1145 E Church St · Marion, OH 43302

$149,900

2 bd · 1.0 ba · 1,468 sqft · MultiFamily public records · 67 Days on market

Built 1924 5,227 sqft lot $102/sqft · 22% below area Est $193k · 22% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity with strong rental potential! This well-maintained duplex features two spacious units, both ready for tenants. The first-floor unit offers a large 1 bedroom and 1 full bath, highlighted by a large kitchen and comfortable living space. The second-floor unit is a flexible 1-2 bedroom layout. Both units include appliances, and utilities are already separated, making management simple and efficient. The property also features washer and dryer hookups in the second-floor unit as well as in the basement for added convenience. Recent updates include new flooring, updated electric panels, new tankless water heaters, new water supply lines and fresh paint throughout, allowing for immediate occupancy. Nothing needs completed prior to tenant moving in! Based on current market rents, area comps support $1,700+ per month in total rental income, making this a strong addition to any investment portfolio.

Key facts

• Flexible layout
• Large kitchen
• Appliances included

Tags

• WELL MAINTAINED DUPLEX
• LARGE KITCHEN
• COMFORTABLE LIVING SPACE
• FLEXIBLE LAYOUT
• APPLIANCES INCLUDED
• UTILITIES SEPARATED

🏷️ Possibly a rental listed for sale. The $149,900 price doesn't fit this home's estimated sale value (~$193,271) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 6.9% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 210 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% 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 $4k of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1924 — 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 D-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. 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?
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 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: 1.20% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.70%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

• ARV (median comp): $193,271
• List price: $149,900
• Delta: -22.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 S Seffner Ave	0.52mi	3/— (+1)	1,520 (+4%)	8mo	$150,000	$99	58
223 N Seffner Ave	0.62mi	3/— (+1)	1,486 (+1%)	21mo	$105,000	$71	47

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,790
• Equity at exit: $22,351

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $35,165
• Equity at exit: $12,961

Cash invested: $41,972 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 210
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$158 /mo · $1,893/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $409

Break-even live

Break-even rent $1,274

Max offer price $149,900

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,792
Total (2 units)			$1,792

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $149,900 Active 67 DOM
2. 2026-06-18
   days on market $149,900 Active 66 DOM
3. 2026-06-17
   days on market $149,900 Active 65 DOM
4. 2026-06-16
   days on market $149,900 Active 64 DOM
5. 2026-06-15
   days on market $149,900 Active 63 DOM
6. 2026-06-14
   days on market $149,900 Active 61 DOM
7. 2026-06-12
   days on market $149,900 Active 60 DOM
8. 2026-06-09
   days on market $149,900 Active 57 DOM
9. 2026-06-08
   days on market $149,900 Active 56 DOM
10. 2026-06-07
    days on market $149,900 Active 55 DOM
11. 2026-06-05
    days on market $149,900 Active 52 DOM
12. 2026-06-03
    days on market $149,900 Active 51 DOM
13. 2026-06-02
    days on market $149,900 Active 50 DOM
14. 2026-06-01
    days on market $149,900 Active 49 DOM
15. 2026-05-31
    days on market $149,900 Active 48 DOM
16. 2026-05-30
    days on market $149,900 Active 47 DOM
17. 2026-05-06
    price $149,900 934-char remark

    Show marketing remark (934 chars)

    Great investment opportunity with strong rental potential! This well-maintained duplex features two spacious units, both ready for tenants. The first-floor unit offers a large 1 bedroom and 1 full bath, highlighted by a large kitchen and comfortable living space. The second-floor unit is a flexible 1-2 bedroom layout. Both units include appliances, and utilities are already separated, making management simple and efficient. The property also features washer and dryer hookups in the second-floor unit as well as in the basement for added convenience. Recent updates include new flooring, updated electric panels, new tankless water heaters, new water supply lines and fresh paint throughout, allowing for immediate occupancy. Nothing needs completed prior to tenant moving in! Based on current market rents, area comps support $1,700+ per month in total rental income, making this a strong addition to any investment portfolio.

18. 2026-03-11
    listed $159,900 Active 934-char remark

    Show marketing remark (934 chars)

    Great investment opportunity with strong rental potential! This well-maintained duplex features two spacious units, both ready for tenants. The first-floor unit offers a large 1 bedroom and 1 full bath, highlighted by a large kitchen and comfortable living space. The second-floor unit is a flexible 1-2 bedroom layout. Both units include appliances, and utilities are already separated, making management simple and efficient. The property also features washer and dryer hookups in the second-floor unit as well as in the basement for added convenience. Recent updates include new flooring, updated electric panels, new tankless water heaters, new water supply lines and fresh paint throughout, allowing for immediate occupancy. Nothing needs completed prior to tenant moving in! Based on current market rents, area comps support $1,700+ per month in total rental income, making this a strong addition to any investment portfolio.

19. 2021-05-22
    historical
20. 2021-05-22
    historical
21. 2021-05-22
    historical
22. 2021-05-22
    historical
23. 2021-05-20
    soldstatus $90,000
24. 2017-09-24
    listed $65,900
25. 2017-04-14
    listed $69,900
26. 2016-06-11
    listed $72,000
27. 2007-08-27
    soldstatus $70,000
28. 2007-08-21
    soldstatus $70,000
29. 2006-11-24
    listed $79,900
30. 2006-11-24
    listed $79,900

ⓘ 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: $1,893 · $158/mo
• Projected year-2 tax: $2,116 · $176/mo
• Expected delta: +$222/yr (+$19/mo · 11.8%)

ⓘ 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 ≥100°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: $21,504
• − Mortgage interest: −$8,397
• − Property taxes: −$1,893
• − Insurance: −$750
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − Depreciation: −$4,361
• Taxable income: $2,663
• Est. tax owed @ 24.0%: −$639
• After-tax cash flow: $4,273/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

+87.6% since first listed

14 events — show timeline

• 2026-05-06 Price Changed $149,900 CBRMLS
• 2026-03-11 Listed $159,900 CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-20 Sold (Public Records) $90,000 Public Records
• 2017-09-24 Listed $65,900 CBRMLS
• 2017-04-14 Listed $69,900 CBRMLS
• 2016-06-11 Listed $72,000 CBRMLS
• 2007-08-27 Sold (MLS) $70,000 CBRMLS
• 2007-08-21 Sold (Public Records) $70,000 Public Records
• 2006-11-24 Listed $79,900 CBRMLS
• 2006-11-24 Listed $79,900 CBRMLS

Property tax history

+6.0%/yr

Latest (2025): $1,893 · +0.0% YoY. Source: county tax records.