512 Harter Ave · Mansfield, OH 44907

$104,500

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 10 Days on market

Built 1935 Est $134k · 22% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to Move in Cape Cod - 2 bedrooms with potential 3rd bedroom/office/walk-in closet off 2nd bedroom - Fresh paint, new kitchen and bathroom flooring, just cleaned carpets, and fresh landscaping

Key facts

• Updated breaker box
• Bonus space
• Fenced backyard

Tags

• BONUS SPACE
• HARDWOOD FLOORS
• UPDATED BREAKER BOX
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached garage (1 car); Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential; 2 stories
• Construction: Aluminum siding; Composition roof
• Exterior features: Garden; Fenced yard; Rolling slope, irregular and level lot features

Interior

• Kitchen: Refrigerator; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Refrigerator; Range; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $33 ($395/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 $89k (14.6% below list).
• Recommended offer: $89k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.2% in Mansfield — 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 (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 56 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $722 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $65k; list at $104k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,219 (14.6% below list)

Questions for the listing agent

1. Built in 1935 — 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. Crime grade is D 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $134,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Harter Ave	0.00mi	2/1.0	1,000 (0%)	0mo	$98,500	$99	100
151 Grover Ave	0.30mi	3/1.0 (+1)	1,029 (+3%)	3mo	$128,900	$125	74
201 Walter Ave	0.33mi	2/2.0	1,056 (+6%)	0mo	$156,900	$149	71
320 Bartley Ave	0.63mi	2/1.5	992 (-1%)	1mo	$146,500	$148	66
101 Chilton Ave	0.32mi	3/1.0 (+1)	1,092 (+9%)	3mo	$146,000	$134	62
530 Wood St	0.17mi	3/2.0 (+1)	1,126 (+13%)	0mo	$160,000	$142	62
96 Glenwood Hts	0.57mi	2/1.0	1,040 (+4%)	6mo	$95,000	$91	61
674 Hillgrove Ave	0.48mi	3/1.0 (+1)	1,062 (+6%)	6mo	$155,000	$146	57
133 Winwood Dr	0.37mi	2/2.0	864 (-14%)	3mo	$177,000	$205	53
151 Ohio St	0.48mi	2/1.0	1,126 (+13%)	5mo	$68,000	$60	52
273 Hammond Ave	0.61mi	3/1.0 (+1)	1,092 (+9%)	3mo	$134,900	$124	49
153 Ford St	0.70mi	1/1.0 (-1)	1,106 (+11%)	6mo	$37,000	$33	40

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-14,853
• Equity at exit: $15,581

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-10,303
• Equity at exit: $9,035

Cash invested: $29,260 (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 44907

• Active inventory: 56
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $892 high
• Mortgage (P&I): −$548
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $33

Break-even live

Break-even rent $850

Max offer price $104,500

Occupancy floor 91%

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Winwood Dr Mansfield, OH	2.0	1.0	700	$725	$1.04	43d	1	0.36mi
19 State St Mansfield, OH	3.0	1.0	1040	$995	$0.96	43d	1	0.38mi
147 Ford St Mansfield, OH	3.0	1.5	1286	$995	$0.77	43d	1	0.67mi
38 Baldwin Ave Apt 3 Mansfield, OH	1.0	1.0	800	$800	$1.00	43d	1	1.01mi
46 Bartley Ave Unit 46 1/2 Mansfield, OH	1.0	1.0	800	$750	$0.94	43d	1	1.01mi
275 Cliffbrook Dr Mansfield, OH	2.0	1.5	1200	$925	$0.77	43d	1	1.09mi
282 Cliffbrook Dr Mansfield, OH	3.0	1.0	912	$1,395	$1.53	43d	1	1.11mi
896 Brookfield Dr Mansfield, OH	2.0	1.0	770	$795	$1.03	43d	1	1.26mi

Listing history 6 events

1. 2026-05-18
   listed $104,500 Active
2. 2021-07-09
   soldstatus $64,900
3. 2021-07-08
   soldstatus $64,900 197-char remark

   Show marketing remark (197 chars)

   Ready to Move in Cape Cod - 2 bedrooms with potential 3rd bedroom/office/walk-in closet off 2nd bedroom - Fresh paint, new kitchen and bathroom flooring, just cleaned carpets, and fresh landscaping

4. 2021-04-29
   listed $64,900 197-char remark

   Show marketing remark (197 chars)

   Ready to Move in Cape Cod - 2 bedrooms with potential 3rd bedroom/office/walk-in closet off 2nd bedroom - Fresh paint, new kitchen and bathroom flooring, just cleaned carpets, and fresh landscaping

5. 2002-05-24
   soldstatus $51,000
6. 1994-05-09
   soldstatus $32,500

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $1,297 · $108/mo
• Expected delta: +$333/yr (+$28/mo · 34.6%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,706
• − Mortgage interest: −$5,854
• − Property taxes: −$964
• − Insurance: −$522
• − Repairs & maintenance: −$857
• − Management: −$857
• − Depreciation: −$3,040
• Taxable loss: −$1,387
• Est. tax savings @ 24.0%: +$333
• After-tax cash flow: $728/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland County · 43,943 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 16,349
• Household income: $48,008
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 637.0

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 13% Two or more races 8% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.54%
• Current HPI: 239.2549
• Rent YoY: —
• Metro: Mansfield, OH
• 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

+221.5% since first listed

6 events — show timeline

• 2026-05-18 Listed $104,500 MARMLS
• 2021-07-09 Sold (Public Records) $64,900 Public Records
• 2021-07-08 Sold (MLS) $64,900 MARMLS
• 2021-04-29 Listed $64,900 MARMLS
• 2002-05-24 Sold (Public Records) $51,000 Public Records
• 1994-05-09 Sold (Public Records) $32,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $964 · -2.2% YoY. Source: county tax records.