427 S Main St · Delphos, OH 45833

$105,000

3 bd · 1.0 ba · 1,076 sqft · SingleFamily public records · 3 Days on market

Built 1920 7,062 sqft lot Est $140k · 25% under

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Why this score? — see what drove the C+ 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• Schools +6.4/10.0
• 1% rule +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 427 S Main Street Delphos Ohio. This home is cozy that could use a little love. Been occupied by same family since 1972. It offers 3 beds, 1 bath, large living room, main level laundry, gas forced air heat & central air conditioning, 2 car detached garage.

Key facts

• 7,062 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Lot dimensions approximately 66 x 107
• Financial info: Annual property tax listed (amount not included per instructions)
• HOA & community: No HOA information provided

Exterior

• Parking: Detached 2-car garage
• Security: No security features provided
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Single-family residence; One level; Residential zoning; Property listed in fixer condition
• Construction: Vinyl siding; Block foundation; Built with block basement
• Exterior features: Front porch; Garage(s) on property

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom counts not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Drapes on windows; Block partial basement
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $-317 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $49k (53.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (0.5% below list).
• Recommended offer: $49k (53.4% below list) — sets the bar for cash-flow.
• Cap rate 7.9% vs local median 3.9% in Delphos — 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 72/100 on livability (#378 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Delphos City (town): math 77% / reading 75% proficiency, ranked #91 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 active listings in the ZIP; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,942 (53.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $139,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 S Washington St	0.16mi	3/1.0	1,116 (+4%)	7mo	$33,000	$30	81
310 S Pierce St	0.25mi	2/1.0 (-1)	1,067 (-1%)	7mo	$96,000	$90	76
629 N Main St	0.67mi	3/1.0	1,060 (-2%)	2mo	$169,650	$160	64
620 Jackson St	0.40mi	2/1.0 (-1)	1,048 (-3%)	11mo	$110,000	$105	62
504 S Franklin St	0.20mi	3/1.0	1,228 (+14%)	10mo	$210,000	$171	58
534 N Bredeick St	0.67mi	3/1.0	1,104 (+3%)	9mo	$149,900	$136	57
903 E 3rd St	0.71mi	3/1.5	1,107 (+3%)	6mo	$139,000	$126	55
415 W Fifth St	0.60mi	3/2.0	1,140 (+6%)	8mo	$154,900	$136	51
832 Erie St	0.49mi	3/1.5	1,200 (+12%)	8mo	$156,500	$130	50
241 King St	0.58mi	3/2.0	1,196 (+11%)	3mo	$189,000	$158	48
604 W Sixth St	0.73mi	2/1.0 (-1)	1,131 (+5%)	6mo	$76,000	$67	48
224 Monroe St	0.61mi	2/1.0 (-1)	960 (-11%)	9mo	$124,500	$130	41

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: -39.9%
• Equity multiple: -0.26×
• Total profit: $-36,954
• Equity at exit: $15,656

10-year hold

• IRR: -60.1%
• Equity multiple: -0.94×
• Total profit: $-57,099
• Equity at exit: $9,078

Cash invested: $29,400 (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 45833

• Home prices YoY: -15.4%
• Active inventory: 16
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,044 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$44
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $-317

Break-even live

Break-even rent $1,446

Max offer price $48,942

Occupancy floor —

Sensitivity live

Price	-10% $-258	-5% $-288	+0% $-317	+5% $-347	+10% $-377
Rent	-10% $-400	-5% $-359	+0% $-317	+5% $-276	+10% $-235
Rate	-1.0pp $-264	-0.5pp $-291	base $-317	+0.5pp $-345	+1.0pp $-372

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $105,000 Active 3 DOM
2. 2026-06-21
   days on market $105,000 Active 2 DOM
3. 2026-06-18
   remarks 270-char remark
4. 2026-06-18
   listed $105,000 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: $1,051 · $88/mo
• Projected year-2 tax: $1,345 · $112/mo
• Expected delta: +$293/yr (+$24/mo · 27.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $12,533
• − Mortgage interest: −$5,882
• − Property taxes: −$1,051
• − Insurance: −$6,050
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$3,055
• Taxable loss: −$5,510
• Est. tax savings @ 24.0%: +$1,322
• After-tax cash flow: $-2,486/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: Delphos City
• NCES district ID: 3904388
• Math proficiency: 77% ▼ -8.00%
• Reading proficiency: 75% ▼ -8.00%
• Median HH income: $49,400
• Composite: 64.3/100
• National rank: #557
• State rank: #91 of 656 in OH

Livability — Delphos

• Score: 72/100
• State rank: #378
• US rank: #6142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delphos, OH
• County: Van Wert · 34,605 people
• City population: 10,822
• Population (ZIP): 10,822
• Household income: $66,919
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 2.2

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Serbian 2% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.82%
• Current HPI: 218.1437
• 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

• 2026-06-17 Listed $105,000 WCARE

Property tax history

+4.6%/yr

Latest (2025): $1,051 · +0.2% YoY. Source: county tax records.