1496 W Fourth Street Lot 35 St · Mansfield, OH 44906

$79,173

3 bd · 2.0 ba · 988 sqft · Land public records · 717 Days on market

Built 2024 $80/sqft · 229% above area

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.8/5.0
• 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

New Housing Priced to Sell! Choose from the available homes or special order yours with the customized features of your choice. These 3 Bedroom, 2 Full Bathroom homes are very spacious and feature the most appealing finishes throughout, including carpet in the bedrooms only. The kitchen is fully applianced, hosts an island, and is open to the living room for easy gatherings. The primary suite with full bathroom offers great privacy. Plus, you can enjoy the brand new community playground and picnic area! Schedule your showing to own your own new home today! Three-bedroom, two-bathroom double-wide options offering 1,568 square feet are available starting at $114,376.

Key facts

• Built 2024
• Listed 716 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $79k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: crime D-, amenities D-, employment F.
• 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.
• Zoned schools: Malabar Intermediate School (math 17% / reading 29%, grade F, #1,233 of 1,584 statewide, top 78%, 762 students, 0% FRL); Mansfield Middle School (math 18% / reading 30%, grade F, #593 of 654 statewide, top 91%, 427 students, 0% FRL); Mansfield Senior High School (math 22% / reading 32%, grade F, #632 of 781 statewide, top 81%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 119 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $548 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 717 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $69,672 (12.0% below list)

Questions for the listing agent

1. It's been on market 717 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.50%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $24,655
• List price: $79,173
• Delta: 221.12%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $713
• Equity at exit: $11,805

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $18,099
• Equity at exit: $6,845

Cash invested: $22,168 (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 44906

• Home prices YoY: -23.9%
• Active inventory: 119
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $961 medium
• Mortgage (P&I): −$415
• Tax est. 1.5%: −$99 /mo · $1,188/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $212

Break-even live

Break-even rent $693

Max offer price $79,173

Occupancy floor 73%

Sensitivity live

Price	-10% $267	-5% $240	+0% $212	+5% $185	+10% $158
Rent	-10% $136	-5% $174	+0% $212	+5% $250	+10% $288
Rate	-1.0pp $252	-0.5pp $233	base $212	+0.5pp $192	+1.0pp $171

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: $19,793
• Closing costs: $2,375
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
750 Burns St Unit A6 Mansfield, OH	2.0	1.0	960	$950	$0.99	45d	1	0.83mi
776 King St Unit B7 Mansfield, OH	2.0	1.0	960	$950	$0.99	45d	1	0.86mi
640 King St Mansfield, OH	1.0–3.0	1.0	938	$1,100	$1.17	45d	11	1.04mi
454 Parnell Dr Mansfield, OH	2.0	1.0	757	$795	$1.05	45d	1	1.27mi

Listing history 23 events

1. 2026-06-22
   days on market $79,173 Active 717 DOM
2. 2026-06-21
   days on market $79,173 Active 716 DOM
3. 2026-06-19
   days on market $79,173 Active 714 DOM
4. 2026-06-18
   days on market $79,173 Active 713 DOM
5. 2026-06-17
   days on market $79,173 Active 712 DOM
6. 2026-06-16
   days on market $79,173 Active 711 DOM
7. 2026-06-15
   days on market $79,173 Active 710 DOM
8. 2026-06-14
   days on market $79,173 Active 708 DOM
9. 2026-06-12
   days on market $79,173 Active 707 DOM
10. 2026-06-09
    days on market $79,173 Active 704 DOM
11. 2026-06-08
    days on market $79,173 Active 703 DOM
12. 2026-06-07
    days on market $79,173 Active 702 DOM
13. 2026-06-05
    days on market $79,173 Active 699 DOM
14. 2026-06-03
    days on market $79,173 Active 698 DOM
15. 2026-06-02
    days on market $79,173 Active 697 DOM
16. 2026-06-01
    days on market $79,173 Active 696 DOM
17. 2026-05-31
    days on market $79,173 Active 695 DOM
18. 2026-05-30
    days on market $79,173 Active 694 DOM
19. 2025-07-03
    status Active 673-char remark

    Show marketing remark (673 chars)

    New Housing Priced to Sell! Choose from the available homes or special order yours with the customized features of your choice. These 3 Bedroom, 2 Full Bathroom homes are very spacious and feature the most appealing finishes throughout, including carpet in the bedrooms only. The kitchen is fully applianced, hosts an island, and is open to the living room for easy gatherings. The primary suite with full bathroom offers great privacy. Plus, you can enjoy the brand new community playground and picnic area! Schedule your showing to own your own new home today! Three-bedroom, two-bathroom double-wide options offering 1,568 square feet are available starting at $114,376.

20. 2024-07-03
    listed $79,173 Active 673-char remark

    Show marketing remark (673 chars)

    New Housing Priced to Sell! Choose from the available homes or special order yours with the customized features of your choice. These 3 Bedroom, 2 Full Bathroom homes are very spacious and feature the most appealing finishes throughout, including carpet in the bedrooms only. The kitchen is fully applianced, hosts an island, and is open to the living room for easy gatherings. The primary suite with full bathroom offers great privacy. Plus, you can enjoy the brand new community playground and picnic area! Schedule your showing to own your own new home today! Three-bedroom, two-bathroom double-wide options offering 1,568 square feet are available starting at $114,376.

21. 2022-09-02
    soldstatus $420,000
22. 2006-06-13
    soldstatus $475,000
23. 2005-05-18
    soldstatus $300,000

ⓘ 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 ≥96°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: $11,537
• − Mortgage interest: −$4,435
• − Property taxes: −$1,188
• − Insurance: −$396
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$2,303
• Taxable income: $1,370
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $2,220/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 · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 17,059
• Household income: $51,358
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 13.7

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 (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 3% · South Korea
• Languages at home: 95% English-only · German/W. Germanic 1% Spanish 1% Other Indo-European 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: ▼ -70.59%
• Current HPI: 224.6878
• 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

-73.6% since first listed

5 events — show timeline

• 2025-07-03 Relisted — MARMLS
• 2024-07-03 Listed $79,173 MARMLS
• 2022-09-02 Sold (Public Records) $420,000 Public Records
• 2006-06-13 Sold (Public Records) $475,000 Public Records
• 2005-05-18 Sold (Public Records) $300,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $4,880 · +0.3% YoY. Source: county tax records.