1562 Rutland Ave · Springfield, OH 45505

$129,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 1 Days on market

Built 1970 5,662 sqft lot Est $150k · 14% under

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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 +15.9/30.0
• ARV discount +13.7/15.0
• DSCR +4.9/10.0
• 1% rule +3.6/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Windows are replacement. Nice 10'x12' shed in rear yard. Very good condition throughout. Front porch across the front to enjoy. See this one today.

Key facts

• Brand new roof
• Storage shed
• Nice backyard

Tags

• ONE LEVEL LIVING
• COMPLETELY RENOVATED BATHROOM
• NICE BACKYARD
• STORAGE SHED
• BRAND NEW ROOF
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public sewer; Natural gas connected; Public water supply
• Home design: Single family residence; Residential property
• Construction: Built in 1970; Aluminum siding
• Exterior features: Porch; Residential lot

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Seven total rooms; No basement
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $61 ($735/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (13.8% below list).
• Recommended offer: $111k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.8% 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.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 158 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 30% 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 $892 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $48k; list at $129k implies a 169% gain — meaningful room to come down on a strong offer.

Recommended offer $111,200 (13.8% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.86% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $149,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1633 N Sweetbriar Ln	0.38mi	3/1.0	1,008 (+8%)	2mo	$150,000	$149	68
1716 N Sweetbriar Ln	0.37mi	3/1.0	1,008 (+8%)	4mo	$161,000	$160	67
1915 Kenwood Ave	0.28mi	3/1.0	812 (-13%)	4mo	$159,000	$196	61
2037 Gerald Dr	0.74mi	3/1.0	957 (+2%)	1mo	$185,000	$193	61
900 E Rose St	0.55mi	3/1.0	864 (-8%)	3mo	$35,000	$41	59
2050 S Hadley Rd	0.58mi	3/1.0	864 (-8%)	1mo	$150,000	$174	59
1111 Lafayete Ave	0.39mi	3/1.0	1,056 (+13%)	2mo	$130,000	$123	58
523 Linwood Ave	0.61mi	2/1.0 (-1)	910 (-3%)	7mo	$45,000	$49	56
1612 Victory Dr	0.48mi	2/1.0 (-1)	839 (-10%)	0mo	$159,900	$191	55
1630 S Sweetbriar Ln	0.41mi	4/1.0 (+1)	1,075 (+15%)	2mo	$155,000	$144	49
1018 Pine St	0.40mi	2/1.0 (-1)	816 (-13%)	7mo	$131,000	$161	49
2218 Tanager Rd	0.70mi	3/1.0	1,053 (+12%)	3mo	$146,000	$139	44

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-17,033
• Equity at exit: $19,234

10-year hold

• IRR: -4.2%
• Equity multiple: 0.73×
• Total profit: $-9,927
• Equity at exit: $11,154

Cash invested: $36,120 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,112 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$87 /mo · $1,044/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $61

Break-even live

Break-even rent $1,034

Max offer price $129,000

Occupancy floor 89%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	43d	1	0.65mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	23d	1	1.01mi
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	1d	1	1.29mi

Listing history 3 events

1. 2026-06-14
   status $129,000 Pending 1 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $129,000 Active 1 DOM

ⓘ 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: $1,044 · $87/mo
• Projected year-2 tax: $1,528 · $127/mo
• Expected delta: +$484/yr (+$40/mo · 46.4%)

ⓘ 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 ≥100°F today · 18 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: $13,344
• − Mortgage interest: −$7,226
• − Property taxes: −$1,044
• − Insurance: −$645
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$3,753
• Taxable loss: −$1,459
• Est. tax savings @ 24.0%: +$350
• After-tax cash flow: $1,085/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 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

• Census place: Springfield, OH
• 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

+168.8% since first listed

4 events — show timeline

• 2026-06-12 Listed $129,000 WRIST
• 2015-11-24 Sold (Public Records) $48,000 Public Records
• 2015-11-19 Sold (MLS) $48,000 WRIST
• 2015-06-19 Listed $48,000 WRIST

Property tax history

+2.4%/yr

Latest (2025): $1,044 · -7.7% YoY. Source: county tax records.