402 Ohio St · Ashland, OH 44805

$127,000

3 bd · 1.5 ba · 1,468 sqft · SingleFamily public records · 26 Days on market

Built 1903 6,347 sqft lot $87/sqft · 5% below area Est $134k · 5% under

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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 +22.7/30.0
• ARV discount +9.8/15.0
• DSCR +7.3/10.0
• Schools +5.8/10.0
• 1% rule +5.4/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need garage space? Check out this 3+ car garage home with renovation potential and a layout that is hard to find at this price point. This two-story home includes a main-floor bedroom, two upstairs bedrooms, and a flex/bonus room that could serve as a large closet, office, or additional finished space depending on your needs. The main level also features a full bath, a large oak cabinet kitchen, a separate dining room, and an extra-large living room. A second full bath is located upstairs. Outside, the standout feature is the three-plus car garage, offering room for vehicles, storage, hobbies, or workshop use. Built in 1903, the home has approximately 1,468 square feet and sits on a city lot in Ashland. The home is a solid option for buyers looking for space, garage capacity, and renovation potential.

Key facts

• Main-floor bedroom
• Flex bonus room
• Separate dining room

Tags

• RENOVATION POTENTIAL
• MAIN-FLOOR BEDROOM
• FLEX BONUS ROOM
• LARGE OAK CABINET KITCHEN
• SEPARATE DINING ROOM
• EXTRA-LARGE LIVING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $127k).
• Recommended offer: $125k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Ashland — 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 72/100 on livability (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute 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.
• Market conditions: Rents rising fast (+7.1%/yr); 122 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $878 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ashland 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 + 7.1% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $88k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,095 (1.5% below list)

Questions for the listing agent

1. Built in 1903 — 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. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (median comp): $133,869
• List price: $127,000
• Delta: -5.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Myers Ave	0.12mi	3/2.0	1,414 (-4%)	4mo	$151,000	$107	82
846 Sandusky St	0.39mi	3/1.5	1,482 (+1%)	3mo	$219,900	$148	78
410 Ohio St	0.02mi	3/1.5	1,288 (-12%)	6mo	$150,000	$116	74
1407 Cottage St	0.34mi	3/2.0	1,368 (-7%)	1mo	$50,000	$37	70
1210 Cottage St	0.24mi	4/2.0 (+1)	1,564 (+6%)	4mo	$72,500	$46	68
316 Lindale Ave	0.29mi	3/2.0	1,620 (+10%)	0mo	$165,000	$102	67
122 Lindale Ave	0.39mi	3/2.0	1,316 (-10%)	2mo	$125,000	$95	61
605 Evergreen St	0.31mi	3/1.0	1,276 (-13%)	2mo	$160,000	$125	60
827 Orange St	0.35mi	3/1.5	1,664 (+13%)	6mo	$231,900	$139	56
1411 Orange Rd	0.72mi	3/1.5	1,550 (+6%)	2mo	$218,000	$141	56
857 Sandusky St	0.42mi	3/2.0	1,296 (-12%)	4mo	$204,000	$157	55
1008 Valley Dr	0.67mi	3/2.0	1,320 (-10%)	6mo	$287,400	$218	45

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,119
• Equity at exit: $18,936

10-year hold

• IRR: 12.6%
• Equity multiple: 2.18×
• Total profit: $41,858
• Equity at exit: $10,981

Cash invested: $35,560 (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 44805

• Rents YoY: 7.1%
• Active inventory: 122
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$666
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $218

Break-even live

Break-even rent $1,040

Max offer price $127,000

Occupancy floor 78%

Sensitivity live

Price	-10% $290	-5% $254	+0% $218	+5% $182	+10% $146
Rent	-10% $114	-5% $166	+0% $218	+5% $270	+10% $322
Rate	-1.0pp $282	-0.5pp $250	base $218	+0.5pp $185	+1.0pp $151

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Race St Unit 200 Ashland, OH	2.0	1.0	1532	$735	$0.48	44d	1	0.35mi
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	44d	1	0.63mi
510 Broad St Ashland, OH	3.0	1.0	1681	$1,650	$0.98	45d	1	0.63mi
222 E Walnut St Unit 212 Ashland, OH	2.0	1.0	970	$900	$0.93	44d	1	0.86mi
606 Edgehill Ave Ashland, OH	4.0	2.0	1858	$1,850	$1.00	44d	1	1.14mi

Listing history 19 events

1. 2026-06-17
   statusdays on market $127,000 Pending 26 DOM
2. 2026-06-16
   days on market $127,000 Active 25 DOM
3. 2026-06-15
   days on market $127,000 Active 24 DOM
4. 2026-06-14
   days on market $127,000 Active 22 DOM
5. 2026-06-12
   pricedays on market $127,000 Active 21 DOM
6. 2026-06-09
   days on market $139,000 Active 18 DOM
7. 2026-06-08
   days on market $139,000 Active 17 DOM
8. 2026-06-07
   days on market $139,000 Active 16 DOM
9. 2026-06-02
   days on market $139,000 Active 11 DOM
10. 2026-06-01
    days on market $139,000 Active 10 DOM
11. 2026-05-31
    days on market $139,000 Active 9 DOM
12. 2026-05-30
    pricestatus $139,000 Active 8 DOM
13. 2026-05-07
    status Pending 812-char remark

    Show marketing remark (812 chars)

    Need garage space? Check out this 3+ car garage home with renovation potential and a layout that is hard to find at this price point. This two-story home includes a main-floor bedroom, two upstairs bedrooms, and a flex/bonus room that could serve as a large closet, office, or additional finished space depending on your needs. The main level also features a full bath, a large oak cabinet kitchen, a separate dining room, and an extra-large living room. A second full bath is located upstairs. Outside, the standout feature is the three-plus car garage, offering room for vehicles, storage, hobbies, or workshop use. Built in 1903, the home has approximately 1,468 square feet and sits on a city lot in Ashland. The home is a solid option for buyers looking for space, garage capacity, and renovation potential.

14. 2026-05-01
    status Active 812-char remark

    Show marketing remark (812 chars)

    Need garage space? Check out this 3+ car garage home with renovation potential and a layout that is hard to find at this price point. This two-story home includes a main-floor bedroom, two upstairs bedrooms, and a flex/bonus room that could serve as a large closet, office, or additional finished space depending on your needs. The main level also features a full bath, a large oak cabinet kitchen, a separate dining room, and an extra-large living room. A second full bath is located upstairs. Outside, the standout feature is the three-plus car garage, offering room for vehicles, storage, hobbies, or workshop use. Built in 1903, the home has approximately 1,468 square feet and sits on a city lot in Ashland. The home is a solid option for buyers looking for space, garage capacity, and renovation potential.

15. 2026-03-28
    status Pending 812-char remark

    Show marketing remark (812 chars)

    Need garage space? Check out this 3+ car garage home with renovation potential and a layout that is hard to find at this price point. This two-story home includes a main-floor bedroom, two upstairs bedrooms, and a flex/bonus room that could serve as a large closet, office, or additional finished space depending on your needs. The main level also features a full bath, a large oak cabinet kitchen, a separate dining room, and an extra-large living room. A second full bath is located upstairs. Outside, the standout feature is the three-plus car garage, offering room for vehicles, storage, hobbies, or workshop use. Built in 1903, the home has approximately 1,468 square feet and sits on a city lot in Ashland. The home is a solid option for buyers looking for space, garage capacity, and renovation potential.

16. 2026-03-25
    listed $130,000 Active 812-char remark

    Show marketing remark (812 chars)

    Need garage space? Check out this 3+ car garage home with renovation potential and a layout that is hard to find at this price point. This two-story home includes a main-floor bedroom, two upstairs bedrooms, and a flex/bonus room that could serve as a large closet, office, or additional finished space depending on your needs. The main level also features a full bath, a large oak cabinet kitchen, a separate dining room, and an extra-large living room. A second full bath is located upstairs. Outside, the standout feature is the three-plus car garage, offering room for vehicles, storage, hobbies, or workshop use. Built in 1903, the home has approximately 1,468 square feet and sits on a city lot in Ashland. The home is a solid option for buyers looking for space, garage capacity, and renovation potential.

17. 2021-07-09
    soldstatus $88,000
18. 2001-09-07
    soldstatus $67,000
19. 1990-02-09
    soldstatus $19,000

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,609 · $134/mo
• Expected delta: +$372/yr (+$31/mo · 30.1%)

ⓘ 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 ≥97°F today · 16 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: $15,792
• − Mortgage interest: −$7,114
• − Property taxes: −$1,236
• − Insurance: −$635
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$3,695
• Taxable income: $586
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $2,472/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 — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, OH
• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 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: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, OH
• 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

+584.2% since first listed

7 events — show timeline

• 2026-05-07 Pending — ABOR
• 2026-05-01 Relisted — ABOR
• 2026-03-28 Pending — ABOR
• 2026-03-25 Listed $130,000 ABOR
• 2021-07-09 Sold (Public Records) $88,000 Public Records
• 2001-09-07 Sold (Public Records) $67,000 Public Records
• 1990-02-09 Sold (Public Records) $19,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,236 · +0.0% YoY. Source: county tax records.