123 Pike St · Sidney, OH 45365

$149,000

3 bd · 1.5 ba · 1,932 sqft · SingleFamily public records · 2 Days on market

Built 1900 6,534 sqft lot Est $185k · 20% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REO/Bank Owned. Seller reserves the right to reject any offer. Sold AS-IS. Seller will not turn on utilities for inspections. $500.00 earnest money and POF required will all offers.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/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 $148k (0.4% below list).
• Recommended offer: $148k (0.4% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 4.1% in Sidney — 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 (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 145 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shelby County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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 $9k; list at $149k implies a 1556% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,425 (0.4% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 1.00% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $185,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
834 N West Ave	0.22mi	3/1.5	1,687 (-13%)	3mo	$125,000	$74	66
324 N Lane St	0.37mi	3/1.5	1,808 (-6%)	12mo	$67,500	$37	62
619 Michigan St	0.49mi	3/2.5	1,840 (-5%)	5mo	$205,000	$111	61
527 Linden Ave	0.38mi	3/1.0	1,680 (-13%)	1mo	$162,000	$96	58
933 N Miami Ave	0.35mi	3/2.0	1,728 (-11%)	10mo	$210,000	$122	56
512 Sycamore Ave	0.43mi	3/1.0	1,718 (-11%)	5mo	$104,000	$61	55
120 Bon Air	0.60mi	3/2.0	1,776 (-8%)	2mo	$249,900	$141	55
705 Michigan St	0.52mi	4/2.0 (+1)	1,806 (-6%)	6mo	$95,100	$53	53
716 Taft St	0.72mi	3/1.0	1,792 (-7%)	1mo	$178,000	$99	52
770 Johnston Dr	0.69mi	4/3.0 (+1)	1,898 (-2%)	6mo	$252,000	$133	49
109 E Water St	0.69mi	4/2.0 (+1)	1,816 (-6%)	5mo	$82,250	$45	47
501 S West Ave	0.75mi	3/1.0	2,088 (+8%)	5mo	$165,000	$79	46

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-9,392
• Equity at exit: $22,216

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $10,728
• Equity at exit: $12,883

Cash invested: $41,720 (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 45365

• Home prices YoY: -20.1%
• Active inventory: 145
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $232

Break-even live

Break-even rent $1,190

Max offer price $149,000

Occupancy floor 79%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 N Main Ave Sidney, OH	3.0	1.0	1544	$1,300	$0.84	12d	1	0.60mi
314 Thompson St Sidney, OH	3.0	1.0	1352	$1,200	$0.89	2d	1	0.84mi
805 S Main Ave Sidney, OH	3.0	1.0	1423	$1,400	$0.98	21d	1	1.01mi
1550 Knights Way Sidney, OH	4.0	2.5	2231	$2,195	$0.98	14d	1	1.13mi

Listing history 20 events

1. 2026-06-18
   days on market $149,000 Active 2 DOM
2. 2026-06-16
   pricedays on marketlisting id $149,000 Active 1 DOM
3. 2026-06-15
   days on market $145,000 Active 20 DOM
4. 2026-06-14
   days on market $145,000 Active 18 DOM
5. 2026-06-13
   days on market $145,000 Active 17 DOM
6. 2026-06-10
   days on market $145,000 Active 15 DOM
7. 2026-06-09
   days on market $145,000 Active 14 DOM
8. 2026-06-08
   days on market $145,000 Active 13 DOM
9. 2026-06-07
   days on market $145,000 Active 12 DOM
10. 2026-06-03
    days on market $145,000 Active 8 DOM
11. 2026-06-02
    days on market $145,000 Active 7 DOM
12. 2026-06-01
    days on market $145,000 Active 6 DOM
13. 2026-05-31
    days on market $145,000 Active 5 DOM
14. 2026-05-31
    days on market $145,000 Active 4 DOM
15. 2026-05-26
    listed $145,000 Active
16. 2011-05-27
    soldstatus $9,000 181-char remark

    Show marketing remark (181 chars)

    REO/Bank Owned. Seller reserves the right to reject any offer. Sold AS-IS. Seller will not turn on utilities for inspections. $500.00 earnest money and POF required will all offers.

17. 2011-05-27
    soldstatus $9,000 Closed 181-char remark

    Show marketing remark (181 chars)

    REO/Bank Owned. Seller reserves the right to reject any offer. Sold AS-IS. Seller will not turn on utilities for inspections. $500.00 earnest money and POF required will all offers.

18. 2011-04-19
    listed $12,000 181-char remark

    Show marketing remark (181 chars)

    REO/Bank Owned. Seller reserves the right to reject any offer. Sold AS-IS. Seller will not turn on utilities for inspections. $500.00 earnest money and POF required will all offers.

19. 1995-06-28
    soldstatus $56,500
20. 1990-02-26
    soldstatus $44,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,744 · $145/mo
• Expected delta: +$580/yr (+$48/mo · 49.9%)

ⓘ 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 ≥100°F today · 18 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: $17,811
• − Mortgage interest: −$8,346
• − Property taxes: −$1,164
• − Insurance: −$745
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$4,335
• Taxable income: $372
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $2,696/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: Sidney City
• NCES district ID: 3910003
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $45,974
• Composite: 41.55/100
• National rank: #3443
• State rank: #454 of 656 in OH

Livability — Sidney

• Score: 76/100
• State rank: #220
• US rank: #3412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, OH
• County: Shelby · 44,840 people
• City population: 28,955
• Population (ZIP): 28,955
• Household income: $66,044
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 5.7

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 47,264 people
• By 2030: 45,935 · -2.8%
• By 2040: 42,786 · -9.5%
• By 2050: 38,981 · -17.5%
• By 2075: 30,225 · -36.1%
• By 2100: 21,273 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+64.8) · D 17.2% · R 82.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -36.4pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.2 2016: R+60.6 2012: R+46.0 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.62%
• Current HPI: 264.4532
• 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

+229.5% since first listed

6 events — show timeline

• 2026-05-26 Listed $145,000 FSBO.com
• 2011-05-27 Sold (MLS) $9,000 Dayton MLS
• 2011-05-27 Sold (MLS) $9,000 Dayton MLS
• 2011-04-19 Listed $12,000 Dayton MLS
• 1995-06-28 Sold (Public Records) $56,500 Public Records
• 1990-02-26 Sold (Public Records) $44,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,164 · -1.4% YoY. Source: county tax records.