5448 Ada Dr · Celina, OH 45822

$69,700

2 bd · 1.0 ba · 552 sqft · SingleFamily public records · 181 Days on market

Built 1957 $126/sqft · 99% above area Est $54k · 29% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your chance to Start your Lake Life ! This Seasonal Cottage is on Leased Land in the Behm's Landing Subdivision. Acceptance into Landing is subject to a background check and Landing approval. Yearly fees amount to @ $2600, which include Water- Sewer, and taxes , boat dock.. This is a 2-bedroom one bath cottage with a covered carport and shed. Some improvements to the property include Newer Kitchen cabinets, flooring, water softener, water heater and furnace. The bathroom was redone in 2023.

Key facts

• Leased land
• Water softener
• Water heater

Tags

• LEASED LAND
• BEHM'S LANDING SUBDIVISION
• NEWER KITCHEN CABINETS
• WATER SOFTENER
• WATER HEATER
• FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 4.9% in Celina — 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 (#397 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Celina City (town): math 64% / reading 55% proficiency, ranked #299 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 67 active listings in the ZIP; 92 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $482 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mercer County population projected at -13% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $70k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,336 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.89% ✓
• Cap rate: 16.67%
• Cash-on-cash: 37.07%
• DSCR: 2.65
• GRM: 4.4

CMA / ARV

• ARV (median comp): $53,839
• List price: $69,700
• Delta: 29.46%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5445 Behm Rd #15	0.15mi	2/1.0	600 (+9%)	1mo	$107,000	$178	78

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: 33.0%
• Equity multiple: 2.39×
• Total profit: $27,098
• Equity at exit: $10,392

10-year hold

• IRR: 39.9%
• Equity multiple: 4.74×
• Total profit: $73,012
• Equity at exit: $6,026

Cash invested: $19,516 (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 45822

• Active inventory: 67
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$366
• Tax from tax record: −$43 /mo · $510/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $603

Break-even live

Break-even rent $553

Max offer price $69,700

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: $17,425
• Closing costs: $2,091
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $69,700 Active 181 DOM
2. 2026-06-17
   days on market $69,700 Active 180 DOM
3. 2026-06-16
   days on market $69,700 Active 179 DOM
4. 2026-06-15
   days on market $69,700 Active 178 DOM
5. 2026-06-13
   days on market $69,700 Active 176 DOM
6. 2026-06-12
   days on market $69,700 Active 175 DOM
7. 2026-06-09
   days on market $69,700 Active 172 DOM
8. 2026-06-08
   days on market $69,700 Active 171 DOM
9. 2026-06-08
   days on market $69,700 Active 170 DOM
10. 2026-06-07
    days on market $69,700 Active 169 DOM
11. 2026-06-04
    days on market $69,700 Active 166 DOM
12. 2026-06-02
    days on market $69,700 Active 165 DOM
13. 2026-06-01
    days on market $69,700 Active 164 DOM
14. 2026-05-31
    days on market $69,700 Active 163 DOM
15. 2026-03-19
    price $69,700 503-char remark

    Show marketing remark (503 chars)

    Here is your chance to Start your Lake Life ! This Seasonal Cottage is on Leased Land in the Behm's Landing Subdivision. Acceptance into Landing is subject to a background check and Landing approval. Yearly fees amount to @ $2600, which include Water- Sewer, and taxes , boat dock.. This is a 2-bedroom one bath cottage with a covered carport and shed. Some improvements to the property include Newer Kitchen cabinets, flooring, water softener, water heater and furnace. The bathroom was redone in 2023.

16. 2025-12-17
    listed $79,700 Active 503-char remark

    Show marketing remark (503 chars)

    Here is your chance to Start your Lake Life ! This Seasonal Cottage is on Leased Land in the Behm's Landing Subdivision. Acceptance into Landing is subject to a background check and Landing approval. Yearly fees amount to @ $2600, which include Water- Sewer, and taxes , boat dock.. This is a 2-bedroom one bath cottage with a covered carport and shed. Some improvements to the property include Newer Kitchen cabinets, flooring, water softener, water heater and furnace. The bathroom was redone in 2023.

17. 2011-08-15
    soldstatus $36,500 851-char remark

    Show marketing remark (851 chars)

    YOU ARE GOING TO LOVE THIS ADORABLE, CHARMING, WELL MAINTAINED COTTAGE ON THE SOUTH SIDE OF THE LAKE. THE COTTAGE OFFERS OPEN GREAT ROOM/ KITCHEN, 2 BEDROOMS PLUS A SUN ROOM WITH FIREPLACE. VERY TASTEFULLY DECORATED PLUS CHEERFUL FRESH PAINT COLORS. NICE SIZE DECK FOR ENTERTAINING FAMILY & FRIENDS OR JUST RELAXING. UPDATES: NEWER FURNACE, CENTRAL AIR, WATER HEATER, WATER SOFTENER, KITCHEN COUNTERTOPS, NEWER WINDOWS IN THE GREAT ROOM, 13" OF INSULATION ADDED IN THE ATTIC. LOT LEASE IS $700.00/YEAR (LEASE WILL BE PRO-RATED AT CLOSING), PROPERTY TAX IS $404.28/YEAR, PLUS WATER IS $150.00/YEAR, SEWER IS $265.20/YEAR. BOTH SIDES OF THE DOCK WITHIN WALKING DISTANCE IS INCLUDED FOR $580.00/YEAR. WALK OR TAKE YOUR GOLF CART TO NEARBY RESTAURANTS & BARS. ALL FURNISHINGS, EXCEPT FOR PERSONAL ITEMS, COULD BE NEGOTIABLE. WON'T LAST LONG!!

18. 2011-03-24
    listed $39,900 851-char remark

    Show marketing remark (851 chars)

    YOU ARE GOING TO LOVE THIS ADORABLE, CHARMING, WELL MAINTAINED COTTAGE ON THE SOUTH SIDE OF THE LAKE. THE COTTAGE OFFERS OPEN GREAT ROOM/ KITCHEN, 2 BEDROOMS PLUS A SUN ROOM WITH FIREPLACE. VERY TASTEFULLY DECORATED PLUS CHEERFUL FRESH PAINT COLORS. NICE SIZE DECK FOR ENTERTAINING FAMILY & FRIENDS OR JUST RELAXING. UPDATES: NEWER FURNACE, CENTRAL AIR, WATER HEATER, WATER SOFTENER, KITCHEN COUNTERTOPS, NEWER WINDOWS IN THE GREAT ROOM, 13" OF INSULATION ADDED IN THE ATTIC. LOT LEASE IS $700.00/YEAR (LEASE WILL BE PRO-RATED AT CLOSING), PROPERTY TAX IS $404.28/YEAR, PLUS WATER IS $150.00/YEAR, SEWER IS $265.20/YEAR. BOTH SIDES OF THE DOCK WITHIN WALKING DISTANCE IS INCLUDED FOR $580.00/YEAR. WALK OR TAKE YOUR GOLF CART TO NEARBY RESTAURANTS & BARS. ALL FURNISHINGS, EXCEPT FOR PERSONAL ITEMS, COULD BE NEGOTIABLE. WON'T LAST LONG!!

ⓘ 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: $510 · $43/mo
• Projected year-2 tax: $799 · $67/mo
• Expected delta: +$289/yr (+$24/mo · 56.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $15,797
• − Mortgage interest: −$3,904
• − Property taxes: −$510
• − Insurance: −$348
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$2,028
• Taxable income: $6,479
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $5,680/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: Celina City
• NCES district ID: 3910030
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 55% ▼ -9.00%
• Median HH income: $47,168
• Composite: 50.44/100
• National rank: #1864
• State rank: #299 of 656 in OH

Livability — Celina

• Score: 71/100
• State rank: #397
• US rank: #6556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mercer · 42,068 people
• Population (ZIP): 20,170
• Household income: $72,106
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 15.9

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 40,163 people
• By 2030: 39,367 · -2.0%
• By 2040: 37,406 · -6.9%
• By 2050: 34,917 · -13.1%
• By 2075: 28,969 · -27.9%
• By 2100: 21,338 · -46.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 3% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+66.7) · D 16.3% · R 83.0%
• 2008→2024 swing: -23.2pp toward R · 2008: -43.5pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.9 2016: R+65.0 2012: R+54.8 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.25%
• Current HPI: 204.0486
• 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

+74.7% since first listed

4 events — show timeline

• 2026-03-19 Price Changed $69,700 WRIST
• 2025-12-17 Listed $79,700 WRIST
• 2011-08-15 Sold (MLS) $36,500 WRIST
• 2011-03-24 Listed $39,900 WRIST

Property tax history

+3.5%/yr

Latest (2024): $510 · -0.1% YoY. Source: county tax records.