328-330 E Washington St · Lisbon, OH 44432

$235,000

8 bd · 2.0 ba · 3,104 sqft · MultiFamily public records · 115 Days on market

Built 1867 0.79 ac lot $76/sqft · 88% above area

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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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Charming Historical Investment Property! This duplex offers 4 bedrooms in each side, that is filled with classic old wood character and timeless appeal. This investment property combines vintage craftsmanship with warm home like feel that is perfect for tenants. Each side has their own basement with laundry hook up, 2 parking spaces in the back driveway and there is an extra lot to one side of the home. Live in one side and rent the other, to offset or even cover your mortgage. To retain the historic integrity of the home a covenant is being attached to the deed to require review of any changes to the structure. Both sides are currently rented, therefor you must give 24-hour notice to view. (only 1 side of the duplex is being shown in pictures, the other side is mirrored. )

Key facts

• Extra lot
• Parking spaces
• 0.79 acre lot

Tags

• HISTORICAL INVESTMENT PROPERTY
• CLASSIC OLD WOOD CHARACTER
• VINTAGE CRAFTSMANSHIP
• BASEMENT WITH LAUNDRY HOOK UP
• PARKING SPACES
• EXTRA LOT

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive. Per door: $393/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#453 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• Lisbon Exempted Village (town): math 47% / reading 55% proficiency, ranked #436 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mckinley Elementary School (math 62% / reading 62%, grade B, #590 of 1,584 statewide, top 41%, 355 students, 0% FRL); David Anderson Jr/Sr High School (math 32% / reading 51%, grade F, #515 of 781 statewide, top 66%, 392 students, 54% FRL) — zoned schools average 27% FRL vs 53% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 32 active listings in the ZIP; 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• At $2,797/mo this rent would consume 53% of the median local household income ($63k/yr) — 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Columbiana County population projected at -23% 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 $66k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1867 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1867 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.34%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (median comp): $125,176
• List price: $235,000
• Delta: 87.74%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $11,936
• Equity at exit: $35,039

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $74,572
• Equity at exit: $20,319

Cash invested: $65,800 (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 44432

• Home prices YoY: -24.8%
• Active inventory: 32
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,797 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $787

Break-even live

Break-even rent $1,801

Max offer price $235,000

Occupancy floor 67%

Sensitivity live

Price	-10% $920	-5% $853	+0% $787	+5% $720	+10% $654
Rent	-10% $566	-5% $676	+0% $787	+5% $897	+10% $1,008
Rate	-1.0pp $905	-0.5pp $846	base $787	+0.5pp $726	+1.0pp $664

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$2,796
Total (2 units)			$2,797

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $235,000 Active 115 DOM
2. 2026-06-21
   days on market $235,000 Active 114 DOM
3. 2026-06-18
   days on market $235,000 Active 112 DOM
4. 2026-06-17
   days on market $235,000 Active 111 DOM
5. 2026-06-16
   days on market $235,000 Active 110 DOM
6. 2026-06-15
   days on market $235,000 Active 109 DOM
7. 2026-06-13
   days on market $235,000 Active 107 DOM
8. 2026-06-12
   days on market $235,000 Active 106 DOM
9. 2026-06-09
   days on market $235,000 Active 103 DOM
10. 2026-06-08
    days on market $235,000 Active 102 DOM
11. 2026-06-08
    days on market $235,000 Active 101 DOM
12. 2026-06-07
    days on market $235,000 Active 100 DOM
13. 2026-06-04
    days on market $235,000 Active 97 DOM
14. 2026-06-02
    days on market $235,000 Active 96 DOM
15. 2026-06-01
    days on market $235,000 Active 95 DOM
16. 2026-05-31
    days on market $235,000 Active 94 DOM
17. 2026-02-26
    listed $235,000 Active 784-char remark

    Show marketing remark (784 chars)

    Charming Historical Investment Property! This duplex offers 4 bedrooms in each side, that is filled with classic old wood character and timeless appeal. This investment property combines vintage craftsmanship with warm home like feel that is perfect for tenants. Each side has their own basement with laundry hook up, 2 parking spaces in the back driveway and there is an extra lot to one side of the home. Live in one side and rent the other, to offset or even cover your mortgage. To retain the historic integrity of the home a covenant is being attached to the deed to require review of any changes to the structure. Both sides are currently rented, therefor you must give 24-hour notice to view. (only 1 side of the duplex is being shown in pictures, the other side is mirrored. )

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $2,390 · $199/mo
• Expected delta: +$1,276/yr (+$106/mo · 114.7%)

ⓘ 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 ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,564
• − Mortgage interest: −$13,164
• − Property taxes: −$1,113
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,685
• − Management: −$2,685
• − Depreciation: −$6,836
• Taxable income: $5,906
• Est. tax owed @ 24.0%: −$1,417
• After-tax cash flow: $8,022/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: Lisbon Exempted Village
• NCES district ID: 3904545
• Math proficiency: 47% ▼ -20.00%
• Reading proficiency: 55% ▼ -9.00%
• Median HH income: $40,249
• Composite: 42.66/100
• National rank: #3177
• State rank: #436 of 656 in OH

Livability — Lisbon

• Score: 70/100
• State rank: #453
• US rank: #7377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lisbon, OH
• County: Columbiana · 99,532 people
• Population (ZIP): 12,029
• Household income: $63,173
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 7.7

Population outlook (Columbiana County) Hauer SSP2

• Today (2025): 98,353 people
• By 2030: 94,225 · -4.2%
• By 2040: 85,169 · -13.4%
• By 2050: 76,157 · -22.6%
• By 2075: 58,451 · -40.6%
• By 2100: 42,805 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Iranian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Columbiana

• 2024 margin: Solid R (+49.0) · D 25.1% · R 74.1%
• 2008→2024 swing: -41.4pp toward R · 2008: -7.6pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+44.9 2016: R+41.6 2012: R+12.0 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.65%
• Current HPI: 229.991
• 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

1 event — show timeline

• 2026-02-26 Listed $235,000 MLSNOW

Property tax history

+5.8%/yr

Latest (2025): $1,113 · +124.9% YoY. Source: county tax records.