303 Walnut St. St · Belle Center, OH 43310

$115,000

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 133 Days on market

Built 1920 6,000 sqft lot $100/sqft · 24% below area Est $152k · 24% 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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Schools +5.6/10.0
• 1% rule +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

Key facts

• Craft room
• Off street parking
• Huge detached garage

Tags

• HUGE DETACHED GARAGE
• CRAFT ROOM
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/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 $109k (5.3% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#616 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, schools F, amenities F.
• Benjamin Logan Local (rural): math 64% / reading 66% proficiency, ranked #197 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 24 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y ago; this cycle's ask has dropped $45k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 8.8

CMA / ARV

• ARV (median comp): $151,693
• List price: $115,000
• Delta: -24.19%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Walnut St	0.09mi	3/1.0 (+1)	1,040 (-10%)	9mo	$150,000	$144	67
307 S Elizabeth St	0.37mi	2/1.0	1,133 (-2%)	19mo	$165,000	$146	64
108 E Torrence St	0.26mi	2/1.0	1,223 (+6%)	17mo	$133,400	$109	64
309 E Buckeye St	0.41mi	2/1.0	1,160 (+1%)	19mo	$135,000	$116	64
208 E Main St	0.10mi	3/1.0 (+1)	994 (-14%)	10mo	$132,000	$133	60
303 W Buckeye St	0.37mi	3/1.0 (+1)	1,008 (-12%)	13mo	$180,000	$179	47
418 E Buckeye St	0.30mi	3/1.5 (+1)	982 (-15%)	14mo	$155,000	$158	42

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: -10.7%
• Equity multiple: 0.61×
• Total profit: $-12,546
• Equity at exit: $17,147

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-3,090
• Equity at exit: $9,943

Cash invested: $32,200 (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 43310

• Home prices YoY: -10.2%
• Active inventory: 24
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,089 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$113 /mo · $1,360/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $96

Break-even live

Break-even rent $968

Max offer price $115,000

Occupancy floor 86%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-05-12
   status Active 328-char remark

   Show marketing remark (328 chars)

   Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

2. 2026-05-02
   historical Active Under Contract 328-char remark

   Show marketing remark (328 chars)

   Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

3. 2026-04-20
   price $115,000 328-char remark

   Show marketing remark (328 chars)

   Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

4. 2026-04-10
   price $149,900 328-char remark

   Show marketing remark (328 chars)

   Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

5. 2026-01-13
   listed $160,000 Active 328-char remark

   Show marketing remark (328 chars)

   Single story 3 bedroom home , 1 bath in Belle Center. Located on a quiet street. Huge 2 car detached garage with separate small room that could be a craft room, tool room, or whatever you want to make it! Off street parking. Re-decorate to your own taste and you will have a comfortable home just a 20 minute drive to the lake!

6. 2021-09-21
   soldstatus $95,000 243-char remark

   Show marketing remark (243 chars)

   Schedule today to see this adorable, ranch styled home in Ben Logan S. D. ! Central air was added in 2020, water heater/2019, insulated basement, resealed roof/2019. Plenty of storage with this 2 1/2 garage. Won"t last long!, Under 1 Acre

7. 2021-09-21
   soldstatus $95,000

   Show marketing remark (243 chars)

   Schedule today to see this adorable, ranch styled home in Ben Logan S. D. ! Central air was added in 2020, water heater/2019, insulated basement, resealed roof/2019. Plenty of storage with this 2 1/2 garage. Won"t last long!, Under 1 Acre

8. 2021-08-05
   listed $89,900 243-char remark

   Show marketing remark (243 chars)

   Schedule today to see this adorable, ranch styled home in Ben Logan S. D. ! Central air was added in 2020, water heater/2019, insulated basement, resealed roof/2019. Plenty of storage with this 2 1/2 garage. Won"t last long!, Under 1 Acre

9. 2019-05-20
   soldstatus $73,000
10. 2019-05-17
    soldstatus $74,900
11. 2019-05-17
    soldstatus $73,000
12. 2018-11-14
    listed $76,900
13. 2018-11-07
    listed $76,900
14. 2017-10-20
    soldstatus $37,500
15. 2017-07-13
    listed $42,900
16. 2017-07-13
    listed $42,900
17. 2014-08-16
    historical
18. 2014-08-15
    historical
19. 2013-11-18
    listed $47,500
20. 2013-11-18
    listed $47,500
21. 2007-11-07
    soldstatus $57,000
22. 2007-10-07
    soldstatus $57,000
23. 2007-09-11
    listed $64,000
24. 2007-09-07
    historical
25. 2006-12-07
    listed $64,000
26. 2006-12-05
    historical
27. 2006-06-05
    listed $64,000
28. 2006-06-05
    listed $67,500
29. 1993-11-08
    soldstatus $26,250

ⓘ 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: $1,360 · $113/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$217/yr (+$18/mo · 15.9%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $13,063
• − Mortgage interest: −$6,442
• − Property taxes: −$1,360
• − Insurance: −$575
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$3,345
• Taxable loss: −$749
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $1,328/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: Benjamin Logan Local
• NCES district ID: 3904807
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 66% ▼ -3.00%
• Median HH income: $59,496
• Composite: 56.13/100
• National rank: #1181
• State rank: #197 of 656 in OH

Livability — Belle Center

• Score: 67/100
• State rank: #616
• US rank: #10635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belle Center, OH
• County: Hardin · 33,287 people
• Population (ZIP): 3,090
• Household income: $69,207
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 8.0

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Serbian 4% Slovak 4%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.87%
• Current HPI: 263.8773
• 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

+338.1% since first listed

29 events — show timeline

• 2026-05-12 Relisted — WCARE
• 2026-05-02 Contingent — WCARE
• 2026-04-20 Price Changed $115,000 WCARE
• 2026-04-10 Price Changed $149,900 WCARE
• 2026-01-13 Listed $160,000 WCARE
• 2021-09-21 Sold (Public Records) $95,000 Public Records
• 2021-09-21 Sold (MLS) $95,000 WCARE
• 2021-08-05 Listed $89,900 WCARE
• 2019-05-20 Sold (Public Records) $73,000 Public Records
• 2019-05-17 Sold (MLS) $73,000 WRIST
• 2019-05-17 Sold (MLS) $74,900 WCARE
• 2018-11-14 Listed $76,900 WCARE
• 2018-11-07 Listed $76,900 WRIST
• 2017-10-20 Sold (MLS) $37,500 WRIST
• 2017-07-13 Listed $42,900 WRIST
• 2017-07-13 Listed $42,900 CBRMLS
• 2014-08-16 Listing Removed — CBRMLS
• 2014-08-15 Listing Removed — WRIST
• 2013-11-18 Listed $47,500 WRIST
• 2013-11-18 Listed $47,500 CBRMLS
• 2007-11-07 Sold (MLS) $57,000 CBRMLS
• 2007-10-07 Sold (MLS) $57,000 WRIST
• 2007-09-11 Listed $64,000 WRIST
• 2007-09-07 Listing Removed — WRIST
• 2006-12-07 Listed $64,000 WRIST
• 2006-12-05 Listing Removed — WRIST
• 2006-06-05 Listed $67,500 WRIST
• 2006-06-05 Listed $64,000 CBRMLS
• 1993-11-08 Sold (Public Records) $26,250 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,360 · +17.9% YoY. Source: county tax records.