210 Leader St · Marion, OH 43302

$35,000

3 bd · 1.0 ba · 1,495 sqft · MultiFamily public records · 21 Days on market

Built 1925 6,534 sqft lot $23/sqft · 66% below area ↓ 35% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Back on market due to no fault of seller/property. Investor opportunity in Marion! This triplex offers 3 separate 1-bed/1-bath units with strong rental potential after renovation. Property needs a complete rehab and is sold as-is. Ideal for cash buyers, contractors, or investors looking for a value-add rental project.

Key facts

• 6,534 sq ft lot
• Built 1925
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 66.6% vs local median 6.9% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 210 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At $2,563/mo this rent would consume 56% of the median local household income ($55k/yr) (locally 1554% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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.
• Current owner paid $22k; list at $35k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 7.32% ✓
• Cap rate: 66.60%
• Cash-on-cash: 215.40%
• DSCR: 10.58
• GRM: 1.1

CMA / ARV

• ARV (median comp): $103,696
• List price: $35,000
• Delta: -66.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 Holmes Pl	0.25mi	4/— (+1)	1,632 (+9%)	7mo	$23,000	$14	62
551 Universal Ave	0.49mi	4/— (+1)	1,664 (+11%)	6mo	$127,500	$77	48
359/361 Park Blvd	0.54mi	4/— (+1)	1,422 (-5%)	22mo	$149,900	$105	43
374 Windsor St	0.56mi	3/—	1,663 (+11%)	19mo	$70,000	$42	40
206 E Mark St	0.65mi	3/—	1,660 (+11%)	16mo	$80,000	$48	39
437 Cherry St	0.65mi	3/—	1,708 (+14%)	13mo	$100,000	$59	35

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: —
• Equity multiple: 11.86×
• Total profit: $106,419
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 25.20×
• Total profit: $237,151
• Equity at exit: $3,026

Cash invested: $9,800 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 210
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,563 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $1,759

Break-even live

Break-even rent $336

Max offer price $35,000

Occupancy floor 26%

Sensitivity live

Price	-10% $1,779	-5% $1,769	+0% $1,759	+5% $1,749	+10% $1,739
Rent	-10% $1,557	-5% $1,658	+0% $1,759	+5% $1,860	+10% $1,962
Rate	-1.0pp $1,777	-0.5pp $1,768	base $1,759	+0.5pp $1,750	+1.0pp $1,741

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,562
Total (3 units)			$2,563

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-13
   status Pending 319-char remark

   Show marketing remark (319 chars)

   Back on market due to no fault of seller/property. Investor opportunity in Marion! This triplex offers 3 separate 1-bed/1-bath units with strong rental potential after renovation. Property needs a complete rehab and is sold as-is. Ideal for cash buyers, contractors, or investors looking for a value-add rental project.

2. 2026-04-24
   status Active 319-char remark

   Show marketing remark (319 chars)

   Back on market due to no fault of seller/property. Investor opportunity in Marion! This triplex offers 3 separate 1-bed/1-bath units with strong rental potential after renovation. Property needs a complete rehab and is sold as-is. Ideal for cash buyers, contractors, or investors looking for a value-add rental project.

3. 2026-04-11
   status Pending 319-char remark

   Show marketing remark (319 chars)

   Back on market due to no fault of seller/property. Investor opportunity in Marion! This triplex offers 3 separate 1-bed/1-bath units with strong rental potential after renovation. Property needs a complete rehab and is sold as-is. Ideal for cash buyers, contractors, or investors looking for a value-add rental project.

4. 2026-04-09
   listed $35,000 Active 319-char remark

   Show marketing remark (319 chars)

   Back on market due to no fault of seller/property. Investor opportunity in Marion! This triplex offers 3 separate 1-bed/1-bath units with strong rental potential after renovation. Property needs a complete rehab and is sold as-is. Ideal for cash buyers, contractors, or investors looking for a value-add rental project.

5. 2025-03-14
   soldstatus $22,000
6. 2021-06-02
   historical
7. 2021-05-22
   historical
8. 2021-05-22
   historical
9. 2021-05-22
   historical
10. 2007-10-03
    soldstatus $16,800
11. 2007-07-05
    listed $28,000
12. 2007-07-05
    listed $28,000
13. 2005-12-12
    listed $45,900
14. 2005-07-15
    listed $54,000

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $811 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,756
• − Mortgage interest: −$1,961
• − Property taxes: −$811
• − Insurance: −$175
• − Repairs & maintenance: −$2,460
• − Management: −$2,460
• − Depreciation: −$1,018
• Taxable income: $21,871
• Est. tax owed @ 24.0%: −$5,249
• After-tax cash flow: $15,860/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

-35.2% since first listed

14 events — show timeline

• 2026-05-13 Pending — CBRMLS
• 2026-04-24 Relisted — CBRMLS
• 2026-04-11 Pending — CBRMLS
• 2026-04-09 Listed $35,000 CBRMLS
• 2025-03-14 Sold (Public Records) $22,000 Public Records
• 2021-06-02 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2021-05-22 Listing Removed — CBRMLS
• 2007-10-03 Sold (Public Records) $16,800 Public Records
• 2007-07-05 Listed $28,000 CBRMLS
• 2007-07-05 Listed $28,000 CBRMLS
• 2005-12-12 Listed $45,900 CBRMLS
• 2005-07-15 Listed $54,000 CBRMLS

Property tax history

+6.8%/yr

Latest (2025): $811 · +0.0% YoY. Source: county tax records.