156 US Route 250 · Polk, OH 44866

$145,000

3 bd · 1.5 ba · 2,508 sqft · SingleFamily · 51 Days on market

Built 1901 0.39 ac lot $58/sqft · 60% below 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 +13.5/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Endless potential with this large Victorian home featuring 3 bedrooms, 1.5 baths, tall ceilings, and spacious rooms on a . 40-acre lot. The property includes a storefront once used for auto parts and an impressive 40x40 free-span steel garage with two overhead doors—worth the price alone! The house needs work but could be a fantastic live/work setup for an owner-occupant, or an investment where you use the shop and rent out the home. Bring your vision and start your business here today!

Key facts

• Live/work setup
• Large victorian home
• 0.39 acre lot

Tags

• LARGE VICTORIAN HOME
• FREE-SPAN STEEL GARAGE
• LIVE/WORK SETUP

Property features AI

Exterior

• Parking: Detached garage with 4 spaces
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; 2-story
• Construction: Wood siding; Rubber roof
• Exterior features: Above-ground private pool; Outbuilding

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Gas water heater; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $5 ($60/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (12.1% below list).
• Recommended offer: $127k (12.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#1,032 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Reagan Elementary School (math 77% / reading 67%, grade A-, #323 of 1,584 statewide, top 23%, 593 students, 29% FRL); Ashland Middle School (math 71% / reading 65%, grade A-, #155 of 654 statewide, top 24%, 735 students, 34% FRL); Ashland High School (math 51% / reading 72%, grade B-, #231 of 781 statewide, top 30%, 881 students, 26% FRL).
• Market conditions: 7 active listings in the ZIP; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.2% local appreciation)).
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,480 (12.1% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $360,800
• List price: $145,000
• Delta: -59.81%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

5.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.87×
• Total profit: $35,258
• Equity at exit: $83,763

10-year hold

• IRR: 14.2%
• Equity multiple: 3.60×
• Total profit: $105,686
• Equity at exit: $145,899

Cash invested: $40,600 (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 44866

• Home prices YoY: 2.4%
• Active inventory: 7
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $5

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 95%

Sensitivity live

Price	-10% $105	-5% $55	+0% $5	+5% $-45	+10% $-95
Rent	-10% $-96	-5% $-45	+0% $5	+5% $55	+10% $106
Rate	-1.0pp $78	-0.5pp $42	base $5	+0.5pp $-33	+1.0pp $-71

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $145,000 Active 51 DOM
2. 2026-06-19
   days on market $145,000 Active 49 DOM
3. 2026-06-18
   days on market $145,000 Active 48 DOM
4. 2026-06-17
   days on market $145,000 Active 47 DOM
5. 2026-06-16
   days on market $145,000 Active 46 DOM
6. 2026-06-15
   days on market $145,000 Active 45 DOM
7. 2026-06-14
   days on market $145,000 Active 43 DOM
8. 2026-06-12
   days on market $145,000 Active 42 DOM
9. 2026-06-09
   days on market $145,000 Active 39 DOM
10. 2026-06-08
    days on market $145,000 Active 38 DOM
11. 2026-06-07
    days on market $145,000 Active 37 DOM
12. 2026-06-02
    days on market $145,000 Active 32 DOM
13. 2026-06-01
    days on market $145,000 Active 31 DOM
14. 2026-05-31
    days on market $145,000 Active 30 DOM
15. 2026-05-30
    days on market $145,000 Active 29 DOM
16. 2026-05-01
    listed $145,000 Active 497-char remark

    Show marketing remark (497 chars)

    Endless potential with this large Victorian home featuring 3 bedrooms, 1.5 baths, tall ceilings, and spacious rooms on a . 40-acre lot. The property includes a storefront once used for auto parts and an impressive 40x40 free-span steel garage with two overhead doors—worth the price alone! The house needs work but could be a fantastic live/work setup for an owner-occupant, or an investment where you use the shop and rent out the home. Bring your vision and start your business here today!

17. 2026-05-01
    listed $145,000 Active 497-char remark

    Show marketing remark (497 chars)

    Endless potential with this large Victorian home featuring 3 bedrooms, 1.5 baths, tall ceilings, and spacious rooms on a . 40-acre lot. The property includes a storefront once used for auto parts and an impressive 40x40 free-span steel garage with two overhead doors—worth the price alone! The house needs work but could be a fantastic live/work setup for an owner-occupant, or an investment where you use the shop and rent out the home. Bring your vision and start your business here today!

18. 2026-03-31
    historical
19. 2025-09-19
    listed $165,000 Active
20. 2025-09-19
    listed $165,000 Active
21. 2025-09-18
    listed $165,000 Active
22. 2016-12-31
    historical
23. 2014-05-27
    listed $94,500

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,298
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$4,218
• Taxable loss: −$2,390
• Est. tax savings @ 24.0%: +$574
• After-tax cash flow: $634/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Polk

• Score: 59/100
• State rank: #1032
• US rank: #20487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ashland · 50,679 people
• Population (ZIP): 2,454
• Household income: $63,125
• Rent vs Own: 7.5% rent · 92.5% own

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Polish 5% Subsaharan African 3% Slovak 3%
• Foreign-born: 0%
• Languages at home: 89% English-only · German/W. Germanic 9% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.18%
• Current HPI: 218.4241
• 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

+53.4% since first listed

8 events — show timeline

• 2026-05-01 Listed $145,000 ABOR
• 2026-05-01 Listed $145,000 MLSNOW
• 2026-03-31 Listing Removed — MLSNOW
• 2025-09-19 Listed $165,000 MARMLS
• 2025-09-19 Listed $165,000 ABOR
• 2025-09-18 Listed $165,000 MLSNOW
• 2016-12-31 Listing Removed — MLSNOW
• 2014-05-27 Listed $94,500 MLSNOW