411 S Myrtle Ave · Willard, OH 44890

$60,000

3 bd · 3.0 ba · 2,760 sqft · MultiFamily public records · 17 Days on market

Built 1995 9,513 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor opportunity in the heart of Willard! This side-by-side duplex at 411 S Myrtle Ave offers strong potential for the right buyer ready to bring it back to life. Both upstairs units have been gutted and are ready for renovation, giving investors a blank slate to add value and maximize rental income. One side features a newer furnace system installed in the basement. Property is conveniently located within walking distance to local schools, shopping, and downtown amenities. Ideal for seasoned investors, flippers, or landlords looking for their next project.

Key facts

• Side-by-side duplex
• Newer furnace system
• 9,513 sq ft lot

Tags

• SIDE-BY-SIDE DUPLEX
• UPSTAIRS UNITS GUTTED
• NEWER FURNACE SYSTEM
• WALKING DISTANCE TO SHOPPING

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Driveway parking
• Utilities: Public water; Public sewer
• Home design: 2-story home; Property listed as fixer condition
• Construction: Wood siding exterior; Asphalt roof; Built per public records
• Exterior features: Driveway

Interior

• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Hot water heating; Steam heating
• Interior features: Basement with bath rough-in/stubbed

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $689/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 33.8% vs local median 3.6% in Willard — 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 70/100 on livability (#469 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, amenities F.
• Willard City (town): math 38% / reading 49% proficiency, ranked #505 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 40 units permitted in Huron County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($65k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Huron County population projected at -22% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 3.73% ✓
• Cap rate: 33.85%
• Cash-on-cash: 98.41%
• DSCR: 5.38
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 99.4%
• Equity multiple: 5.65×
• Total profit: $78,046
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 11.78×
• Total profit: $181,027
• Equity at exit: $5,188

Cash invested: $16,800 (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 44890

• Home prices YoY: -16.2%
• Active inventory: 57
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$49 /mo · $588/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $1,378

Break-even live

Break-even rent $492

Max offer price $60,000

Occupancy floor 33%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$2,236
Total (2 units)			$2,236

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $60,000 Pending 17 DOM
2. 2026-06-09
   days on market $60,000 Active 16 DOM
3. 2026-06-08
   days on market $60,000 Active 15 DOM
4. 2026-06-08
   days on market $60,000 Active 14 DOM
5. 2026-06-07
   days on market $60,000 Active 13 DOM
6. 2026-06-04
   days on market $60,000 Active 10 DOM
7. 2026-06-02
   days on market $60,000 Active 9 DOM
8. 2026-06-01
   days on market $60,000 Active 8 DOM
9. 2026-05-31
   days on market $60,000 Active 7 DOM
10. 2026-05-22
    listed $70,000 Active
11. 1994-05-02
    soldstatus $63,000

ⓘ 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: $588 · $49/mo
• Projected year-2 tax: $762 · $64/mo
• Expected delta: +$174/yr (+$14/mo · 29.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,832
• − Mortgage interest: −$3,361
• − Property taxes: −$588
• − Insurance: −$300
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$1,745
• Taxable income: $16,544
• Est. tax owed @ 24.0%: −$3,971
• After-tax cash flow: $12,563/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: Willard City
• NCES district ID: 3904509
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $46,675
• Composite: 37.04/100
• National rank: #4512
• State rank: #505 of 656 in OH

Livability — Willard

• Score: 70/100
• State rank: #469
• US rank: #7772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willard, OH
• County: Huron · 56,496 people
• Population (ZIP): 10,364
• Household income: $64,971
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 5.8

Population outlook (Huron County) Hauer SSP2

• Today (2025): 55,572 people
• By 2030: 53,514 · -3.7%
• By 2040: 48,770 · -12.2%
• By 2050: 43,611 · -21.5%
• By 2075: 32,349 · -41.8%
• By 2100: 21,849 · -60.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Iranian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Huron

• 2024 margin: Solid R (+44.0) · D 27.6% · R 71.6%
• 2008→2024 swing: -40.9pp toward R · 2008: -3.1pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.2 2016: R+36.4 2012: R+8.9 2008: R+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.45%
• Current HPI: 229.9428
• 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

+11.1% since first listed

2 events — show timeline

• 2026-05-22 Listed $70,000 MLSNOW
• 1994-05-02 Sold (Public Records) $63,000 Public Records

Property tax history

-4.9%/yr

Latest (2025): $588 · +0.8% YoY. Source: county tax records.