692 Washington Ave · Chillicothe, OH 45601

$119,000

2 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 32 Days on market

Built 1959 4,791 sqft lot Est $155k · 23% under ↓ 27% since listing

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

READY to move in or instant rental income. Great 2 bedroom/1 bath recently remodeled. Nice size eat in kitchen, laundy, living room and built on storage. Lean to storage unit in backyard is 26x22

Key facts

• 4,791 sq ft lot
• Parking
• Built 1959

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.3% in Chillicothe — 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 62/100 on livability (#909 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime D-, amenities F.
• Chillicothe City (town): math 36% / reading 47% proficiency, ranked #535 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 179 active listings in the ZIP; 24 units permitted in Ross County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ross County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $90k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1959 — 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. 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?
5. 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?
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 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: 8.28%
• Cash-on-cash: 7.08%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $155,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
831 Jefferson Ave	0.20mi	2/1.0	1,028 (-2%)	7mo	$75,500	$73	82
623 Glencroft Ave	0.25mi	3/1.0 (+1)	1,056 (+1%)	2mo	$145,000	$137	81
619 E 2nd St	0.43mi	2/1.0	1,056 (+1%)	2mo	$156,000	$148	77
748 Jefferson Ave	0.13mi	3/1.0 (+1)	960 (-8%)	4mo	$159,900	$167	72
760 E 4th St	0.25mi	3/2.0 (+1)	1,120 (+7%)	2mo	$175,000	$156	66
863 Adams Ave	0.24mi	2/1.0	928 (-12%)	4mo	$52,000	$56	66
910 Madison Ave	0.30mi	3/1.0 (+1)	936 (-11%)	1mo	$165,000	$176	63
329 Eastern Ave	0.57mi	3/1.0 (+1)	1,022 (-2%)	8mo	$123,500	$121	57
783 Adams Ave	0.13mi	3/2.0 (+1)	1,190 (+14%)	7mo	$135,000	$113	57
23 N Brownell St	0.37mi	3/1.0 (+1)	910 (-13%)	2mo	$149,900	$165	54
622 E Water St	0.49mi	2/1.0	940 (-10%)	8mo	$115,000	$122	53
945 Columbus St	0.45mi	3/1.0 (+1)	1,152 (+10%)	8mo	$189,900	$165	51

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,772
• Equity at exit: $17,743

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $10,173
• Equity at exit: $10,289

Cash invested: $33,320 (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 45601

• Active inventory: 179
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $197

Break-even live

Break-even rent $973

Max offer price $119,000

Occupancy floor 79%

Sensitivity live

Price	-10% $264	-5% $230	+0% $197	+5% $163	+10% $129
Rent	-10% $100	-5% $148	+0% $197	+5% $245	+10% $293
Rate	-1.0pp $257	-0.5pp $227	base $197	+0.5pp $166	+1.0pp $134

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-23
   status Pending
2. 2026-04-17
   price $119,000
3. 2026-03-22
   listed $125,000 Active
4. 2026-03-20
   historical $125,000
5. 2023-02-08
   soldstatus $89,900
6. 2023-02-06
   soldstatus $89,900 195-char remark

   Show marketing remark (195 chars)

   READY to move in or instant rental income. Great 2 bedroom/1 bath recently remodeled. Nice size eat in kitchen, laundy, living room and built on storage. Lean to storage unit in backyard is 26x22

7. 2022-12-21
   listed $84,500 195-char remark

   Show marketing remark (195 chars)

   READY to move in or instant rental income. Great 2 bedroom/1 bath recently remodeled. Nice size eat in kitchen, laundy, living room and built on storage. Lean to storage unit in backyard is 26x22

8. 2019-10-30
   soldstatus $31,000
9. 2019-10-29
   soldstatus $38,000
10. 2019-06-18
    listed $44,500
11. 2017-06-09
    soldstatus $162,000

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,497 · $125/mo
• Expected delta: +$360/yr (+$30/mo · 31.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,659
• − Mortgage interest: −$6,666
• − Property taxes: −$1,137
• − Insurance: −$595
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$3,462
• Taxable income: $454
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $2,251/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: Chillicothe City
• NCES district ID: 3904374
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $37,990
• Composite: 34.55/100
• National rank: #5174
• State rank: #535 of 656 in OH

Livability — Chillicothe

• Score: 62/100
• State rank: #909
• US rank: #17195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chillicothe, OH
• County: Ross · 75,517 people
• Population (ZIP): 56,453
• Household income: $57,430
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 10.6

Population outlook (Ross County) Hauer SSP2

• Today (2025): 75,482 people
• By 2030: 74,035 · -1.9%
• By 2040: 70,702 · -6.3%
• By 2050: 66,706 · -11.6%
• By 2075: 55,398 · -26.6%
• By 2100: 42,197 · -44.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ross

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -32.1pp toward R · 2008: -7.2pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+35.2 2016: R+27.4 2012: R+2.4 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.40%
• Current HPI: 205.7051
• 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

-26.5% since first listed

11 events — show timeline

• 2026-04-23 Pending — CBRMLS
• 2026-04-17 Price Changed $119,000 CBRMLS
• 2026-03-22 Listed $125,000 CBRMLS
• 2026-03-20 Coming Soon $125,000 CBRMLS
• 2023-02-08 Sold (Public Records) $89,900 Public Records
• 2023-02-06 Sold (MLS) $89,900 SVAR
• 2022-12-21 Listed $84,500 SVAR
• 2019-10-30 Sold (Public Records) $31,000 Public Records
• 2019-10-29 Sold (MLS) $38,000 SVAR
• 2019-06-18 Listed $44,500 SVAR
• 2017-06-09 Sold (Public Records) $162,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $1,137 · +18.2% YoY. Source: county tax records.