604 W 4th St · Mansfield, OH 44906

$79,900

3 bd · 1.0 ba · 1,740 sqft · SingleFamily public records · 58 Days on market

Built 1925 6,751 sqft lot $46/sqft · 33% above area Est $60k · 33% over

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid, income-producing opportunity with timeless character! This 2-story brick home offers a strong, durable structure built to stand the test of time—perfect for investors or future owner occupants alike. Currently occupied by a long-term tenant, providing immediate rental income and stability from day one. Inside, you’ll find a functional layout with additional potential waiting to be unlocked. The attic space offers an excellent opportunity to be finished into an additional bedroom, office, or bonus living area—adding both value and versatility. With its low-maintenance exterior, solid construction, and built-in income, this property is an ideal addition to any portfolio or a smart first investment. Don’t miss your chance to own a dependable, easy-to-manage asset with room to grow!

Key facts

• Solid construction
• Attic space
• 2 story brick home

Tags

• 2 STORY BRICK HOME
• FUNCTIONAL LAYOUT
• ATTIC SPACE
• LOW MAINTENANCE EXTERIOR
• SOLID CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $292 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.3% in Mansfield — 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 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 117 active listings in the ZIP; 3 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; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richland 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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: 1.34% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.64%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $60,215
• List price: $79,900
• Delta: 32.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
568 Garfield Pl	0.21mi	4/1.0 (+1)	1,613 (-7%)	1mo	$140,000	$87	72
170 Western Ave	0.08mi	3/1.0	1,520 (-13%)	6mo	$104,900	$69	70
212 Penn Ave	0.27mi	4/2.0 (+1)	1,655 (-5%)	3mo	$121,000	$73	68
657 W Fourth St	0.10mi	3/1.5	1,950 (+12%)	9mo	$115,000	$59	65
78 Glenwood Blvd	0.53mi	4/1.5 (+1)	1,756 (+1%)	4mo	$224,900	$128	63
189 Westwood Ave	0.73mi	3/2.0	1,752 (+1%)	3mo	$169,000	$96	58
114 Vennum Ave	0.69mi	4/1.0 (+1)	1,724 (-1%)	4mo	$50,000	$29	58
41 Western Ave	0.32mi	3/2.0	1,536 (-12%)	10mo	$86,000	$56	53
272 W 5th St	0.60mi	3/1.0	1,915 (+10%)	6mo	$135,000	$70	51
604 Sackman St	0.32mi	4/1.5 (+1)	1,483 (-15%)	10mo	$149,000	$100	46
282 W 5th St	0.51mi	3/2.0	1,480 (-15%)	5mo	$85,000	$57	43
37 Linden Rd	0.69mi	3/1.0	1,488 (-14%)	5mo	$66,000	$44	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: 6.5%
• Equity multiple: 1.25×
• Total profit: $5,638
• Equity at exit: $11,913

10-year hold

• IRR: 15.8%
• Equity multiple: 2.29×
• Total profit: $28,885
• Equity at exit: $6,908

Cash invested: $22,372 (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 44906

• Home prices YoY: -23.9%
• Active inventory: 117
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $292

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 68%

Sensitivity live

Price	-10% $347	-5% $319	+0% $292	+5% $264	+10% $236
Rent	-10% $207	-5% $249	+0% $292	+5% $334	+10% $376
Rate	-1.0pp $332	-0.5pp $312	base $292	+0.5pp $271	+1.0pp $250

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 King St Mansfield, OH	1.0–3.0	1.0	938	$1,100	$1.17	44d	11	0.72mi
243 W 1st St Mansfield, OH	4.0	1.0	1470	$1,195	$0.81	44d	1	0.84mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	44d	1	1.07mi

Listing history 20 events

1. 2026-06-19
   days on market $79,900 Active 58 DOM
2. 2026-06-18
   days on market $79,900 Active 57 DOM
3. 2026-06-17
   days on market $79,900 Active 56 DOM
4. 2026-06-16
   days on market $79,900 Active 55 DOM
5. 2026-06-15
   days on market $79,900 Active 54 DOM
6. 2026-06-14
   days on market $79,900 Active 52 DOM
7. 2026-06-12
   days on market $79,900 Active 51 DOM
8. 2026-06-09
   days on market $79,900 Active 48 DOM
9. 2026-06-08
   days on market $79,900 Active 47 DOM
10. 2026-06-07
    days on market $79,900 Active 46 DOM
11. 2026-06-05
    days on market $79,900 Active 43 DOM
12. 2026-06-03
    days on market $79,900 Active 42 DOM
13. 2026-06-02
    days on market $79,900 Active 41 DOM
14. 2026-06-01
    days on market $79,900 Active 40 DOM
15. 2026-05-31
    days on market $79,900 Active 39 DOM
16. 2026-05-30
    days on market $79,900 Active 38 DOM
17. 2026-05-09
    price $84,900 820-char remark

    Show marketing remark (820 chars)

    Solid, income-producing opportunity with timeless character! This 2-story brick home offers a strong, durable structure built to stand the test of time—perfect for investors or future owner occupants alike. Currently occupied by a long-term tenant, providing immediate rental income and stability from day one. Inside, you’ll find a functional layout with additional potential waiting to be unlocked. The attic space offers an excellent opportunity to be finished into an additional bedroom, office, or bonus living area—adding both value and versatility. With its low-maintenance exterior, solid construction, and built-in income, this property is an ideal addition to any portfolio or a smart first investment. Don’t miss your chance to own a dependable, easy-to-manage asset with room to grow!

18. 2026-04-22
    listed $90,000 Active 820-char remark

    Show marketing remark (820 chars)

    Solid, income-producing opportunity with timeless character! This 2-story brick home offers a strong, durable structure built to stand the test of time—perfect for investors or future owner occupants alike. Currently occupied by a long-term tenant, providing immediate rental income and stability from day one. Inside, you’ll find a functional layout with additional potential waiting to be unlocked. The attic space offers an excellent opportunity to be finished into an additional bedroom, office, or bonus living area—adding both value and versatility. With its low-maintenance exterior, solid construction, and built-in income, this property is an ideal addition to any portfolio or a smart first investment. Don’t miss your chance to own a dependable, easy-to-manage asset with room to grow!

19. 2015-02-03
    soldstatus $84,800
20. 2000-07-31
    soldstatus $24,000

ⓘ 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 ≥96°F today · 17 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: $12,816
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$2,324
• Taxable income: $2,367
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $2,930/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: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 17,059
• Household income: $51,358
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 13.7

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 3% · South Korea
• Languages at home: 95% English-only · German/W. Germanic 1% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.59%
• Current HPI: 224.6878
• 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

Price history

+253.8% since first listed

4 events — show timeline

• 2026-05-09 Price Changed $84,900 MLSNOW
• 2026-04-22 Listed $90,000 MLSNOW
• 2015-02-03 Sold (Public Records) $84,800 Public Records
• 2000-07-31 Sold (Public Records) $24,000 Public Records

Property tax history

-18.1%/yr

Latest (2025): $90 · +0.0% YoY. Source: county tax records.