505 Highview Ave · Springfield, OH 45505

$134,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 59 Days on market

Built 1940 8,712 sqft lot $123/sqft · at area comps Est $138k · at est.

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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 +13.4/30.0
• ARV discount +8.7/15.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

Key facts

• New furnace
• New water softener
• Generous lot

Tags

• GENEROUS LOT
• FULL BASEMENT
• NEW ROOF
• NEW FURNACE
• NEW WATER HEATER
• NEW WATER SOFTENER

Property features AI

Exterior

• Parking: Carport
• Utilities: Well water; Public sewer
• Home design: Single-family residence; Residential property; Built in 1940
• Construction: Vinyl siding; Block foundation
• Exterior features: Porch; Residential lot

Interior

• Kitchen: Range; Microwave
• Bedrooms: Three bedrooms
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Six total rooms; Full, unfinished basement with block foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $3 ($37/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $134k).
• Recommended offer: $130k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Clark-Shawnee Local (rural): math 54% / reading 62% proficiency, ranked #301 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shawnee Elementary School (math 47% / reading 52%, grade D, #906 of 1,584 statewide, top 59%, 1,010 students, 46% FRL); Shawnee Middle School/High School (math 47% / reading 67%, grade C, #275 of 781 statewide, top 37%, 687 students, 46% FRL).
• Market conditions: 158 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 38% of the median local income ($44k/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 $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $70k; list at $134k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,980 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. 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?
7. 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.
8. 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.
9. 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: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 8.0

CMA / ARV

• ARV (median comp): $137,757
• List price: $134,000
• Delta: -2.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 Lyle Ave	0.15mi	3/1.0	1,064 (-3%)	2mo	$147,000	$138	87
533 Highview Ave	0.03mi	2/1.0 (-1)	972 (-11%)	2mo	$70,000	$72	73
2825 Linden Ave	0.18mi	3/1.0	1,064 (-3%)	23mo	$165,000	$155	68
157 Kinnane Ave	0.28mi	3/1.0	1,173 (+7%)	23mo	$35,100	$30	56
227 Kinnane Ave	0.22mi	3/1.0	972 (-11%)	19mo	$129,900	$134	55
348 Lyle Ave	0.22mi	3/1.0	956 (-12%)	23mo	$150,000	$157	50

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-21,388
• Equity at exit: $19,980

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-17,845
• Equity at exit: $11,586

Cash invested: $37,520 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,399 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$344 /mo · $4,125/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $3

Break-even live

Break-even rent $1,395

Max offer price $134,000

Occupancy floor 95%

Sensitivity live

Price	-10% $79	-5% $41	+0% $3	+5% $-35	+10% $-73
Rent	-10% $-107	-5% $-52	+0% $3	+5% $58	+10% $114
Rate	-1.0pp $71	-0.5pp $37	base $3	+0.5pp $-32	+1.0pp $-67

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	45d	1	1.39mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	25d	1	1.47mi
2406 Springfield Xenia Rd Springfield, OH	3.0	2.0	1300	$1,650	$1.27	4d	1	1.49mi

Listing history 27 events

1. 2026-06-22
   days on market $134,000 Active 59 DOM
2. 2026-06-19
   days on market $134,000 Active 56 DOM
3. 2026-06-18
   days on market $134,000 Active 55 DOM
4. 2026-06-17
   days on market $134,000 Active 54 DOM
5. 2026-06-16
   pricedays on market $134,000 Active 53 DOM
6. 2026-06-15
   days on market $140,000 Active 52 DOM
7. 2026-06-14
   days on market $140,000 Active 50 DOM
8. 2026-06-12
   days on market $140,000 Active 49 DOM
9. 2026-06-09
   days on market $140,000 Active 46 DOM
10. 2026-06-08
    days on market $140,000 Active 45 DOM
11. 2026-06-07
    days on market $140,000 Active 44 DOM
12. 2026-06-05
    days on market $140,000 Active 41 DOM
13. 2026-06-03
    days on market $140,000 Active 40 DOM
14. 2026-06-02
    days on market $140,000 Active 39 DOM
15. 2026-06-01
    days on market $140,000 Active 38 DOM
16. 2026-05-31
    days on market $140,000 Active 37 DOM
17. 2026-05-30
    days on market $140,000 Active 36 DOM
18. 2026-04-24
    listed $140,000 Active 644-char remark
19. 2026-04-03
    historical
20. 2026-02-26
    price $129,000
21. 2026-01-31
    listed $134,000 Active
22. 2022-12-13
    soldstatus $70,000
23. 2022-12-09
    soldstatus $70,000 Closed

    Show marketing remark (221 chars)

    Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

24. 2022-12-09
    soldstatus $70,000 Sold

    Show marketing remark (221 chars)

    Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

25. 2022-11-28
    historical Active/Pending

    Show marketing remark (221 chars)

    Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

26. 2022-11-21
    price $79,900

    Show marketing remark (221 chars)

    Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

27. 2022-11-18
    listed $89,900 Active

    Show marketing remark (221 chars)

    Welcome home to this Cape Cod style home with a full unfinished basement. The roof has recently been replaced with dimensional shingles. This home has a ton of potential, just needs some TLC. The home is being sold as-is.

ⓘ 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: $4,125 · $344/mo
• Projected year-2 tax: $4,125 · $344/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 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,790
• − Mortgage interest: −$7,506
• − Property taxes: −$4,125
• − Insurance: −$670
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,898
• Taxable loss: −$2,095
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $540/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: Clark-Shawnee Local
• NCES district ID: 3904628
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 62% ▼ -4.00%
• Median HH income: $59,411
• Composite: 50.29/100
• National rank: #1884
• State rank: #301 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 19,826
• Household income: $43,819
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 950.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 1% German 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.16%
• Current HPI: 258.9037
• Rent YoY: —
• Metro: Springfield, 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

+49.1% since first listed

11 events — show timeline

• 2026-06-16 Price Changed $134,000 WRIST
• 2026-04-24 Listed $140,000 WRIST
• 2026-04-03 Listing Removed — WRIST
• 2026-02-26 Price Changed $129,000 WRIST
• 2026-01-31 Listed $134,000 WRIST
• 2022-12-13 Sold (Public Records) $70,000 Public Records
• 2022-12-09 Sold (MLS) $70,000 Dayton MLS
• 2022-12-09 Sold (MLS) $70,000 Dayton MLS
• 2022-11-28 Contingent — Dayton MLS
• 2022-11-21 Price Changed $79,900 Dayton MLS
• 2022-11-18 Listed $89,900 Dayton MLS

Property tax history

+21.1%/yr

Latest (2025): $4,125 · +41.7% YoY. Source: county tax records.