903 Columbus Ave · Ashtabula, OH 44004

$115,700

4 bd · 2.0 ba · 2,376 sqft · MultiFamily public records · 1 Days on market

Built 1915 6,098 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 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

READY to go! Long term tenants in place; month to month. location Convenient; near Ashtabula Marina , Bridge St , Lakeview Park, and more. Mechancals all functional; add some sprucing up and enjoy by living in one unit and keep renting one out to pay the way. Or just keep the rent in a stable neighborhood. Electrical panel and furnace replaced and roof in 2024.

Key facts

• Furnace replaced
• Near lakeview park
• Near bridge st

Tags

• NEAR ASHTABULA MARINA
• NEAR BRIDGE ST
• NEAR LAKEVIEW PARK
• ELECTRICAL PANEL REPLACED
• FURNACE REPLACED
• ROOF IN 2024

Property features AI

Finance

• Financial info: Annual taxes listed (2025)

Exterior

• Parking: Driveway
• Utilities: Public water service; Public sewer service
• Home design: 2-story home; Above-grade living area about 2,376
• Construction: Brick construction; Asphalt/fiberglass roof
• Exterior features: Public water; Public sewer; Lot size approximately 0.14 acres

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Has heating
• Interior features: Partial basement; Total of 8 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $116k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $116k).
• Cap rate 24.4% vs local median 8.2% in Ashtabula — 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 71/100 on livability (#420 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools C-, amenities F, commute F.
• Ashtabula Area City (town): math 24% / reading 35% proficiency, ranked #588 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 162 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• At $3,200/mo this rent would consume 78% of the median local household income ($50k/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 $800 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% 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 $32k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $45k; list at $116k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,700

Questions for the listing agent

1. Built in 1915 — 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. 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.
4. 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.
5. 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: 2.77% ✓
• Cap rate: 24.38%
• Cash-on-cash: 64.61%
• DSCR: 3.87
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 63.7%
• Equity multiple: 3.85×
• Total profit: $92,375
• Equity at exit: $17,251

10-year hold

• IRR: 68.2%
• Equity multiple: 7.90×
• Total profit: $223,635
• Equity at exit: $10,004

Cash invested: $32,396 (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 44004

• Home prices YoY: -30.5%
• Active inventory: 162
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,200 medium
• Mortgage (P&I): −$607
• Tax from tax record: −$129 /mo · $1,547/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $1,744

Break-even live

Break-even rent $992

Max offer price $115,700

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,200
Total (2 units)			$3,200

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: $28,925
• Closing costs: $3,471
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 365-char remark
2. 2026-06-17
   listed $115,700 Active 1 DOM

ⓘ 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: $1,547 · $129/mo
• Projected year-2 tax: $1,676 · $140/mo
• Expected delta: +$129/yr (+$11/mo · 8.3%)

ⓘ 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 ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,400
• − Mortgage interest: −$6,481
• − Property taxes: −$1,547
• − Insurance: −$578
• − Repairs & maintenance: −$3,072
• − Management: −$3,072
• − Depreciation: −$3,366
• Taxable income: $20,284
• Est. tax owed @ 24.0%: −$4,868
• After-tax cash flow: $16,061/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: Ashtabula Area City
• NCES district ID: 3904351
• Math proficiency: 24% ▼ -27.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $34,812
• Composite: 24.3/100
• National rank: #7712
• State rank: #588 of 656 in OH

Livability — Ashtabula

• Score: 71/100
• State rank: #420
• US rank: #6883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashtabula, OH
• County: Ashtabula · 97,617 people
• City population: 31,076
• Metro: Cleveland, OH
• Population (ZIP): 31,076
• Household income: $49,507
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 14.1

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Romanian 4% Iranian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.51%
• Current HPI: 260.7146
• 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

+542.8% since first listed

13 events — show timeline

• 2026-06-17 Listed $115,700 MLSNOW
• 2022-01-27 Sold (Public Records) $45,000 Public Records
• 2011-11-01 Listing Removed — MLSNOW
• 2011-05-16 Listed $72,000 MLSNOW
• 2009-06-19 Listing Removed — MLSNOW
• 2008-12-19 Listed $84,900 MLSNOW
• 2007-01-15 Listing Removed — MLSNOW
• 2005-12-09 Listed $88,500 MLSNOW
• 2005-07-07 Listing Removed — MLSNOW
• 2005-01-06 Listed $88,500 MLSNOW
• 2001-08-30 Sold (Public Records) $70,000 Public Records
• 1997-10-31 Sold (Public Records) $72,000 Public Records
• 1993-04-30 Sold (Public Records) $18,000 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,547 · +37.5% YoY. Source: county tax records.