268 Reform St · Mansfield, OH 44902

$126,900

3 bd · 1.0 ba · 851 sqft · SingleFamily public records · 18 Days on market

Built 1953 Est $112k · 13% over

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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 +14.5/30.0
• Appreciation +9.2/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +1.7/15.0

Listing remarks

Welcome home to this charming 3-bedroom, 1-bath ranch full of warmth and potential! Featuring a comfortable layout, inviting living spaces, and solid construction, this home offers the perfect opportunity to add your own style and touches over time. The cozy feel and quaint character make it easy to picture yourself settling right in. Whether you're looking for your first home, downsizing, or searching for an investment opportunity, this property is full of possibilities and ready for its next chapter!

Key facts

• Garage
• Built 1953
• Listed 17 days

Property features AI

Exterior

• Parking: 1-car garage; Concrete and gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Composition roof
• Exterior features: Rolling slope lot

Interior

• Kitchen: Dishwasher; Microwave; Oven/Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Baseboard heating; Natural gas heating
• Interior features: Dehumidifier; Full walk-out basement
• Laundry & utility: Washer; Dryer; Gas water heater; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $27 ($329/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 $103k (19.1% below list).
• Recommended offer: $103k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% 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: 30 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $12k of equity ($877 loan paydown + $11k appreciation (8.4% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $127k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,625 (19.1% below list)

Questions for the listing agent

1. Built in 1953 — 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 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?
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: 0.81% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $112,332
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Woodville Rd	0.18mi	2/1.0 (-1)	854 (+0%)	14mo	$51,500	$60	75
353 Home Ave	0.62mi	3/1.0	864 (+2%)	6mo	$129,900	$150	63
34 W Raleigh Ave	0.55mi	2/1.0 (-1)	795 (-7%)	0mo	$120,000	$151	58
445 Luther St	0.22mi	2/1.0 (-1)	936 (+10%)	13mo	$120,000	$128	57
398 Home Ave	0.62mi	3/1.0	864 (+2%)	16mo	$65,000	$75	55
133 Winwood Dr	0.73mi	2/2.0 (-1)	864 (+2%)	3mo	$177,000	$205	52
231 Reform St	0.07mi	2/1.0 (-1)	728 (-14%)	23mo	$163,000	$224	49
33 Chilton Ave	0.55mi	2/1.0 (-1)	772 (-9%)	7mo	$102,000	$132	48
352 Remy Ave	0.65mi	2/1.0 (-1)	768 (-10%)	0mo	$120,000	$156	48
26 Wolfe Ave	0.56mi	3/1.0	945 (+11%)	9mo	$65,500	$69	48
48 Winwood Dr	0.57mi	3/1.0	887 (+4%)	23mo	$117,000	$132	48
323 Greendale Ave	0.49mi	3/1.5	960 (+13%)	23mo	$80,000	$83	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.62×
• Total profit: $57,669
• Equity at exit: $100,335

10-year hold

• IRR: 19.8%
• Equity multiple: 5.68×
• Total profit: $166,188
• Equity at exit: $203,029

Cash invested: $35,532 (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 44902

• Home prices YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,026 high
• Mortgage (P&I): −$665
• Tax from tax record: −$65 /mo · $780/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $27

Break-even live

Break-even rent $992

Max offer price $126,900

Occupancy floor 92%

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: $31,725
• Closing costs: $3,807
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
282 Cliffbrook Dr Mansfield, OH	3.0	1.0	912	$1,395	$1.53	43d	1	0.39mi
19 State St Mansfield, OH	3.0	1.0	1040	$995	$0.96	43d	1	0.47mi
135 E Cook Rd Mansfield, OH	1.0–2.0	1.0	554	$850	$1.53	43d	10	0.65mi
100 Winwood Dr Mansfield, OH	2.0	1.0	700	$725	$1.04	43d	1	0.66mi
896 Brookfield Dr Mansfield, OH	2.0	1.0	770	$795	$1.03	43d	1	0.74mi

Listing history 14 events

1. 2026-06-19
   days on market $126,900 Active 18 DOM
2. 2026-06-18
   days on market $126,900 Active 17 DOM
3. 2026-06-17
   days on market $126,900 Active 16 DOM
4. 2026-06-16
   days on market $126,900 Active 15 DOM
5. 2026-06-15
   days on market $126,900 Active 14 DOM
6. 2026-06-14
   days on market $126,900 Active 12 DOM
7. 2026-06-12
   days on market $126,900 Active 11 DOM
8. 2026-06-09
   days on market $126,900 Active 8 DOM
9. 2026-06-08
   days on market $126,900 Active 7 DOM
10. 2026-06-07
    days on market $126,900 Active 6 DOM
11. 2026-06-05
    days on market $126,900 Active 3 DOM
12. 2026-06-03
    days on market $126,900 Active 2 DOM
13. 2026-06-02
    remarks 507-char remark
14. 2026-06-02
    listed $126,900 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: $780 · $65/mo
• Projected year-2 tax: $1,380 · $115/mo
• Expected delta: +$600/yr (+$50/mo · 76.9%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,315
• − Mortgage interest: −$7,108
• − Property taxes: −$780
• − Insurance: −$634
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$3,692
• Taxable loss: −$1,870
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $778/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): 4,876
• Household income: $31,619
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 13.2

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Italian 2% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% 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: ▲ 8.45%
• Current HPI: 302.035
• 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

+428.7% since first listed

4 events — show timeline

• 2026-06-01 Price Changed $126,900 MARMLS
• 2026-06-01 Listed $125,900 MARMLS
• 2005-09-23 Sold (Public Records) $66,435 Public Records
• 1990-12-07 Sold (Public Records) $24,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $780 · -5.5% YoY. Source: county tax records.