144 Warren Ave · Russells Point, OH 43348

$1

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 5 Days on market

Built 1952 5,662 sqft lot

---

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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here is a 2 bedroom cottage with a 1 car garage and a view of Indian Lake that will be up for auction on July 23rd at 6:30pm. Currently rented for $550/month with a lease through March 2027. A new metal roof in 2023, new plumbing in 2024, and sewer repair in 2025.

Key facts

• New metal roof
• New plumbing
• View of indian lake

Tags

• VIEW OF INDIAN LAKE
• NEW METAL ROOF
• NEW PLUMBING
• SEWER REPAIR

Property features AI

Exterior

• Parking: Has garage; 1-car garage
• Utilities: Supplied water; Public sewer; Natural gas connected; Sewer connected
• Home design: Single-family residence; Residential property; Built in 1952
• Construction: Vinyl siding; Block foundation
• Exterior features: Lake-related waterfront; Residential lot; Lot dimensions approximately 58 x 95

Interior

• Kitchen: Kitchen (11 x 8); Electric water heater
• Bedrooms: Bedroom 1 (12 x 10); Bedroom 2 (13 x 10)
• Flooring: Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Attic; Ceiling fan(s); 5 total rooms
• Laundry & utility: Utility room (11 x 8); Crawl space

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $128,256 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 9.9% vs local median 2.8% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Indian Lake Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 510 students, 45% FRL); Indian Lake Middle School (math 56% / reading 65%, grade B+, #259 of 654 statewide, top 40%, 407 students, 42% FRL); Indian Lake High School (math 52% / reading 72%, grade B-, #202 of 781 statewide, top 29%, 492 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $887 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Logan 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 192384.0% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.25% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $128,256
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 E Elliott Rd	0.33mi	2/1.0	704 (-8%)	1mo	$80,000	$114	70
9713 Mauger St	0.60mi	2/1.0	756 (-2%)	3mo	$285,000	$377	67
351 Taylor Ave	0.17mi	2/1.0	689 (-10%)	21mo	$35,000	$51	58
8907 Court St	0.54mi	2/1.0	756 (-2%)	18mo	$126,500	$167	57
357 3rd St	0.52mi	2/1.0	665 (-13%)	1mo	$145,000	$218	53
205 2nd St	0.37mi	3/1.0 (+1)	844 (+10%)	11mo	$103,000	$122	52
9004 Walnut St	0.68mi	3/1.0 (+1)	720 (-6%)	7mo	$86,000	$119	47
9796 Cottage Ave	0.70mi	2/1.5	810 (+6%)	16mo	$363,750	$449	42
9010 Crescent St	0.54mi	2/1.0	698 (-9%)	22mo	$179,500	$257	41
8907 Auditorium St	0.62mi	2/1.0	704 (-8%)	20mo	$215,000	$305	41
8960 Maple St	0.67mi	2/1.0	846 (+10%)	13mo	$59,400	$70	40

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,546
• Equity at exit: $19,123

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $34,482
• Equity at exit: $11,089

Cash invested: $35,912 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$673
• Tax est. 1.5%: −$160 /mo · $1,924/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $382

Break-even live

Break-even rent $1,122

Max offer price $128,256

Occupancy floor 71%

Sensitivity live

Price	-10% $470	-5% $426	+0% $382	+5% $337	+10% $293
Rent	-10% $255	-5% $318	+0% $382	+5% $445	+10% $508
Rate	-1.0pp $446	-0.5pp $414	base $382	+0.5pp $348	+1.0pp $315

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: $32,064
• Closing costs: $3,848
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	3d	1	1.15mi
8926 Franklin Ave Unit B Lakeview, OH	2.0	1.0	696	$1,605	$2.31	3d	1	1.15mi

Listing history 5 events

1. 2026-06-21
   days on market $1 Active 5 DOM
2. 2026-06-21
   days on market $1 Active 4 DOM
3. 2026-06-18
   days on market $1 Active 2 DOM
4. 2026-06-17
   remarks 265-char remark
5. 2026-06-17
   listed $1 Active 1 DOM

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,260
• − Mortgage interest: −$7,184
• − Property taxes: −$1,924
• − Insurance: −$641
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$3,731
• Taxable income: $2,698
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $3,932/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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Russells Point, OH
• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.07%
• Current HPI: 261.3567
• 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

Property tax history

+3.5%/yr

Latest (2025): $920 · +20.1% YoY. Source: county tax records.