802 Warder St · Springfield, OH 45503

$165,000

3 bd · 1.0 ba · 2,060 sqft · SingleFamily public records · 89 Days on market

Built 1903 9,842 sqft lot $80/sqft · 60% above area ↓ 11% since listing

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

Key facts

• Formal dining room
• First floor laundry
• Full basement

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FORMAL DINING ROOM
• FIRST FLOOR LAUNDRY
• UPDATED BATHROOM FIXTURES
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Zoned schools: Lagonda Elementary School (math 16% / reading 25%, grade F, #1,279 of 1,584 statewide, top 81%, 363 students, 0% FRL); Schaefer Middle School (math 20% / reading 27%, grade F, #597 of 654 statewide, top 92%, 268 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 147 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 89 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

• ARV (median comp): $103,363
• List price: $165,000
• Delta: 59.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 E Northern Ave	0.74mi	3/1.0	2,043 (-1%)	3mo	$131,000	$64	62
614 Mason St	0.49mi	4/2.0 (+1)	1,987 (-4%)	8mo	$165,000	$83	55
937 Avondale Ave	0.24mi	3/2.0	1,793 (-13%)	10mo	$169,900	$95	55
315 E Madison Ave	0.57mi	4/2.0 (+1)	2,116 (+3%)	7mo	$145,000	$69	54
1634 Edwards Ave	0.73mi	3/2.0	1,903 (-8%)	2mo	$126,400	$66	47
380 Stanton Ave	0.49mi	4/1.5 (+1)	1,872 (-9%)	12mo	$130,000	$69	45
520 E Northern Ave	0.67mi	4/2.0 (+1)	1,854 (-10%)	7mo	$75,000	$40	37
1417 E High St	0.65mi	3/1.5	2,325 (+13%)	12mo	$105,000	$45	36
1570 Warder St	0.59mi	3/2.0	1,766 (-14%)	11mo	$12,500	$7	36
28 S Florence St	0.64mi	2/2.0 (-1)	1,796 (-13%)	8mo	$49,900	$28	33
224 Glenn Ave	0.70mi	4/2.0 (+1)	1,794 (-13%)	7mo	$199,000	$111	31
1121 Elm St	0.73mi	4/1.0 (+1)	1,754 (-15%)	8mo	$187,500	$107	29

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-9,084
• Equity at exit: $24,602

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $14,773
• Equity at exit: $14,266

Cash invested: $46,200 (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 45503

• Active inventory: 147
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$865
• Tax from tax record: −$80 /mo · $959/yr
• Insurance: −$69
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $277

Break-even live

Break-even rent $1,354

Max offer price $165,000

Occupancy floor 79%

Sensitivity live

Price	-10% $371	-5% $324	+0% $277	+5% $231	+10% $184
Rent	-10% $143	-5% $210	+0% $277	+5% $345	+10% $412
Rate	-1.0pp $361	-0.5pp $319	base $277	+0.5pp $235	+1.0pp $191

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	13d	1	0.51mi
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	45d	1	0.83mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	16d	1	1.07mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	25d	1	1.33mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	21d	1	1.34mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	13d	1	1.36mi
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	13d	1	1.40mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	13d	1	1.41mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	13d	1	1.43mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	23d	1	1.47mi

Listing history 8 events

1. 2026-05-09
   status Pending 1347-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

2. 2026-05-09
   status Pending 1352-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

3. 2026-03-31
   price $165,000 1347-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

4. 2026-03-31
   price $165,000 1352-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

5. 2026-02-28
   price $179,900 1352-char remark

   Show marketing remark (1347 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

6. 2026-02-28
   price $179,900 1347-char remark

   Show marketing remark (1347 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

7. 2026-02-06
   listed $185,000 Active 1347-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

8. 2026-02-06
   listed $185,000 Active 1352-char remark

   Show marketing remark (1352 chars)

   This charming Traditional home showcases classic design elements and functional room layouts. The property offers comfortable living areas with enduring architectural details throughout. This three-bedroom, one-bathroom home features granite countertops and stainless steel appliances in the culinary area. The formal dining room provides elegant entertaining space, while first floor laundry adds practical convenience. Updated bathroom fixtures showcase thoughtful improvements throughout. The full basement offers valuable additional space for storage or activities. An outdoor deck extends living areas for relaxation and gatherings. The fenced backyard creates a secure, private retreat perfect for outdoor enjoyment. A detached garage provides convenient storage and protection for vehicles. The high-efficiency furnace ensures comfortable temperatures while managing utility costs effectively. Located in an established area with access to various neighborhoods, each offering distinct character and local attractions. Residents can explore different communities while enjoying the comfort and functionality of this well-appointed property. Contact us today to schedule a viewing and discover why this Traditional home offers the perfect blend of classic design and modern comfort for your lifestyle. This is a Fannie Mae HomePath property.

ⓘ 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: $959 · $80/mo
• Projected year-2 tax: $1,767 · $147/mo
• Expected delta: +$807/yr (+$67/mo · 84.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,460
• − Mortgage interest: −$9,243
• − Property taxes: −$959
• − Insurance: −$1,492
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$4,800
• Taxable income: $693
• Est. tax owed @ 24.0%: −$166
• After-tax cash flow: $3,163/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 · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

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: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 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: ▼ -211.92%
• Current HPI: 257.5694
• 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

-10.8% since first listed

8 events — show timeline

• 2026-05-09 Pending — Dayton MLS
• 2026-05-09 Pending — WRIST
• 2026-03-31 Price Changed $165,000 Dayton MLS
• 2026-03-31 Price Changed $165,000 WRIST
• 2026-02-28 Price Changed $179,900 WRIST
• 2026-02-28 Price Changed $179,900 Dayton MLS
• 2026-02-06 Listed $185,000 WRIST
• 2026-02-06 Listed $185,000 Dayton MLS

Property tax history

+1.5%/yr

Latest (2025): $959 · +15.3% YoY. Source: county tax records.