22417 Road 128 · Oakwood, OH 45873

$85,000

4 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 61 Days on market

Built 1901 0.50 ac lot $54/sqft · 38% below area Est $159k · 47% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking at 22417 Road 128, Oakwood, OH 45873--a 4-bedroom, 1-bath home offering 1,808 sq ft and positioned on a nice lot in an excellent rural setting just minutes from SR 66 and a short drive to Defiance. This property is mid-renovation, making it an ideal fit for investors, flippers, or buyers looking to build instant equity through customization. With an asking price of $115,000, there is significant upside potential whether you're finishing the project for resale or creating a personalized home. Major value-add: the sale includes materials currently onsite--insulation, wood, drywall, OSB, windows, screws, doors, baseboard units, select plumbing and electrical components, shower/tub kit, cabinets, and enough Monroe Park laminate flooring to complete the entire home. Additional highlights include a metal roof approximately 10 years old, helping reduce one of the larger capital expense concerns. Whether you're looking for your next fix-and-flip or a rare chance to customize a home to your exact vision while gaining equity, this property checks the boxes. Financing options such as rehab loans may also make this a streamlined path to completion.

Key facts

• 0.5 acre lot
• Built 1901
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 1.9% in Oakwood — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Paulding Exempted Village (town): math 57% / reading 60% proficiency, ranked #319 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 22 units permitted in Paulding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Paulding County population projected at -27% 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $30k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 1901 — 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. 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 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: 1.49% ✓
• Cap rate: 12.91%
• Cash-on-cash: 23.62%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (median comp): $159,471
• List price: $85,000
• Delta: -46.70%
• Verdict: UNDERPRICED
• Comps: 16 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.7%
• Equity multiple: 1.67×
• Total profit: $16,044
• Equity at exit: $12,674

10-year hold

• IRR: 25.3%
• Equity multiple: 3.20×
• Total profit: $52,329
• Equity at exit: $7,349

Cash invested: $23,800 (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 45873

• Home prices YoY: -32.4%
• Active inventory: 5
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,270 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$54 /mo · $645/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $468

Break-even live

Break-even rent $677

Max offer price $85,000

Occupancy floor 58%

Sensitivity live

Price	-10% $516	-5% $492	+0% $468	+5% $444	+10% $420
Rent	-10% $368	-5% $418	+0% $468	+5% $519	+10% $569
Rate	-1.0pp $511	-0.5pp $490	base $468	+0.5pp $446	+1.0pp $424

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $85,000 Active 61 DOM
2. 2026-06-18
   days on market $85,000 Active 59 DOM
3. 2026-06-17
   days on market $85,000 Active 58 DOM
4. 2026-06-16
   days on market $85,000 Active 57 DOM
5. 2026-06-15
   days on market $85,000 Active 56 DOM
6. 2026-06-13
   days on market $85,000 Active 54 DOM
7. 2026-06-12
   days on market $85,000 Active 53 DOM
8. 2026-06-09
   days on market $85,000 Active 50 DOM
9. 2026-06-08
   days on market $85,000 Active 49 DOM
10. 2026-06-08
    days on market $85,000 Active 48 DOM
11. 2026-06-07
    days on market $85,000 Active 47 DOM
12. 2026-06-04
    days on market $85,000 Active 44 DOM
13. 2026-06-02
    days on market $85,000 Active 43 DOM
14. 2026-06-01
    days on market $85,000 Active 42 DOM
15. 2026-05-31
    days on market $85,000 Active 41 DOM
16. 2026-04-20
    listed $115,000 Active 1178-char remark

    Show marketing remark (1178 chars)

    Opportunity is knocking at 22417 Road 128, Oakwood, OH 45873--a 4-bedroom, 1-bath home offering 1,808 sq ft and positioned on a nice lot in an excellent rural setting just minutes from SR 66 and a short drive to Defiance. This property is mid-renovation, making it an ideal fit for investors, flippers, or buyers looking to build instant equity through customization. With an asking price of $115,000, there is significant upside potential whether you're finishing the project for resale or creating a personalized home. Major value-add: the sale includes materials currently onsite--insulation, wood, drywall, OSB, windows, screws, doors, baseboard units, select plumbing and electrical components, shower/tub kit, cabinets, and enough Monroe Park laminate flooring to complete the entire home. Additional highlights include a metal roof approximately 10 years old, helping reduce one of the larger capital expense concerns. Whether you're looking for your next fix-and-flip or a rare chance to customize a home to your exact vision while gaining equity, this property checks the boxes. Financing options such as rehab loans may also make this a streamlined path to completion.

17. 2026-04-20
    listed $115,000 Active 1178-char remark

    Show marketing remark (1178 chars)

    Opportunity is knocking at 22417 Road 128, Oakwood, OH 45873--a 4-bedroom, 1-bath home offering 1,808 sq ft and positioned on a nice lot in an excellent rural setting just minutes from SR 66 and a short drive to Defiance. This property is mid-renovation, making it an ideal fit for investors, flippers, or buyers looking to build instant equity through customization. With an asking price of $115,000, there is significant upside potential whether you're finishing the project for resale or creating a personalized home. Major value-add: the sale includes materials currently onsite--insulation, wood, drywall, OSB, windows, screws, doors, baseboard units, select plumbing and electrical components, shower/tub kit, cabinets, and enough Monroe Park laminate flooring to complete the entire home. Additional highlights include a metal roof approximately 10 years old, helping reduce one of the larger capital expense concerns. Whether you're looking for your next fix-and-flip or a rare chance to customize a home to your exact vision while gaining equity, this property checks the boxes. Financing options such as rehab loans may also make this a streamlined path to completion.

18. 2025-10-14
    price $57,000
19. 2024-11-25
    status Pending
20. 2024-11-22
    soldstatus $57,000 Closed
21. 2024-11-22
    soldstatus $57,000
22. 2024-10-30
    historical Contingent
23. 2024-10-28
    price $62,000
24. 2024-10-21
    listed $70,000 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: $645 · $54/mo
• Projected year-2 tax: $985 · $82/mo
• Expected delta: +$341/yr (+$28/mo · 52.8%)

ⓘ 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 ≥99°F today · 17 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: $15,240
• − Mortgage interest: −$4,761
• − Property taxes: −$645
• − Insurance: −$425
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$2,473
• Taxable income: $4,497
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $4,541/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: Paulding Exempted Village
• NCES district ID: 3904557
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $45,105
• Composite: 49.36/100
• National rank: #2017
• State rank: #319 of 656 in OH

Livability — Oakwood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Paulding · 17,531 people
• City population: 32,301
• Population (ZIP): 2,232
• Household income: $66,771
• Rent vs Own: 17.4% rent · 82.6% own

Population outlook (Paulding County) Hauer SSP2

• Today (2025): 17,539 people
• By 2030: 16,627 · -5.2%
• By 2040: 14,716 · -16.1%
• By 2050: 12,853 · -26.7%
• By 2075: 9,142 · -47.9%
• By 2100: 6,313 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Romanian 4% Slovak 2% English 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Paulding

• 2024 margin: Solid R (+56.2) · D 21.4% · R 77.7%
• 2008→2024 swing: -44.4pp toward R · 2008: -11.8pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+51.5 2016: R+48.5 2012: R+20.4 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.04%
• Current HPI: 162.9737
• 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

+64.3% since first listed

9 events — show timeline

• 2026-04-20 Listed $115,000 WCARE
• 2026-04-20 Listed $115,000 NORIS
• 2025-10-14 Price Changed $57,000 NORIS
• 2024-11-25 Pending — NORIS
• 2024-11-22 Sold (Public Records) $57,000 Public Records
• 2024-11-22 Sold (MLS) $57,000 NORIS
• 2024-10-30 Contingent — NORIS
• 2024-10-28 Price Changed $62,000 NORIS
• 2024-10-21 Listed $70,000 NORIS

Property tax history

-0.2%/yr

Latest (2025): $645 · +35.7% YoY. Source: county tax records.