15906 + Main St · Millfield, OH 45761

$99,500

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 24 Days on market

Built 1900 2.11 ac lot

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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 +13.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• Schools +4.5/10.0
• DSCR +4.2/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

"THE MILLFIELD OPPORTUNITY". When was the last time you can remember being able to purchase 3 houses, plus 5 vacant lots ALL FOR ONLY $ 99,500.00???? The answer is NEVER!! Total of 16 rooms, 3 bathrooms, public water, flat/level 2 plus acres. WOW!! Property is being sold "AS IS - WHERE IS" and must be sold as one entire tract - or course a buyer could split it up after purchase - AGAIN 3 houses & 5 vacant lots - very reasonable. yearly real estate taxes $ 1500 +/- for the 3 houses and 5 lots total. Did I mention only $ 99,500.00. Check flood map, insurability and taxes/assessments.

Key facts

• 2.11 acre lot
• Built 1900
• Listed 24 days

Property features AI

Exterior

• Utilities: Septic tank sewer
• Home design: Single family residence; 2 stories
• Construction: Aluminum, vinyl, and wood siding
• Exterior features: Asphalt shingle roof

Interior

• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Laminate counters

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $83k (17.0% below list).
• Recommended offer: $79k (20.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 59/100 on livability (#1,033 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime D+, employment D.
• Athens City (town): math 50% / reading 61% proficiency, ranked #393 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($60k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $4k of equity ($688 loan paydown + $3k appreciation (3.5% local appreciation)).
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $100k implies a 374% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,410 (20.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.27×
• Total profit: $7,457
• Equity at exit: $47,562

10-year hold

• IRR: 7.5%
• Equity multiple: 2.21×
• Total profit: $33,578
• Equity at exit: $75,573

Cash invested: $27,860 (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 45761

• Home prices YoY: 2.0%
• Active inventory: 3
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $826 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$41
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $-114

Break-even live

Break-even rent $970

Max offer price $79,410

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-86	+0% $-114	+5% $-142	+10% $-170
Rent	-10% $-179	-5% $-146	+0% $-114	+5% $-81	+10% $-48
Rate	-1.0pp $-64	-0.5pp $-88	base $-114	+0.5pp $-140	+1.0pp $-166

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $99,500 Pending 24 DOM
2. 2026-06-02
   days on market $99,500 Active 19 DOM
3. 2026-06-01
   days on market $99,500 Active 18 DOM
4. 2026-05-31
   days on market $99,500 Active 17 DOM
5. 2026-05-30
   days on market $99,500 Active 16 DOM
6. 2026-05-14
   listed $99,500 Active
7. 1998-09-25
   soldstatus $21,000
8. 1996-08-29
   soldstatus $20,000

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$308/yr (+$26/mo · 32.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,915
• − Mortgage interest: −$5,574
• − Property taxes: −$936
• − Insurance: −$2,000
• − Repairs & maintenance: −$793
• − Management: −$793
• − Depreciation: −$2,895
• Taxable loss: −$3,076
• Est. tax savings @ 24.0%: +$738
• After-tax cash flow: $-627/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: Athens City
• NCES district ID: 3904352
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 61% ▼ -5.00%
• Median HH income: $30,360
• Composite: 45.43/100
• National rank: #2620
• State rank: #393 of 656 in OH

Livability — Millfield

• Score: 59/100
• State rank: #1033
• US rank: #20520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millfield, OH
• County: Athens · 60,466 people
• Population (ZIP): 1,323
• Household income: $60,398
• Rent vs Own: 17.7% rent · 82.3% own

Population outlook (Athens County) Hauer SSP2

• Today (2025): 71,867 people
• By 2030: 73,556 · +2.4%
• By 2040: 74,528 · +3.7%
• By 2050: 74,947 · +4.3%
• By 2075: 77,996 · +8.5%
• By 2100: 81,619 · +13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Iranian 4% Lithuanian 2% Serbian 1%
• Languages at home: 99% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Athens

• 2024 margin: D (+10.8) · D 54.9% · R 44.2%
• 2008→2024 swing: -24.5pp toward R · 2008: 35.3pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.0 2016: D+16.9 2012: D+35.0 2008: D+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 178.8788
• 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

+397.5% since first listed

3 events — show timeline

• 2026-05-14 Listed $99,500 ACBOR
• 1998-09-25 Sold (Public Records) $21,000 Public Records
• 1996-08-29 Sold (Public Records) $20,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $936 · +0.8% YoY. Source: county tax records.