805 Hickory St · Martins Ferry, OH 43935

$35,000

2 bd · 2.0 ba · 2,216 sqft · MultiFamily public records · 1 Days on market

Built 1910 3,510 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

COMP ONLY. 1/2 of side by side duplex. New survey split duplex and property in half.

Key facts

• 3,510 sq ft lot
• Built 1910

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Property is attached
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation; Built according to public records
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: 5 total rooms (bedrooms included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air gas heating
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 64.5% vs local median 8.3% in Martins Ferry — 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 (#423 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Martins Ferry City (suburban): math 42% / reading 54% proficiency, ranked #483 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 32 active listings in the ZIP; 4 units permitted in Belmont County in 2024 (0 in 5+ unit buildings).
• At $2,465/mo this rent would consume 59% 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 $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Belmont County population projected at -15% 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1910 — 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. Schools are B-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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 7.04% ✓
• Cap rate: 64.52%
• Cash-on-cash: 207.96%
• DSCR: 10.25
• GRM: 1.2

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: —
• Equity multiple: 11.46×
• Total profit: $102,538
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 24.34×
• Total profit: $228,741
• Equity at exit: $3,026

Cash invested: $9,800 (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 43935

• Home prices YoY: -12.7%
• Active inventory: 32
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,465 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $1,698

Break-even live

Break-even rent $315

Max offer price $35,000

Occupancy floor 26%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,464
Total (2 units)			$2,465

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Pending
2. 2026-05-12
   listed $35,000 Active

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $611 · $51/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 8 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,580
• − Mortgage interest: −$1,961
• − Property taxes: −$611
• − Insurance: −$175
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − Depreciation: −$1,018
• Taxable income: $21,083
• Est. tax owed @ 24.0%: −$5,060
• After-tax cash flow: $15,320/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: Martins Ferry City
• NCES district ID: 3904434
• Math proficiency: 42% ▼ -23.00%
• Reading proficiency: 54% ▼ -9.00%
• Median HH income: $37,566
• Composite: 39.89/100
• National rank: #3859
• State rank: #483 of 656 in OH

Livability — Martins Ferry

• Score: 71/100
• State rank: #423
• US rank: #6917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martins Ferry, OH
• County: Belmont · 63,139 people
• Metro: Wheeling, WV-OH
• Population (ZIP): 7,918
• Household income: $50,109
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 2.2

Population outlook (Belmont County) Hauer SSP2

• Today (2025): 66,568 people
• By 2030: 64,818 · -2.6%
• By 2040: 60,702 · -8.8%
• By 2050: 56,427 · -15.2%
• By 2075: 46,222 · -30.6%
• By 2100: 34,611 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Black 5% Asian 3%
• Common ancestry: Romanian 4% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Spanish 1% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Belmont

• 2024 margin: Solid R (+47.3) · D 26.0% · R 73.3%
• 2008→2024 swing: -50.0pp toward R · 2008: 2.7pp · 2024: -47.3pp
• All cycles: 2024: R+47.3 2020: R+43.6 2016: R+39.5 2012: R+8.4 2008: D+2.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.06%
• Current HPI: 172.1787
• 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

2 events — show timeline

• 2026-05-13 Pending — MLSNOW
• 2026-05-12 Listed $35,000 MLSNOW

Property tax history

+0.5%/yr

Latest (2025): $611 · -53.8% YoY. Source: county tax records.