,695	$1.37	44d	1	1.12mi

Listing history 10 events

1. 2026-04-16
   status Pending
2. 2026-04-11
   historical Contingent
3. 2026-04-03
   listed $209,000 Active
4. 2010-12-20
   historical
5. 2010-01-09
   listed $144,900
6. 2009-09-16
   historical
7. 2009-03-12
   listed $149,900
8. 2005-05-27
   soldstatus $110,000
9. 2004-12-13
   listed $119,900
10. 2003-04-22
    soldstatus $37,000

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $2,070 · $173/mo
• Expected delta: +$1,190/yr (+$99/mo · 135.1%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,968
• − Mortgage interest: −$11,707
• − Property taxes: −$880
• − Insurance: −$1,712
• − Repairs & maintenance: −$2,797
• − Management: −$2,797
• − Depreciation: −$6,080
• Taxable income: $8,994
• Est. tax owed @ 24.0%: −$2,159
• After-tax cash flow: $9,722/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: Marietta City
• NCES district ID: 3910019
• Math proficiency: 35% ▼ -20.00%
• Reading proficiency: 49% ▼ -12.00%
• Median HH income: $39,366
• Composite: 35.08/100
• National rank: #5025
• State rank: #534 of 656 in OH

Livability — Marietta

• Score: 80/100
• State rank: #127
• US rank: #1845

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marietta, OH
• County: Washington County · 26,420 people
• City population: 26,420
• Metro: Marietta, OH
• Population (ZIP): 26,420
• Household income: $60,229
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 727.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,640 people
• By 2030: 58,315 · -2.2%
• By 2040: 55,186 · -7.5%
• By 2050: 52,246 · -12.4%
• By 2075: 45,893 · -23.0%
• By 2100: 38,128 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Asian 1% Black 1% Hispanic / Latino 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+43.8) · D 27.7% · R 71.5%
• 2008→2024 swing: +40.2pp toward D · 2008: -83.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+40.8 2016: R+41.6 2012: R+19.4 2008: R+83.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.06%
• Current HPI: 198.6235
• Rent YoY: —
• Metro: Marietta, 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

+464.9% since first listed

10 events — show timeline

• 2026-04-16 Pending — MLSNOW
• 2026-04-11 Contingent — MLSNOW
• 2026-04-03 Listed $209,000 MLSNOW
• 2010-12-20 Listing Removed — MLSNOW
• 2010-01-09 Listed $144,900 MLSNOW
• 2009-09-16 Listing Removed — MLSNOW
• 2009-03-12 Listed $149,900 MLSNOW
• 2005-05-27 Sold (MLS) $110,000 MLSNOW
• 2004-12-13 Listed $119,900 MLSNOW
• 2003-04-22 Sold (Public Records) $37,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $880 · +4.2% YoY. Source: county tax records.