1606 Highland Ave · Springfield, OH 45503

$49,900

2 bd · 2.0 ba · 1,609 sqft · SingleFamily public records · 7 Days on market

Built 1909 5,227 sqft lot $31/sqft · 67% below area ↓ 38% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Asset #739504. Must have approval letter or proof of funds with offer. Addendum will be signed after acceptance. Seller's title company to hold earnest money. Property being sold in as-is condition. Agent, see Broker Remarks.

Key facts

• 5,227 sq ft lot
• Built 1909
• Listed 7 days

Property features AI

Exterior

• Utilities: Supplied water; Public sewer; Sewer connected
• Home design: Single-family residence; Residential property
• Construction: Built in 1909; Aluminum and vinyl siding
• Exterior features: Porch; Fenced yard; Residential lot

Interior

• Kitchen: Gas water heater
• Bedrooms: Four bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Seven total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 17.9% vs local median 4.8% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $32k; list at $50k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1909 — 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 F 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. 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.
5. 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.
6. 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: 2.10% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.62%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (median comp): $150,720
• List price: $49,900
• Delta: -66.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 Highland Ave	0.03mi	3/2.0 (+1)	1,536 (-4%)	7mo	$122,000	$79	80
1661 Prospect St	0.19mi	3/2.0 (+1)	1,548 (-4%)	3mo	$185,000	$120	78
28 S Florence St	0.17mi	2/2.0	1,796 (+12%)	8mo	$49,900	$28	66
248 S Hubert Ave	0.36mi	3/1.0 (+1)	1,504 (-6%)	1mo	$65,000	$43	62
2256 Hillside Ave	0.61mi	3/2.0 (+1)	1,573 (-2%)	7mo	$50,000	$32	57
1823 Edwards Ave	0.72mi	3/2.0 (+1)	1,648 (+2%)	1mo	$153,000	$93	57
372 S Douglas Ave	0.57mi	2/1.0	1,529 (-5%)	8mo	$90,000	$59	54
718 N Florence St	0.40mi	2/1.5	1,368 (-15%)	6mo	$119,900	$88	50
351 S Clairmont Ave	0.62mi	3/1.5 (+1)	1,522 (-5%)	8mo	$100,000	$66	49
1568 Lagonda Ave	0.59mi	2/1.0	1,440 (-10%)	7mo	$100,000	$69	46
273 S Clairmont Ave	0.56mi	3/1.0 (+1)	1,440 (-10%)	3mo	$198,000	$138	44
937 Avondale Ave	0.51mi	3/2.0 (+1)	1,793 (+11%)	10mo	$169,900	$95	44

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: 38.2%
• Equity multiple: 2.63×
• Total profit: $22,798
• Equity at exit: $7,440

10-year hold

• IRR: 44.7%
• Equity multiple: 5.27×
• Total profit: $59,663
• Equity at exit: $4,314

Cash invested: $13,972 (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 45503

• Active inventory: 142
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $485

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 49%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	1d	1	0.29mi

Listing history 5 events

1. 2026-05-14
   status Pending 346-char remark
2. 2026-05-07
   listed $49,900 Active 346-char remark
3. 2010-08-20
   soldstatus $21,000 225-char remark

   Show marketing remark (225 chars)

   Asset #739504. Must have approval letter or proof of funds with offer. Addendum will be signed after acceptance. Seller's title company to hold earnest money. Property being sold in as-is condition. Agent, see Broker Remarks.

4. 2010-07-08
   listed $23,500 225-char remark

   Show marketing remark (225 chars)

   Asset #739504. Must have approval letter or proof of funds with offer. Addendum will be signed after acceptance. Seller's title company to hold earnest money. Property being sold in as-is condition. Agent, see Broker Remarks.

5. 2004-09-14
   soldstatus $51,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,600
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$1,452
• Taxable income: $5,339
• Est. tax owed @ 24.0%: −$1,281
• After-tax cash flow: $4,534/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• 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

-38.2% since first listed

6 events — show timeline

• 2026-06-04 Sold (MLS) $31,500 WRIST
• 2026-05-14 Pending — WRIST
• 2026-05-07 Listed $49,900 WRIST
• 2010-08-20 Sold (MLS) $21,000 WRIST
• 2010-07-08 Listed $23,500 WRIST
• 2004-09-14 Sold (Public Records) $51,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $5,614 · -53.8% YoY. Source: county tax records.