402 Vine St · Ashland, OH 44805

$89,990

2 bd · 1.0 ba · 1,028 sqft · SingleFamily public records · 27 Days on market

Built 1901 5,662 sqft lot $88/sqft · 29% below area Est $127k · 29% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• Schools +5.8/10.0
• 1% rule +5.3/10.0
• 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

Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

Key facts

• 5,662 sq ft lot
• Garage
• Built 1901

Property features AI

Exterior

• Parking: Detached garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; No common walls; Built in 1901
• Exterior features: Block foundation; Lot about 0.13 acre

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 4 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).
• This rent is only 16% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $88,640 (1.5% below list)

Questions for the listing agent

1. Built in 1901 — 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: 1.03% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $126,764
• List price: $89,990
• Delta: -29.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 W 10th St	0.40mi	3/1.0 (+1)	1,056 (+3%)	1mo	$144,000	$136	71
917 Union St	0.51mi	2/1.0	1,064 (+4%)	1mo	$120,000	$113	69
101 W 12th St	0.36mi	2/1.0	1,100 (+7%)	6mo	$129,000	$117	66
219 W Washington St	0.59mi	3/1.0 (+1)	1,004 (-2%)	1mo	$115,000	$115	63
1000 Union St	0.50mi	3/1.0 (+1)	1,056 (+3%)	6mo	$140,000	$133	62
424 Sharp St	0.49mi	2/3.0	957 (-7%)	2mo	$117,900	$123	56
748 Ohio St	0.29mi	3/1.0 (+1)	1,154 (+12%)	8mo	$184,900	$160	54
120 Sharon Ave	0.52mi	3/1.0 (+1)	934 (-9%)	1mo	$185,300	$198	54
255 E 9th St	0.61mi	2/1.0	1,112 (+8%)	6mo	$145,000	$130	53
1499 Troy Rd	0.67mi	3/1.0 (+1)	1,092 (+6%)	4mo	$179,000	$164	50
302 E 8th St	0.64mi	3/1.0 (+1)	936 (-9%)	2mo	$145,000	$155	49
1818 Cottage St	0.67mi	2/1.0	902 (-12%)	3mo	$139,900	$155	46

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,888
• Equity at exit: $13,418

10-year hold

• IRR: 11.6%
• Equity multiple: 2.08×
• Total profit: $27,209
• Equity at exit: $7,781

Cash invested: $25,197 (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: 8.1×

Monthly cashflow live

• Estimated rent: $925 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $137

Break-even live

Break-even rent $751

Max offer price $89,990

Occupancy floor 80%

Sensitivity live

Price	-10% $188	-5% $163	+0% $137	+5% $112	+10% $87
Rent	-10% $64	-5% $101	+0% $137	+5% $174	+10% $211
Rate	-1.0pp $183	-0.5pp $160	base $137	+0.5pp $114	+1.0pp $90

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: $22,498
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Quarry St Unit 4 Ashland, OH	2.0	1.0	750	$800	$1.07	44d	1	0.41mi
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	44d	1	0.64mi
222 E Walnut St Unit 212 Ashland, OH	2.0	1.0	970	$900	$0.93	44d	1	0.81mi
1440 Hiner Ave Ashland, OH	2.0	1.0–1.5	867	$920	$1.06	44d	1	1.49mi

Listing history 19 events

1. 2026-06-03
   status $89,990 Pending 27 DOM
2. 2026-06-02
   days on market $89,990 Active 27 DOM

   Show marketing remark (400 chars)

   Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

3. 2026-06-01
   days on market $89,990 Active 26 DOM
4. 2026-05-31
   days on market $89,990 Active 25 DOM
5. 2026-05-30
   days on market $89,990 Active 24 DOM
6. 2026-05-13
   price $109,990 400-char remark

   Show marketing remark (400 chars)

   Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

7. 2026-05-13
   price $109,990 378-char remark

   Show marketing remark (400 chars)

   Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

8. 2026-05-06
   listed $120,000 Active 400-char remark

   Show marketing remark (400 chars)

   Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

9. 2026-05-06
   listed $120,000 Active 378-char remark

   Show marketing remark (400 chars)

   Charming 2-story Ashland home featuring 3 bedrooms and 1.5 baths. The main floor offers a spacious kitchen, dedicated dining room, and cozy living area, with all bedrooms located upstairs. The exterior includes a low-maintenance metal roof, a fenced backyard, and a detached garage with ample gravel parking. This property is ready for your basic updates and finishing touches to truly make it shine.

10. 2021-01-20
    soldstatus $63,600
11. 2018-11-15
    historical
12. 2018-05-14
    listed $69,000
13. 2018-05-10
    historical
14. 2018-03-28
    listed $75,000
15. 2008-11-12
    historical
16. 2008-05-12
    historical
17. 2007-11-12
    listed $66,500
18. 2007-11-12
    listed $74,500
19. 1993-03-11
    soldstatus $26,000

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$200/yr (+$17/mo · 19.9%)

ⓘ 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: $11,097
• − Mortgage interest: −$5,041
• − Property taxes: −$1,004
• − Insurance: −$450
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$2,618
• Taxable income: $209
• Est. tax owed @ 24.0%: −$50
• After-tax cash flow: $1,600/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

+246.1% since first listed

20 events — show timeline

• 2026-06-02 Pending — MLSNOW
• 2026-06-02 Pending — CBRMLS
• 2026-05-28 Price Changed $89,990 MLSNOW
• 2026-05-28 Price Changed $89,990 CBRMLS
• 2026-05-21 Price Changed $99,990 MLSNOW
• 2026-05-21 Price Changed $99,990 CBRMLS
• 2026-05-13 Price Changed $109,990 MLSNOW
• 2026-05-13 Price Changed $109,990 CBRMLS
• 2026-05-06 Listed $120,000 CBRMLS
• 2026-05-06 Listed $120,000 MLSNOW
• 2021-01-20 Sold (Public Records) $63,600 Public Records
• 2018-11-15 Listing Removed — MLSNOW
• 2018-05-14 Listed $69,000 MLSNOW
• 2018-05-10 Listing Removed — MLSNOW
• 2018-03-28 Listed $75,000 MLSNOW
• 2008-11-12 Listing Removed — MLSNOW
• 2008-05-12 Listing Removed — MLSNOW
• 2007-11-12 Listed $74,500 MLSNOW
• 2007-11-12 Listed $66,500 MLSNOW
• 1993-03-11 Sold (Public Records) $26,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,004 · +0.0% YoY. Source: county tax records.